Price T Rowe Associates Inc. MD Buys 697,192 Shares of NetEase, Inc. $NTES

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

Other institutional investors have also recently made changes to their positions in the company. Mather Group LLC. grew its position 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 valued at $31,000 after buying an additional 283 shares during the last quarter. TD Private Client Wealth LLC bought a new stake in shares of NetEase in the 1st quarter valued at about $65,000. Farther Finance Advisors LLC grew its position 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 valued at $105,000 after buying an additional 648 shares during the last quarter. Allianz SE bought a new stake in shares of NetEase in the 1st quarter valued at about $110,000. Finally, Greykasell Wealth Strategies Inc. bought a new stake in shares of NetEase in the 1st quarter valued at about $144,000. Institutional investors own 11.07% of the company's stock.

NetEase Stock Performance

NTES stock opened at $131.89 on Friday. The stock's 50 day simple moving average is $131.93 and its 200 day simple moving average is $115.94. NetEase, Inc. has a fifty-two week low of $75.85 and a fifty-two week high of $141.45. The company has a market cap of $83.56 billion, a P/E ratio of 17.85, a price-to-earnings-growth ratio of 1.74 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. Investors of record on Thursday, August 28th will be paid a dividend of $0.675 per share. This represents a $2.70 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date of this dividend is Thursday, August 28th. NetEase's dividend payout ratio is 30.72%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on NTES shares. Zacks Research downgraded NetEase from a "strong-buy" rating to a "hold" rating in a research note on Friday, August 15th. Deutsche Bank Aktiengesellschaft started coverage on NetEase in a research note on Monday, May 12th. They issued a "buy" rating and a $130.00 price objective on the stock. Wall Street Zen downgraded 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 NetEase and gave the company an "equal weight" rating in a research note on Monday, August 18th. Finally, JPMorgan Chase & Co. downgraded NetEase from an "overweight" rating to a "neutral" rating and boosted their price objective for the company from $135.00 to $140.00 in a research note on Monday, July 28th. Five equities research 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.

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.

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