Ninety One SA PTY Ltd Grows Position in NetEase, Inc. (NASDAQ:NTES)

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

A number of other institutional investors have also added to or reduced their stakes in the business. China Universal Asset Management Co. Ltd. increased its stake in NetEase by 38.5% in the 1st quarter. China Universal Asset Management Co. Ltd. now owns 12,600 shares of the technology company's stock worth $1,297,000 after acquiring an additional 3,500 shares during the last quarter. Crossmark Global Holdings Inc. increased its position in shares of NetEase by 2.7% during the 1st quarter. Crossmark Global Holdings Inc. now owns 27,284 shares of the technology company's stock valued at $2,808,000 after purchasing an additional 721 shares during the last quarter. TD Private Client Wealth LLC bought a new position in shares of NetEase during the 1st quarter valued at about $65,000. Envestnet Asset Management Inc. increased its position in shares of NetEase by 16.9% during the 1st quarter. Envestnet Asset Management Inc. now owns 74,500 shares of the technology company's stock valued at $7,668,000 after purchasing an additional 10,757 shares during the last quarter. Finally, Penserra Capital Management LLC increased its position in shares of NetEase by 400.9% during the 1st quarter. Penserra Capital Management LLC now owns 17,717 shares of the technology company's stock valued at $1,823,000 after purchasing an additional 14,180 shares during the last quarter. 11.07% of the stock is currently owned by institutional investors.

NetEase Trading Up 0.5%

NASDAQ NTES traded up $0.70 on Friday, hitting $128.28. The company's stock had a trading volume of 149,234 shares, compared to its average volume of 1,474,880. NetEase, Inc. has a 52-week low of $75.85 and a 52-week high of $135.32. The company's 50-day simple moving average is $124.25 and its 200 day simple moving average is $108.17. The firm has a market cap of $81.27 billion, a P/E ratio of 18.45, a PEG ratio of 4.54 and a beta of 0.69.

NetEase Announces Dividend

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

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the company. Deutsche Bank Aktiengesellschaft assumed coverage on NetEase in a research report on Monday, May 12th. They set a "buy" rating and a $130.00 price objective on the stock. JPMorgan Chase & Co. increased their price objective on NetEase from $120.00 to $135.00 and gave the company an "overweight" rating in a research report on Monday, May 19th. Wall Street Zen upgraded NetEase from a "buy" rating to a "strong-buy" rating in a research report on Thursday, May 22nd. Finally, Barclays increased their price objective on NetEase from $104.00 to $118.00 and gave the company an "equal weight" rating in a research report on Friday, May 16th. 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 company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus target price of $119.38.

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.