Vestmark Advisory Solutions Inc. Increases Stake in NetEase, Inc. (NASDAQ:NTES)

Key Points

• Vestmark Advisory Solutions Inc. increased its stake in NetEase, Inc. by 101.0% during the first quarter, owning a total of 10,647 shares valued at approximately $1,096,000.
• Several other institutional investors have also significantly increased their investments in NetEase, with Mather Group LLC raising its holdings by 1,415.0%, and Allianz SE purchasing new stock valued at approximately $110,000.
• NetEase recently announced a quarterly dividend of $0.675 per share, revealing a 2.1% dividend yield and a payout ratio of 38.71%.

Vestmark Advisory Solutions Inc. raised its holdings in shares of NetEase, Inc. (NASDAQ:NTES - Free Report) by 101.0% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 10,647 shares of the technology company's stock after buying an additional 5,351 shares during the period. Vestmark Advisory Solutions Inc.'s holdings in NetEase were worth $1,096,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Mather Group LLC. increased its holdings in NetEase by 1,415.0% during the first quarter. Mather Group LLC. now owns 303 shares of the technology company's stock valued at $31,000 after buying an additional 283 shares during the last quarter. TD Private Client Wealth LLC purchased a new stake in NetEase during the first quarter valued at approximately $65,000. Farther Finance Advisors LLC increased its holdings in NetEase by 191.7% during the first quarter. Farther Finance Advisors LLC now owns 986 shares of the technology company's stock valued at $105,000 after buying an additional 648 shares during the last quarter. Allianz SE purchased a new stake in NetEase during the first quarter valued at approximately $110,000. Finally, Greykasell Wealth Strategies Inc. purchased a new stake in shares of NetEase in the first quarter worth $144,000. 11.07% of the stock is owned by hedge funds and other institutional investors.

NetEase Stock Performance

Shares of NASDAQ:NTES opened at $129.22 on Friday. The firm has a fifty day moving average price of $132.01 and a 200 day moving average price of $114.98. NetEase, Inc. has a fifty-two week low of $75.85 and a fifty-two week high of $141.45. The firm has a market cap of $81.87 billion, a price-to-earnings ratio of 17.49, a P/E/G ratio of 4.48 and a beta of 0.67.

NetEase Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 11th. Investors of record on Thursday, August 28th will be given a dividend of $0.675 per share. The ex-dividend date is Thursday, August 28th. This represents a $2.70 dividend on an annualized basis and a dividend yield of 2.1%. NetEase's dividend payout ratio is currently 38.71%.

Analyst Upgrades and Downgrades

NTES has been the subject of a number of analyst reports. Deutsche Bank Aktiengesellschaft initiated coverage on shares of NetEase in a research note on Monday, May 12th. They issued a "buy" rating and a $130.00 price objective for the company. Barclays increased their price objective on shares of 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 cut shares of NetEase from a "strong-buy" rating to a "buy" rating in a research note on Saturday. Finally, JPMorgan Chase & Co. cut shares of NetEase from an "overweight" rating to a "neutral" rating and increased their price objective for the stock from $135.00 to $140.00 in a research note on Monday, July 28th. Two analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, NetEase has a consensus rating of "Moderate Buy" and an average target price of $120.00.

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.

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