American Century Companies Inc. Buys 57,045 Shares of NetEase, Inc. $NTES

Key Points

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American Century Companies Inc. grew its position in NetEase, Inc. (NASDAQ:NTES - Free Report) by 10.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 625,499 shares of the technology company's stock after buying an additional 57,045 shares during the quarter. American Century Companies Inc. owned approximately 0.10% of NetEase worth $64,376,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of NetEase by 7,698.2% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,817,021 shares of the technology company's stock worth $289,928,000 after buying an additional 2,780,897 shares during the period. Capital World Investors lifted its position in shares of NetEase by 40.6% in the fourth quarter. Capital World Investors now owns 3,725,046 shares of the technology company's stock worth $332,311,000 after purchasing an additional 1,074,818 shares in the last quarter. Man Group plc increased its stake in NetEase by 98.0% in the 4th quarter. Man Group plc now owns 708,268 shares of the technology company's stock valued at $63,185,000 after buying an additional 350,578 shares during the period. New York State Common Retirement Fund purchased a new stake in NetEase in the 1st quarter worth approximately $28,765,000. Finally, Northern Trust Corp grew its holdings in shares of NetEase by 138.5% during the 4th quarter. Northern Trust Corp now owns 430,653 shares of the technology company's stock valued at $38,419,000 after acquiring an additional 250,111 shares in the last quarter. Institutional investors and hedge funds own 11.07% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the company. Wall Street Zen downgraded NetEase from a "strong-buy" rating to a "buy" rating in a research note on Saturday, August 16th. Barclays set a $120.00 price target on NetEase and gave the company an "equal weight" rating in a report on Monday. Zacks Research cut shares of NetEase from a "strong-buy" rating to a "hold" rating in a research note on Friday, August 15th. JPMorgan Chase & Co. lowered shares of NetEase from an "overweight" rating to a "neutral" rating and boosted their target price for the stock from $135.00 to $140.00 in a research report on Monday, July 28th. Finally, Deutsche Bank Aktiengesellschaft began coverage on NetEase in a report on Monday, May 12th. They set a "buy" rating and a $130.00 price objective on the stock. Six investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $120.25.

NetEase Stock Up 1.0%

NTES stock traded up $1.35 during trading on Thursday, hitting $131.87. The company had a trading volume of 539,236 shares, compared to its average volume of 828,558. The firm has a 50-day moving average price of $131.88 and a 200-day moving average price of $115.63. The stock has a market cap of $83.55 billion, a price-to-earnings ratio of 17.84, a PEG ratio of 1.73 and a beta of 0.67. NetEase, Inc. has a 12 month low of $75.85 and a 12 month high of $141.45.

NetEase Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 11th. Shareholders of record on Thursday, August 28th will be issued a dividend of $0.675 per share. This represents a $2.70 annualized dividend and a yield of 2.0%. The ex-dividend date of this dividend is Thursday, August 28th. NetEase's payout ratio is currently 36.40%.

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.