Wellington Management Group LLP Increases Position in NetEase, Inc. $NTES

Key Points

• Wellington Management Group LLP increased its stake in NetEase, Inc. by 111.7%, owning approximately 1,988,541 shares valued at $204.66 million as of the latest SEC filing.
• NetEase announced a quarterly dividend of $0.675, with a 2.1% annual yield, payable on September 11th to shareholders of record.
• Analysts have mixed ratings for NetEase, with a consensus of "Moderate Buy" and a price target of $120.25, despite some firms downgrading their ratings recently.

Wellington Management Group LLP grew its position in shares of NetEase, Inc. (NASDAQ:NTES - Free Report) by 111.7% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,988,541 shares of the technology company's stock after purchasing an additional 1,049,023 shares during the period. Wellington Management Group LLP owned approximately 0.31% of NetEase worth $204,661,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of NTES. Brighton Jones LLC lifted 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 acquiring an additional 117 shares in the last quarter. Geode Capital Management LLC increased its stake in NetEase by 2.8% during the fourth quarter. Geode Capital Management LLC now owns 107,306 shares of the technology company's stock worth $9,573,000 after purchasing an additional 2,873 shares during the period. Raymond James Financial Inc. acquired a new stake in shares of NetEase during the fourth quarter worth about $2,192,000. Mariner LLC boosted its stake in shares of NetEase by 13.2% in the fourth quarter. Mariner LLC now owns 8,569 shares of the technology company's stock valued at $764,000 after purchasing an additional 998 shares during the period. Finally, NewEdge Advisors LLC grew its holdings in shares of NetEase by 14.3% in the fourth quarter. NewEdge Advisors LLC now owns 3,850 shares of the technology company's stock valued at $343,000 after purchasing an additional 481 shares in the last quarter. 11.07% of the stock is currently owned by hedge funds and other institutional investors.

NetEase Trading Up 1.7%

Shares of NASDAQ:NTES opened at $130.52 on Thursday. The company has a market capitalization of $82.70 billion, a PE ratio of 17.66, a P/E/G ratio of 1.70 and a beta of 0.67. NetEase, Inc. has a twelve month low of $75.85 and a twelve month high of $141.45. The firm has a 50 day simple moving average of $131.90 and a 200-day simple moving average of $115.43.

NetEase Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 11th. Shareholders of record on Thursday, August 28th will be paid a $0.675 dividend. This represents a $2.70 annualized dividend and a yield of 2.1%. The ex-dividend date is Thursday, August 28th. NetEase's dividend payout ratio is currently 30.72%.

Analyst Ratings Changes

A number of equities research analysts have issued reports on NTES shares. Wall Street Zen lowered shares of NetEase from a "strong-buy" rating to a "buy" rating in a report on Saturday, August 16th. Barclays set a $120.00 price objective on NetEase and gave the stock an "equal weight" rating in a research report on Monday. Deutsche Bank Aktiengesellschaft initiated coverage on NetEase in a research note on Monday, May 12th. They set a "buy" rating and a $130.00 target price for the company. JPMorgan Chase & Co. cut NetEase from an "overweight" rating to a "neutral" rating and lifted their price objective for the company from $135.00 to $140.00 in a research note on Monday, July 28th. Finally, Zacks Research cut shares of NetEase from a "strong-buy" rating to a "hold" rating in a report on Friday, August 15th. Six research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, NetEase has a consensus rating of "Moderate Buy" and a consensus price target of $120.25.

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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