US Bancorp DE Increases Position in NetEase, Inc. (NASDAQ:NTES)

US Bancorp DE increased its position in shares of NetEase, Inc. (NASDAQ:NTES - Free Report) by 260.4% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 26,276 shares of the technology company's stock after purchasing an additional 18,985 shares during the quarter. US Bancorp DE's holdings in NetEase were worth $2,704,000 as of its most recent filing with the SEC.

Several other large investors have also recently made changes to their positions in the company. Mather Group LLC. grew its holdings in shares of NetEase by 1,415.0% during the first quarter. Mather Group LLC. now owns 303 shares of the technology company's stock worth $31,000 after buying an additional 283 shares in the last quarter. TD Private Client Wealth LLC purchased a new stake in NetEase during the 1st quarter valued at about $65,000. Farther Finance Advisors LLC grew its stake in NetEase by 191.7% during the 1st quarter. Farther Finance Advisors LLC now owns 986 shares of the technology company's stock valued at $105,000 after acquiring an additional 648 shares in the last quarter. Toronto Dominion Bank acquired a new stake in NetEase in the 4th quarter valued at about $145,000. Finally, Bear Mountain Capital Inc. purchased a new position in NetEase in the 1st quarter worth approximately $194,000. 11.07% of the stock is currently owned by hedge funds and other institutional investors.

NetEase Stock Down 0.5%

NASDAQ:NTES traded down $0.71 on Thursday, reaching $130.92. The company's stock had a trading volume of 760,572 shares, compared to its average volume of 650,100. NetEase, Inc. has a 12-month low of $75.85 and a 12-month high of $141.45. The stock has a 50 day moving average price of $131.44 and a 200 day moving average price of $113.68. The firm has a market cap of $82.95 billion, a price-to-earnings ratio of 18.84, a price-to-earnings-growth ratio of 4.57 and a beta of 0.67.

NetEase Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 13th. Shareholders of record on Friday, May 30th were given a $0.675 dividend. The ex-dividend date of this dividend was Friday, May 30th. This represents a $2.70 dividend on an annualized basis and a yield of 2.1%. NetEase's dividend payout ratio is presently 38.71%.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on NTES. Deutsche Bank Aktiengesellschaft initiated coverage on NetEase in a research report on Monday, May 12th. They issued a "buy" rating and a $130.00 price target for the company. Barclays raised their target price on NetEase from $104.00 to $118.00 and gave the stock an "equal weight" rating in a research note on Friday, May 16th. JPMorgan Chase & Co. cut shares of NetEase from an "overweight" rating to a "neutral" rating and boosted their price target for the company from $135.00 to $140.00 in a research report on Monday, July 28th. Finally, Wall Street Zen raised shares of NetEase from a "buy" rating to a "strong-buy" rating in a report on Thursday, May 22nd. Two equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, NetEase currently has an average rating of "Moderate Buy" and a consensus target price of $120.00.

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.