NetEase, Inc. $NTES Stock Position Lifted by Price T Rowe Associates Inc. MD

Key Points

• Price T Rowe Associates Inc. MD increased its stake in NetEase, Inc. by 54.4%, acquiring an additional 697,192 shares, bringing its total ownership to 1,977,835 shares valued at approximately $203.56 million.
• NetEase recently declared a quarterly dividend of $0.675 per share, representing a 2.0% annual yield and a payout ratio of 30.72%.
• Wall Street analysts maintain a consensus rating of "Moderate Buy" for NetEase, with five analysts issuing a Buy rating and three a Hold rating, and an average price target of $122.71.

Price T Rowe Associates Inc. MD lifted its stake in NetEase, Inc. (NASDAQ:NTES - Free Report) by 54.4% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,977,835 shares of the technology company's stock after acquiring an additional 697,192 shares during the period. Price T Rowe Associates Inc. MD owned 0.31% of NetEase worth $203,560,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently made changes to their positions in the company. Mather Group LLC. lifted its stake in shares of NetEase by 1,415.0% in the 1st quarter. Mather Group LLC. now owns 303 shares of the technology company's stock worth $31,000 after acquiring an additional 283 shares during the period. TD Private Client Wealth LLC acquired a new stake in shares of NetEase in the 1st quarter worth approximately $65,000. Farther Finance Advisors LLC lifted its stake in shares of NetEase by 191.7% in the 1st quarter. Farther Finance Advisors LLC now owns 986 shares of the technology company's stock worth $105,000 after acquiring an additional 648 shares during the period. Allianz SE acquired a new stake in shares of NetEase in the 1st quarter worth approximately $110,000. Finally, Greykasell Wealth Strategies Inc. acquired a new stake in shares of NetEase in the 1st quarter worth approximately $144,000. 11.07% of the stock is owned by institutional investors and hedge funds.

NetEase Stock Down 1.4%

Shares of NTES stock traded down $1.97 during trading hours on Friday, reaching $135.69. 140,429 shares of the stock traded hands, compared to its average volume of 1,211,905. NetEase, Inc. has a 1-year low of $75.85 and a 1-year high of $141.45. The business has a fifty day moving average price of $132.48 and a 200 day moving average price of $116.75. The firm has a market capitalization of $85.97 billion, a PE ratio of 18.39, a PEG ratio of 1.80 and a beta of 0.67.

NetEase Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 11th. Stockholders of record on Thursday, August 28th will be issued a dividend of $0.675 per share. The ex-dividend date is Thursday, August 28th. This represents a $2.70 dividend on an annualized basis and a dividend yield of 2.0%. NetEase's payout ratio is currently 36.40%.

Analysts Set New Price Targets

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

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.