Mirae Asset Global Investments Co. Ltd. Acquires 2,780,897 Shares of 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% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,817,021 shares of the technology company's stock after acquiring 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 biggest holding. Mirae Asset Global Investments Co. Ltd. owned about 0.44% of NetEase worth $289,928,000 at the end of the most recent quarter.

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

Wall Street Analyst Weigh In

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

NetEase Trading Up 0.1%

NetEase stock traded up $0.20 during trading on Tuesday, reaching $134.78. The company had a trading volume of 608,594 shares, compared to its average volume of 1,502,013. The firm has a market capitalization of $85.40 billion, a price-to-earnings ratio of 19.39, a price-to-earnings-growth ratio of 4.62 and a beta of 0.67. The firm's 50-day simple moving average is $119.92 and its 200 day simple moving average is $106.15. NetEase, Inc. has a 52 week low of $75.85 and a 52 week high of $135.28.

NetEase Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 13th. Stockholders of record on Friday, May 30th were given a dividend of $0.675 per share. The ex-dividend date was Friday, May 30th. This represents a $2.70 dividend on an annualized basis and a dividend yield of 2.00%. NetEase's payout ratio is currently 38.71%.

About NetEase

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.