Ninety One SA PTY Ltd Has $6.02 Million Position in NetEase, Inc. (NASDAQ:NTES)

Ninety One SA PTY Ltd boosted its position in shares of NetEase, Inc. (NASDAQ:NTES - Free Report) by 1,141.3% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 58,513 shares of the technology company's stock after acquiring an additional 53,799 shares during the period. NetEase accounts for 1.1% of Ninety One SA PTY Ltd's investment portfolio, making the stock its 25th biggest holding. Ninety One SA PTY Ltd's holdings in NetEase were worth $6,023,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. Brighton Jones LLC increased its stake 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 worth $919,000 after purchasing an additional 117 shares during the period. US Bancorp DE grew its holdings in NetEase by 14.4% in the 4th quarter. US Bancorp DE now owns 7,291 shares of the technology company's stock valued at $650,000 after buying an additional 918 shares during the last quarter. Jones Financial Companies Lllp increased its position in NetEase by 58.4% in the 4th quarter. Jones Financial Companies Lllp now owns 3,853 shares of the technology company's stock worth $344,000 after buying an additional 1,420 shares during the period. Assetmark Inc. increased its position in NetEase by 2.8% in the 4th quarter. Assetmark Inc. now owns 39,555 shares of the technology company's stock worth $3,529,000 after buying an additional 1,086 shares during the period. Finally, Raymond James Financial Inc. acquired a new position in shares of NetEase during the fourth quarter worth approximately $2,192,000. 11.07% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several brokerages have recently issued reports on NTES. JPMorgan Chase & Co. raised their price objective on shares of NetEase from $120.00 to $135.00 and gave the stock an "overweight" rating in a research note on Monday, May 19th. Barclays raised their price target on shares of NetEase from $104.00 to $118.00 and gave the stock an "equal weight" rating in a research report on Friday, May 16th. 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, Deutsche Bank Aktiengesellschaft began coverage on NetEase in a research note on Monday, May 12th. They set a "buy" rating and a $130.00 price target on the stock. One analyst has rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, NetEase has a consensus rating of "Buy" and an average target price of $119.38.

NetEase Stock Performance

Shares of NASDAQ:NTES traded up $0.70 during midday trading on Friday, reaching $128.28. 533,143 shares of the company's stock were exchanged, compared to its average volume of 1,477,417. The company's 50 day simple moving average is $124.63 and its two-hundred day simple moving average is $108.41. NetEase, Inc. has a 12 month low of $75.85 and a 12 month high of $135.32. The firm has a market capitalization of $81.28 billion, a PE ratio of 18.46, a price-to-earnings-growth ratio of 4.44 and a beta of 0.69.

NetEase Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, June 13th. Shareholders of record on Friday, May 30th were paid a dividend of $0.675 per share. This represents a $2.70 dividend on an annualized basis and a yield of 2.10%. The ex-dividend date of this dividend was Friday, May 30th. NetEase's dividend payout ratio is 38.71%.

About NetEase

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.