WT Asset Management Ltd Has $24.41 Million Position in NetEase, Inc. (NASDAQ:NTES)

WT Asset Management Ltd increased its position in NetEase, Inc. (NASDAQ:NTES - Free Report) by 706.5% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 237,206 shares of the technology company's stock after buying an additional 207,793 shares during the period. NetEase accounts for 2.9% of WT Asset Management Ltd's portfolio, making the stock its 13th largest holding. WT Asset Management Ltd's holdings in NetEase were worth $24,413,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in NTES. Farther Finance Advisors LLC raised its stake in shares of NetEase by 81.7% in the 4th quarter. Farther Finance Advisors LLC now owns 338 shares of the technology company's stock valued at $30,000 after acquiring an additional 152 shares in the last quarter. Mather Group LLC. grew 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 purchasing an additional 283 shares during the last quarter. Live Oak Investment Partners bought a new position in shares of NetEase in the fourth quarter valued at approximately $62,000. SBI Securities Co. Ltd. bought a new position in shares of NetEase in the fourth quarter valued at approximately $110,000. Finally, Toronto Dominion Bank acquired a new stake in shares of NetEase in the fourth quarter worth $145,000. Institutional investors own 11.07% of the company's stock.

Analysts Set New Price Targets

Several brokerages recently commented on NTES. Wall Street Zen upgraded shares of NetEase from a "buy" rating to a "strong-buy" rating in a report on Thursday, May 22nd. JPMorgan Chase & Co. raised their price target on NetEase from $120.00 to $135.00 and gave the company an "overweight" rating in a research report on Monday, May 19th. Deutsche Bank Aktiengesellschaft initiated coverage on NetEase in a research report on Monday, May 12th. They set a "buy" rating and a $130.00 price objective for the company. Finally, Barclays raised their target price on NetEase from $104.00 to $118.00 and gave the company an "equal weight" rating in a report on Friday, May 16th. One equities 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 company. Based on data from MarketBeat, the company currently has a consensus rating of "Buy" and an average target price of $119.38.

NetEase Trading Down 1.6%

NTES stock traded down $2.10 during trading on Wednesday, reaching $132.69. 178,335 shares of the stock were exchanged, compared to its average volume of 1,496,320. NetEase, Inc. has a twelve month low of $75.85 and a twelve month high of $135.32. The company has a market capitalization of $84.07 billion, a P/E ratio of 19.07, a price-to-earnings-growth ratio of 4.69 and a beta of 0.69. The stock has a 50 day simple moving average of $120.58 and a 200-day simple moving average of $106.35.

NetEase Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 13th. Stockholders of record on Friday, May 30th were issued a dividend of $0.675 per share. This represents a $2.70 annualized dividend and a dividend yield of 2.03%. The ex-dividend date of this dividend was Friday, May 30th. NetEase's payout ratio is presently 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.