Sequoia Financial Advisors LLC Buys Shares of 3,870 NetEase, Inc. (NASDAQ:NTES)

Sequoia Financial Advisors LLC bought a new stake in shares of NetEase, Inc. (NASDAQ:NTES - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 3,870 shares of the technology company's stock, valued at approximately $398,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Capital World Investors boosted its holdings in shares of NetEase by 40.6% in the fourth quarter. Capital World Investors now owns 3,725,046 shares of the technology company's stock valued at $332,311,000 after purchasing an additional 1,074,818 shares during the period. Greenwoods Asset Management Hong Kong Ltd. lifted its holdings in shares of NetEase by 10.8% in the 4th quarter. Greenwoods Asset Management Hong Kong Ltd. now owns 3,632,870 shares of the technology company's stock worth $324,088,000 after buying an additional 354,273 shares during the period. Lazard Asset Management LLC grew its position in shares of NetEase by 2.0% during the 4th quarter. Lazard Asset Management LLC now owns 3,599,794 shares of the technology company's stock worth $321,137,000 after buying an additional 69,789 shares in the last quarter. Dodge & Cox grew its position in shares of NetEase by 0.6% during the 4th quarter. Dodge & Cox now owns 2,649,876 shares of the technology company's stock worth $236,395,000 after buying an additional 15,900 shares in the last quarter. Finally, Invesco Ltd. increased its stake in shares of NetEase by 88.0% during the fourth quarter. Invesco Ltd. now owns 2,365,464 shares of the technology company's stock valued at $211,023,000 after buying an additional 1,107,363 shares during the period. 11.07% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have commented on the stock. Wall Street Zen raised shares of NetEase from a "buy" rating to a "strong-buy" rating in a research report on Thursday, May 22nd. Deutsche Bank Aktiengesellschaft assumed coverage on shares of NetEase in a report on Monday, May 12th. They set a "buy" rating and a $130.00 price objective on the stock. JPMorgan Chase & Co. upped their target price on NetEase from $120.00 to $135.00 and gave the stock an "overweight" rating in a report on Monday, May 19th. Finally, Barclays lifted their price target on NetEase from $104.00 to $118.00 and gave the company an "equal weight" rating in a report on Friday, May 16th. One investment analyst has rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Buy" and an average target price of $119.38.

NetEase Price Performance

Shares of NASDAQ NTES opened at $133.00 on Thursday. The stock has a market capitalization of $84.27 billion, a P/E ratio of 19.14, a price-to-earnings-growth ratio of 4.69 and a beta of 0.69. NetEase, Inc. has a 1-year low of $75.85 and a 1-year high of $135.32. The business has a fifty day moving average price of $121.16 and a 200 day moving average price of $106.53.

NetEase Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 13th. Investors of record on Friday, May 30th were given a dividend of $0.675 per share. This represents a $2.70 annualized dividend and a yield of 2.03%. The ex-dividend date of this dividend was Friday, May 30th. NetEase's dividend payout ratio is currently 38.71%.

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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