Brooklyn Investment Group Has $321,000 Holdings in NetEase, Inc. $NTES

Key Points

• Brooklyn Investment Group significantly increased its stake in NetEase, Inc. by 729.3% in the first quarter, acquiring a total of 3,118 shares valued at approximately $321,000.
• Several institutional investors, including Mirae Asset Global Investments Co. Ltd., raised their positions in NetEase, showcasing growing interest in the technology company's stock.
• NetEase recently announced a quarterly dividend of $0.675 per share, translating to an annual yield of 2.1%, with the payment date set for September 11th.

Brooklyn Investment Group raised its stake in NetEase, Inc. (NASDAQ:NTES - Free Report) by 729.3% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,118 shares of the technology company's stock after acquiring an additional 2,742 shares during the quarter. Brooklyn Investment Group's holdings in NetEase were worth $321,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Mather Group LLC. increased its position in NetEase by 1,415.0% in the 1st quarter. Mather Group LLC. now owns 303 shares of the technology company's stock valued at $31,000 after acquiring an additional 283 shares in the last quarter. TD Private Client Wealth LLC acquired a new stake in NetEase in the 1st quarter valued at about $65,000. Farther Finance Advisors LLC increased its position in NetEase by 191.7% in 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. Allianz SE acquired a new stake in NetEase in the 1st quarter valued at about $110,000. Finally, Greykasell Wealth Strategies Inc. acquired a new stake in NetEase in the 1st quarter valued at about $144,000. Institutional investors and hedge funds own 11.07% of the company's stock.

Analyst Upgrades and Downgrades

NTES has been the subject of several analyst reports. Barclays set a $120.00 price target on shares of NetEase and gave the stock an "equal weight" rating in a research report on Monday, August 18th. 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 for the company. JPMorgan Chase & Co. cut shares of NetEase from an "overweight" rating to a "neutral" rating and lifted their price target for the stock from $135.00 to $140.00 in a research report on Monday, July 28th. Wall Street Zen cut shares of NetEase from a "strong-buy" rating to a "buy" rating in a research report on Saturday, August 16th. Finally, Zacks Research cut shares of NetEase from a "strong-buy" rating to a "hold" rating in a research report on Friday, August 15th. Five equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $122.71.

NetEase Stock Up 4.0%

NetEase stock traded up $5.2360 during midday trading on Monday, hitting $137.1260. 831,936 shares of the stock were exchanged, compared to its average volume of 1,220,067. The company has a fifty day simple moving average of $131.93 and a two-hundred day simple moving average of $116.03. NetEase, Inc. has a 52 week low of $75.85 and a 52 week high of $141.45. The stock has a market capitalization of $86.88 billion, a PE ratio of 18.55, a P/E/G ratio of 1.74 and a beta of 0.67.

NetEase Announces Dividend

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

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.