Pine Haven Investment Counsel Inc Makes New Investment in NetEase, Inc. (NASDAQ:NTES)

Pine Haven Investment Counsel Inc acquired a new position in NetEase, Inc. (NASDAQ:NTES - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 2,000 shares of the technology company's stock, valued at approximately $206,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in NTES. Myriad Asset Management US LP acquired a new position in shares of NetEase in the 1st quarter valued at $2,407,000. GAMMA Investing LLC increased its holdings in NetEase by 10,192.0% in the first quarter. GAMMA Investing LLC now owns 2,573 shares of the technology company's stock valued at $265,000 after purchasing an additional 2,548 shares during the last quarter. Toronto Dominion Bank acquired a new position in NetEase in the fourth quarter valued at about $145,000. GF Fund Management CO. LTD. bought a new position in NetEase during the fourth quarter worth about $1,362,000. Finally, Public Employees Retirement System of Ohio grew its position in shares of NetEase by 3.1% during the 4th quarter. Public Employees Retirement System of Ohio now owns 128,316 shares of the technology company's stock worth $11,447,000 after buying an additional 3,883 shares during the period. 11.07% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Morgan Stanley increased their price target on shares of NetEase from $108.00 to $117.00 and gave the company an "overweight" rating in a research report on Wednesday, February 12th. Wall Street Zen raised shares of NetEase from a "buy" rating to a "strong-buy" rating in a research report on Thursday, May 22nd. Benchmark boosted their price target on shares of NetEase from $105.00 to $115.00 and gave the company a "buy" rating in a report on Friday, February 21st. Deutsche Bank Aktiengesellschaft initiated coverage on NetEase in a research note on Monday, May 12th. They set a "buy" rating and a $130.00 price objective on the stock. Finally, JPMorgan Chase & Co. raised their price target on NetEase from $120.00 to $135.00 and gave the stock an "overweight" rating in a research report on Monday, May 19th. One equities research analyst has rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, NetEase presently has an average rating of "Buy" and an average price target of $119.38.

NetEase Price Performance

NASDAQ:NTES traded up $1.15 during trading hours on Tuesday, reaching $131.34. 574,894 shares of the stock were exchanged, compared to its average volume of 1,538,293. The stock has a market cap of $83.22 billion, a PE ratio of 20.62, a PEG ratio of 3.37 and a beta of 0.67. NetEase, Inc. has a twelve month low of $75.85 and a twelve month high of $131.34. The firm has a 50 day moving average of $110.07 and a 200 day moving average of $102.15.

NetEase Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 13th. Investors of record on Friday, May 30th will be given a $0.675 dividend. This represents a $2.70 dividend on an annualized basis and a dividend yield of 2.06%. The ex-dividend date is Friday, May 30th. NetEase's dividend payout ratio is currently 38.71%.

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.