23,386 Shares in NetEase, Inc. (NASDAQ:NTES) Purchased by Myriad Asset Management US LP

Myriad Asset Management US LP bought a new position in shares of NetEase, Inc. (NASDAQ:NTES - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund bought 23,386 shares of the technology company's stock, valued at approximately $2,407,000. NetEase comprises approximately 1.0% of Myriad Asset Management US LP's investment portfolio, making the stock its 16th biggest position.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Invesco Ltd. boosted its position in NetEase by 88.0% during the fourth quarter. Invesco Ltd. now owns 2,365,464 shares of the technology company's stock worth $211,023,000 after acquiring an additional 1,107,363 shares during the last quarter. Capital World Investors boosted its position in NetEase by 40.6% during the fourth quarter. Capital World Investors now owns 3,725,046 shares of the technology company's stock worth $332,311,000 after acquiring an additional 1,074,818 shares during the last quarter. FIL Ltd boosted its position in NetEase by 160.2% during the fourth quarter. FIL Ltd now owns 1,668,359 shares of the technology company's stock worth $148,834,000 after acquiring an additional 1,027,102 shares during the last quarter. Mawer Investment Management Ltd. acquired a new position in shares of NetEase during the 4th quarter worth approximately $62,593,000. Finally, Davis Selected Advisers acquired a new position in shares of NetEase during the 4th quarter worth approximately $53,287,000. Institutional investors and hedge funds own 11.07% of the company's stock.

NetEase Stock Performance

Shares of NetEase stock traded down $1.61 during trading hours on Friday, hitting $127.02. The company's stock had a trading volume of 605,105 shares, compared to its average volume of 1,542,609. NetEase, Inc. has a twelve month low of $75.85 and a twelve month high of $129.08. The firm has a fifty day moving average of $109.07 and a 200-day moving average of $101.45. The stock has a market cap of $80.48 billion, a price-to-earnings ratio of 19.94, a P/E/G ratio of 3.37 and a beta of 0.67.

NetEase Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 13th. Stockholders of record on Friday, May 30th will be issued a $0.675 dividend. The ex-dividend date of this dividend is Friday, May 30th. This represents a $2.70 annualized dividend and a dividend yield of 2.13%. NetEase's dividend payout ratio is currently 38.71%.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the company. Morgan Stanley boosted their target price on NetEase from $108.00 to $117.00 and gave the stock an "overweight" rating in a report on Wednesday, February 12th. JPMorgan Chase & Co. boosted their price objective on NetEase from $120.00 to $135.00 and gave the stock an "overweight" rating in a research note on Monday, May 19th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of NetEase in a research report on Monday, May 12th. They set a "buy" rating and a $130.00 price target on the stock. Wall Street Zen raised shares of NetEase from a "buy" rating to a "strong-buy" rating in a research report on Thursday, May 22nd. Finally, Barclays boosted their price target 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 equities 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 presently has an average rating of "Buy" and a consensus price target of $119.38.

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.