TT International Asset Management LTD Buys New Shares in NetEase, Inc. (NASDAQ:NTES)

TT International Asset Management LTD acquired a new position in shares of NetEase, Inc. (NASDAQ:NTES - Free Report) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 212,964 shares of the technology company's stock, valued at approximately $21,918,000. NetEase makes up approximately 3.2% of TT International Asset Management LTD's portfolio, making the stock its 10th biggest holding.

Several other hedge funds have also recently bought and sold shares of NTES. Blue Trust Inc. boosted its stake in NetEase by 36.7% in the first quarter. Blue Trust Inc. now owns 3,094 shares of the technology company's stock worth $318,000 after purchasing an additional 831 shares in the last quarter. Fifth Third Bancorp increased its position in NetEase by 2.7% in the 1st quarter. Fifth Third Bancorp now owns 5,264 shares of the technology company's stock valued at $542,000 after acquiring an additional 138 shares in the last quarter. Focus Financial Network Inc. raised its stake 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 worth $387,000 after acquiring an additional 200 shares during the last quarter. Moseley Investment Management Inc. acquired a new position in shares of NetEase during the first quarter worth approximately $206,000. Finally, Handelsbanken Fonder AB grew its stake in shares of NetEase by 13.0% during the first quarter. Handelsbanken Fonder AB now owns 502,115 shares of the technology company's stock valued at $51,678,000 after purchasing an additional 57,895 shares during the last quarter. 11.07% of the stock is currently owned by institutional investors and hedge funds.

NetEase Price Performance

Shares of NetEase stock traded up $3.72 during trading hours on Tuesday, hitting $134.05. The company's stock had a trading volume of 992,898 shares, compared to its average volume of 1,527,413. The company has a market capitalization of $84.93 billion, a PE ratio of 19.29, a price-to-earnings-growth ratio of 4.54 and a beta of 0.67. The stock has a 50 day moving average of $116.42 and a 200 day moving average of $104.88. NetEase, Inc. has a 12 month low of $75.85 and a 12 month high of $134.04.

NetEase Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, June 13th. Shareholders of record on Friday, May 30th were paid a $0.675 dividend. This represents a $2.70 dividend on an annualized basis and a yield of 2.01%. The ex-dividend date was Friday, May 30th. NetEase's payout ratio is currently 38.71%.

Analyst Upgrades and Downgrades

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