NetEase, Inc. $NTES Shares Acquired by Royal Bank of Canada

Royal Bank of Canada increased its position in shares of NetEase, Inc. (NASDAQ:NTES - Free Report) by 125.0% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 212,466 shares of the technology company's stock after purchasing an additional 118,042 shares during the period. Royal Bank of Canada's holdings in NetEase were worth $21,866,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in NTES. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of NetEase by 7,698.2% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,817,021 shares of the technology company's stock worth $289,928,000 after purchasing an additional 2,780,897 shares during the period. Wellington Management Group LLP boosted its stake in shares of NetEase by 111.7% during the 1st quarter. Wellington Management Group LLP now owns 1,988,541 shares of the technology company's stock worth $204,661,000 after purchasing an additional 1,049,023 shares during the period. Price T Rowe Associates Inc. MD boosted its stake in shares of NetEase by 54.4% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,977,835 shares of the technology company's stock worth $203,560,000 after purchasing an additional 697,192 shares during the period. Man Group plc boosted its stake in shares of NetEase by 98.0% during the 4th quarter. Man Group plc now owns 708,268 shares of the technology company's stock worth $63,185,000 after purchasing an additional 350,578 shares during the period. Finally, New York State Common Retirement Fund purchased a new position in shares of NetEase during the 1st quarter worth about $28,765,000. 11.07% of the stock is owned by hedge funds and other institutional investors.

NetEase Price Performance

Shares of NASDAQ:NTES traded up $2.70 during trading hours on Friday, hitting $152.80. The company's stock had a trading volume of 706,264 shares, compared to its average volume of 683,893. NetEase, Inc. has a 52 week low of $75.88 and a 52 week high of $152.91. The company has a market capitalization of $96.81 billion, a price-to-earnings ratio of 20.68, a P/E/G ratio of 2.00 and a beta of 0.67. The firm's fifty day moving average price is $134.19 and its 200 day moving average price is $119.69.

NetEase Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 11th. Investors of record on Thursday, August 28th were paid a dividend of $0.675 per share. This represents a $2.70 annualized dividend and a dividend yield of 1.8%. The ex-dividend date was Thursday, August 28th. NetEase's payout ratio is 30.72%.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on NTES shares. Wall Street Zen raised shares of NetEase from a "buy" rating to a "strong-buy" rating in a research note on Saturday, August 30th. Zacks Research cut shares of NetEase from a "strong-buy" rating to a "hold" rating in a research report on Friday, August 15th. Arete Research raised shares of NetEase to a "strong-buy" rating in a research report on Wednesday, September 3rd. Arete raised shares of NetEase from a "sell" rating to a "buy" rating and set a $150.00 price objective for the company in a research report on Wednesday, September 3rd. Finally, JPMorgan Chase & Co. cut shares of 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 report on Monday, July 28th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and three have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $128.78.

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.