212,964 Shares in NetEase, Inc. (NASDAQ:NTES) Purchased by TT International Asset Management LTD

TT International Asset Management LTD purchased a new position in NetEase, Inc. (NASDAQ:NTES - Free Report) during the 1st quarter, according to its most recent 13F filing with the SEC. The firm purchased 212,964 shares of the technology company's stock, valued at approximately $21,918,000. NetEase comprises approximately 3.2% of TT International Asset Management LTD's investment portfolio, making the stock its 10th largest position.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Brighton Jones LLC raised its stake in NetEase by 1.1% during the 4th quarter. Brighton Jones LLC now owns 10,297 shares of the technology company's stock worth $919,000 after buying an additional 117 shares during the period. Empowered Funds LLC acquired a new stake in NetEase during the 4th quarter worth $174,000. Truist Financial Corp acquired a new stake in NetEase during the 4th quarter worth $218,000. Concurrent Investment Advisors LLC acquired a new stake in NetEase during the 4th quarter worth $217,000. Finally, Infini Capital Management Ltd acquired a new stake in NetEase during the 4th quarter worth $7,315,000. 11.07% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

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

NetEase Trading Down 0.0%

Shares of NASDAQ NTES traded down $0.04 during mid-day trading on Friday, hitting $128.63. The company had a trading volume of 1,459,309 shares, compared to its average volume of 1,534,566. The company has a market capitalization of $81.50 billion, a PE ratio of 18.51, a price-to-earnings-growth ratio of 4.48 and a beta of 0.67. The firm has a 50-day simple moving average of $115.80 and a two-hundred day simple moving average of $104.61. NetEase, Inc. has a one year low of $75.85 and a one year high of $133.80.

NetEase Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 13th. Stockholders of record on Friday, May 30th were issued a $0.675 dividend. This represents a $2.70 annualized dividend and a dividend yield of 2.10%. The ex-dividend date was Friday, May 30th. NetEase's payout ratio is 38.71%.

NetEase Profile

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.