Sequoia Financial Advisors LLC Purchases New Position in NetEase, Inc. (NASDAQ:NTES)

Sequoia Financial Advisors LLC purchased a new position in NetEase, Inc. (NASDAQ:NTES - Free Report) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 3,870 shares of the technology company's stock, valued at approximately $398,000.

Several other institutional investors also recently added to or reduced their stakes in the stock. Robeco Institutional Asset Management B.V. increased its stake in NetEase by 1.7% in the 1st quarter. Robeco Institutional Asset Management B.V. now owns 200,174 shares of the technology company's stock worth $20,602,000 after buying an additional 3,283 shares during the period. TT International Asset Management LTD purchased a new position in NetEase in the 1st quarter worth about $21,918,000. Blue Trust Inc. increased its stake in NetEase by 36.7% in the 1st quarter. Blue Trust Inc. now owns 3,094 shares of the technology company's stock worth $318,000 after buying an additional 831 shares during the period. Fifth Third Bancorp increased its stake in NetEase by 2.7% in the 1st quarter. Fifth Third Bancorp now owns 5,264 shares of the technology company's stock worth $542,000 after buying an additional 138 shares during the period. Finally, Focus Financial Network Inc. raised its holdings in shares of NetEase by 5.6% in the first quarter. Focus Financial Network Inc. now owns 3,763 shares of the technology company's stock valued at $387,000 after acquiring an additional 200 shares in the last quarter. Hedge funds and other institutional investors own 11.07% of the company's stock.

NetEase Stock Up 0.5%

Shares of NetEase stock traded up $0.65 on Friday, reaching $133.65. The stock had a trading volume of 377,753 shares, compared to its average volume of 1,495,483. NetEase, Inc. has a 1 year low of $75.85 and a 1 year high of $135.32. The company has a 50 day moving average price of $122.27 and a 200 day moving average price of $107.20. The stock has a market capitalization of $84.68 billion, a P/E ratio of 19.23, a P/E/G ratio of 4.63 and a beta of 0.69.

NetEase Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, June 13th. Shareholders of record on Friday, May 30th were issued a $0.675 dividend. This represents a $2.70 annualized dividend and a yield of 2.02%. The ex-dividend date was Friday, May 30th. NetEase's dividend payout ratio is currently 38.71%.

Analyst Ratings Changes

Several analysts recently weighed in on NTES shares. JPMorgan Chase & Co. lifted their price objective on NetEase from $120.00 to $135.00 and gave the company an "overweight" rating in a report on Monday, May 19th. Wall Street Zen upgraded NetEase from a "buy" rating to a "strong-buy" rating in a report on Thursday, May 22nd. Barclays lifted their price objective on NetEase from $104.00 to $118.00 and gave the company an "equal weight" rating in a report on Friday, May 16th. Finally, Deutsche Bank Aktiengesellschaft started coverage on NetEase in a report on Monday, May 12th. They issued a "buy" rating and a $130.00 price objective for the company. One 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 company's stock. According to data from MarketBeat, NetEase has a consensus rating of "Buy" and an average target price of $119.38.

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.