Ballentine Partners LLC Buys Shares of 3,223 NetEase, Inc. (NASDAQ:NTES)

Ballentine Partners LLC bought a new stake in shares of NetEase, Inc. (NASDAQ:NTES - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 3,223 shares of the technology company's stock, valued at approximately $288,000.

Several other hedge funds and other institutional investors have also made changes to their positions in NTES. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of NetEase by 13,747.9% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 6,258,442 shares of the technology company's stock worth $585,227,000 after purchasing an additional 6,213,248 shares in the last quarter. Hhlr Advisors LTD. grew its holdings in NetEase by 86.8% during the 3rd quarter. Hhlr Advisors LTD. now owns 2,588,943 shares of the technology company's stock valued at $242,092,000 after purchasing an additional 1,203,129 shares in the last quarter. Fisher Asset Management LLC lifted its holdings in NetEase by 7.8% in the 3rd quarter. Fisher Asset Management LLC now owns 1,145,657 shares of the technology company's stock worth $107,130,000 after buying an additional 82,474 shares in the last quarter. Wellington Management Group LLP boosted its position in NetEase by 1.1% in the 3rd quarter. Wellington Management Group LLP now owns 1,020,213 shares of the technology company's stock valued at $95,400,000 after buying an additional 10,920 shares during the last quarter. Finally, Van ECK Associates Corp grew its stake in shares of NetEase by 12.3% during the third quarter. Van ECK Associates Corp now owns 666,411 shares of the technology company's stock valued at $62,316,000 after acquiring an additional 72,988 shares in the last quarter. Institutional investors and hedge funds own 11.07% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts recently commented on NTES shares. Morgan Stanley upgraded NetEase from an "equal weight" rating to an "overweight" rating and boosted their price target for the stock from $90.00 to $108.00 in a research note on Wednesday, January 8th. Bank of America increased their target price on NetEase from $120.00 to $122.00 and gave the company a "buy" rating in a research note on Wednesday, January 15th. Citigroup lifted their price target on shares of NetEase from $108.00 to $115.00 and gave the stock a "buy" rating in a research note on Friday, November 15th. Benchmark reduced their price objective on shares of NetEase from $120.00 to $105.00 and set a "buy" rating on the stock in a research note on Friday, November 15th. Finally, StockNews.com downgraded shares of NetEase from a "strong-buy" rating to a "buy" rating in a research report on Friday, December 6th. One research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $108.71.

NetEase Stock Performance

Shares of NetEase stock traded up $3.73 during trading hours on Friday, reaching $103.18. The company's stock had a trading volume of 1,196,104 shares, compared to its average volume of 1,121,390. NetEase, Inc. has a one year low of $75.85 and a one year high of $114.50. The company's 50 day simple moving average is $92.43 and its 200 day simple moving average is $88.17. The stock has a market cap of $66.26 billion, a P/E ratio of 17.43, a price-to-earnings-growth ratio of 3.33 and a beta of 0.57.

NetEase Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, December 13th. Shareholders of record on Friday, November 29th were paid a $0.435 dividend. The ex-dividend date of this dividend was Friday, November 29th. This represents a $1.74 dividend on an annualized basis and a yield of 1.69%. NetEase's payout ratio is currently 29.22%.

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.