NetEase, Inc. $NTES Shares Acquired by Brooklyn Investment Group

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 lifted its position in NetEase, Inc. (NASDAQ:NTES - Free Report) by 729.3% in the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 3,118 shares of the technology company's stock after purchasing an additional 2,742 shares during the period. Brooklyn Investment Group's holdings in NetEase were worth $321,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the company. Brighton Jones LLC boosted its holdings in shares of NetEase by 1.1% in the fourth quarter. Brighton Jones LLC now owns 10,297 shares of the technology company's stock valued at $919,000 after purchasing an additional 117 shares during the period. Concurrent Investment Advisors LLC boosted its holdings in shares of NetEase by 5.4% in the first quarter. Concurrent Investment Advisors LLC now owns 2,569 shares of the technology company's stock valued at $264,000 after purchasing an additional 132 shares during the period. Fifth Third Bancorp boosted its holdings in shares of NetEase by 2.7% in the first quarter. Fifth Third Bancorp now owns 5,264 shares of the technology company's stock valued at $542,000 after purchasing an additional 138 shares during the period. Hardy Reed LLC boosted its holdings in shares of NetEase by 1.7% in the first quarter. Hardy Reed LLC now owns 8,394 shares of the technology company's stock valued at $864,000 after purchasing an additional 139 shares during the period. Finally, Bank of New York Mellon Corp boosted its holdings in shares of NetEase by 1.6% in the first quarter. Bank of New York Mellon Corp now owns 9,884 shares of the technology company's stock valued at $1,017,000 after purchasing an additional 153 shares during the period. Hedge funds and other institutional investors own 11.07% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts recently commented on NTES shares. Zacks Research downgraded shares of NetEase from a "strong-buy" rating to a "hold" rating in a research note on Friday, August 15th. Wall Street Zen downgraded shares of NetEase from a "strong-buy" rating to a "buy" rating in a research note on Saturday, August 16th. Barclays set a $120.00 price objective on shares of NetEase and gave the stock an "equal weight" rating in a research note on Monday, August 18th. JPMorgan Chase & Co. downgraded shares of NetEase from an "overweight" rating to a "neutral" rating and boosted their price objective for the stock from $135.00 to $140.00 in a research note on Monday, July 28th. Finally, Deutsche Bank Aktiengesellschaft started coverage on shares of NetEase in a research note on Monday, May 12th. They issued a "buy" rating and a $130.00 price objective for the company. Five investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $122.71.

NetEase Trading Up 2.8%

Shares of NTES stock traded up $3.71 during trading hours on Monday, reaching $135.60. 1,536,980 shares of the company's stock were exchanged, compared to its average volume of 838,654. The stock's 50 day moving average is $132.02 and its 200-day moving average is $116.25. The company has a market cap of $85.91 billion, a price-to-earnings ratio of 18.35, a P/E/G ratio of 1.74 and a beta of 0.67. NetEase, Inc. has a fifty-two week low of $75.85 and a fifty-two week high of $141.45.

NetEase Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 11th. Stockholders of record on Thursday, August 28th will be given a dividend of $0.675 per share. The ex-dividend date of this dividend is Thursday, August 28th. This represents a $2.70 dividend on an annualized basis and a dividend yield of 2.0%. NetEase's dividend payout ratio 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.