Myriad Asset Management US LP Makes New Investment in NetEase, Inc. (NASDAQ:NTES)

Myriad Asset Management US LP bought a new stake in shares of NetEase, Inc. (NASDAQ:NTES - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 23,386 shares of the technology company's stock, valued at approximately $2,407,000. NetEase makes up approximately 1.0% of Myriad Asset Management US LP's portfolio, making the stock its 16th biggest position.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in NTES. WT Asset Management Ltd bought a new stake in NetEase during the 4th quarter valued at approximately $2,624,000. Public Employees Retirement System of Ohio boosted its position in shares of NetEase by 3.1% during the fourth quarter. Public Employees Retirement System of Ohio now owns 128,316 shares of the technology company's stock valued at $11,447,000 after purchasing an additional 3,883 shares in the last quarter. SVB Wealth LLC purchased a new stake in NetEase in the fourth quarter worth $3,817,000. Focus Partners Wealth bought a new position in NetEase in the fourth quarter worth $310,000. Finally, Greenwoods Asset Management Hong Kong Ltd. lifted its position in NetEase by 10.8% during the fourth quarter. Greenwoods Asset Management Hong Kong Ltd. now owns 3,632,870 shares of the technology company's stock valued at $324,088,000 after buying an additional 354,273 shares during the period. Hedge funds and other institutional investors own 11.07% of the company's stock.

NetEase Price Performance

NetEase stock traded up $1.41 during midday trading on Thursday, reaching $128.63. 944,923 shares of the company traded hands, compared to its average volume of 1,551,172. NetEase, Inc. has a 12 month low of $75.85 and a 12 month high of $129.05. The business has a 50 day moving average of $108.14 and a two-hundred day moving average of $100.89. The firm has a market capitalization of $81.50 billion, a price-to-earnings ratio of 20.19, a price-to-earnings-growth ratio of 3.37 and a beta of 0.66.

NetEase Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 13th. Shareholders of record on Friday, May 30th will be given a $0.675 dividend. The ex-dividend date of this dividend is Friday, May 30th. This represents a $2.70 annualized dividend and a yield of 2.10%. NetEase's payout ratio is presently 38.71%.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on NTES shares. Deutsche Bank Aktiengesellschaft assumed coverage on shares of NetEase in a research note on Monday, May 12th. They issued a "buy" rating and a $130.00 price target for the company. Benchmark raised their target price on shares of NetEase from $105.00 to $115.00 and gave the company a "buy" rating in a research note on Friday, February 21st. JPMorgan Chase & Co. lifted their target price on shares of NetEase from $120.00 to $135.00 and gave the company an "overweight" rating in a report on Monday, May 19th. Wall Street Zen raised NetEase from a "buy" rating to a "strong-buy" rating in a research report on Thursday, May 22nd. Finally, Morgan Stanley raised their price objective on NetEase from $108.00 to $117.00 and gave the company an "overweight" rating in a research report on Wednesday, February 12th. One research analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, NetEase presently has an average rating of "Buy" and a consensus target price of $119.38.

NetEase 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.