Erste Asset Management GmbH acquired a new stake in NetEase, Inc. (NASDAQ:NTES - Free Report) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 25,000 shares of the technology company's stock, valued at approximately $2,340,000.
Several other large investors have also bought and sold shares of NTES. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of NetEase by 13,747.9% in the 3rd 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 valued at $585,227,000 after purchasing an additional 6,213,248 shares during the last quarter. Hhlr Advisors LTD. boosted its position in NetEase by 86.8% during the third quarter. Hhlr Advisors LTD. now owns 2,588,943 shares of the technology company's stock valued at $242,092,000 after acquiring an additional 1,203,129 shares during the last quarter. Point72 Hong Kong Ltd grew its holdings in NetEase by 109.0% during the 2nd quarter. Point72 Hong Kong Ltd now owns 1,213,323 shares of the technology company's stock worth $115,969,000 after acquiring an additional 632,896 shares during the period. Healthcare of Ontario Pension Plan Trust Fund raised its position in shares of NetEase by 472.6% in the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 418,000 shares of the technology company's stock worth $39,087,000 after acquiring an additional 345,000 shares in the last quarter. Finally, Assenagon Asset Management S.A. raised its position in shares of NetEase by 65.8% in the 2nd quarter. Assenagon Asset Management S.A. now owns 772,242 shares of the technology company's stock worth $73,811,000 after acquiring an additional 306,500 shares in the last quarter. 11.07% of the stock is owned by institutional investors.
Wall Street Analysts Forecast Growth
NTES has been the subject of several research reports. Bank of America reduced their price target on shares of NetEase from $142.00 to $120.00 and set a "buy" rating for the company in a research report on Friday, August 23rd. Citigroup raised their target price on NetEase from $108.00 to $115.00 and gave the company a "buy" rating in a report on Friday, November 15th. StockNews.com raised NetEase from a "buy" rating to a "strong-buy" rating in a research report on Thursday, November 28th. Jefferies Financial Group cut their price objective on shares of NetEase from $126.00 to $103.00 and set a "buy" rating on the stock in a report on Thursday, August 22nd. Finally, Barclays lowered their target price on shares of NetEase from $104.00 to $82.00 and set an "equal weight" rating for the company in a report on Monday, August 26th. Two research analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, NetEase presently has a consensus rating of "Moderate Buy" and an average target price of $107.29.
Read Our Latest Stock Report on NetEase
NetEase Stock Up 0.6 %
NTES traded up $0.49 during trading on Tuesday, reaching $89.36. 1,243,806 shares of the company were exchanged, compared to its average volume of 1,729,964. The company has a market cap of $57.38 billion, a price-to-earnings ratio of 15.09, a P/E/G ratio of 3.28 and a beta of 0.57. NetEase, Inc. has a 12-month low of $75.85 and a 12-month high of $114.50. The company's 50-day moving average is $85.83 and its two-hundred day moving average is $87.87.
NetEase Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 29th will be paid a $0.435 dividend. The ex-dividend date of this dividend is Friday, November 29th. This represents a $1.74 dividend on an annualized basis and a yield of 1.95%. NetEase's dividend payout ratio is currently 29.22%.
About NetEase
(
Free Report)
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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