Mirae Asset Global Investments Co. Ltd. Raises Position in NetEase, Inc. (NASDAQ:NTES)

Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of NetEase, Inc. (NASDAQ:NTES - Free Report) by 7,698.2% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,817,021 shares of the technology company's stock after buying an additional 2,780,897 shares during the period. NetEase comprises approximately 0.8% of Mirae Asset Global Investments Co. Ltd.'s portfolio, making the stock its 21st largest position. Mirae Asset Global Investments Co. Ltd. owned about 0.44% of NetEase worth $289,928,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of NTES. Farther Finance Advisors LLC boosted its position in NetEase by 81.7% during the 4th quarter. Farther Finance Advisors LLC now owns 338 shares of the technology company's stock valued at $30,000 after buying an additional 152 shares during the period. Live Oak Investment Partners bought a new position in shares of NetEase during the fourth quarter valued at about $62,000. SBI Securities Co. Ltd. purchased a new stake in shares of NetEase during the fourth quarter worth about $110,000. Toronto Dominion Bank bought a new stake in shares of NetEase in the fourth quarter worth about $145,000. Finally, Pine Haven Investment Counsel Inc bought a new stake in shares of NetEase in the first quarter worth about $206,000. 11.07% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have commented on NTES. Deutsche Bank Aktiengesellschaft initiated coverage on NetEase in a research report on Monday, May 12th. They set a "buy" rating and a $130.00 price target for the company. Wall Street Zen raised NetEase from a "buy" rating to a "strong-buy" rating in a research note on Thursday, May 22nd. JPMorgan Chase & Co. lifted their price target on shares of NetEase from $120.00 to $135.00 and gave the company an "overweight" rating in a report on Monday, May 19th. Finally, Barclays boosted their price objective on shares of NetEase from $104.00 to $118.00 and gave the company an "equal weight" rating in a research report on Friday, May 16th. One research analyst has rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus price target of $119.38.

NetEase Stock Down 0.2%

Shares of NTES stock opened at $132.65 on Friday. The stock has a market cap of $84.05 billion, a price-to-earnings ratio of 19.09, a PEG ratio of 4.63 and a beta of 0.67. The business's fifty day moving average is $119.22 and its 200 day moving average is $105.75. NetEase, Inc. has a twelve month low of $75.85 and a twelve month high of $134.12.

NetEase Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 13th. Investors of record on Friday, May 30th were paid a $0.675 dividend. The ex-dividend date was Friday, May 30th. This represents a $2.70 annualized dividend and a dividend yield of 2.04%. NetEase's payout ratio is 38.71%.

NetEase Company Profile

NetEase, Inc engages in online games, music streaming, online intelligent learning services, and internet content services businesses in China and internationally . The company operates through Games and Related Value-Added Services, Youdao, Cloud Music, and Innovative Businesses and Others segments.

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