UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Acquires 6,213,248 Shares of NetEase, Inc. (NASDAQ:NTES)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of NetEase, Inc. (NASDAQ:NTES - Free Report) by 13,747.9% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,258,442 shares of the technology company's stock after acquiring an additional 6,213,248 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned about 0.97% of NetEase worth $585,227,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. RPg Family Wealth Advisory LLC acquired a new stake in NetEase in the 3rd quarter valued at approximately $70,000. Healthcare of Ontario Pension Plan Trust Fund grew its stake in shares of NetEase by 472.6% during 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. DRW Securities LLC acquired a new stake in shares of NetEase in the third quarter valued at approximately $1,011,000. Fisher Asset Management LLC lifted its position in shares of NetEase by 7.8% in the third quarter. Fisher Asset Management LLC now owns 1,145,657 shares of the technology company's stock worth $107,130,000 after purchasing an additional 82,474 shares in the last quarter. Finally, Cerity Partners LLC boosted its holdings in NetEase by 21.4% during the third quarter. Cerity Partners LLC now owns 5,519 shares of the technology company's stock worth $516,000 after purchasing an additional 972 shares during the last quarter. 11.07% of the stock is owned by institutional investors.

NetEase Stock Performance

NASDAQ:NTES traded up $1.35 during mid-day trading on Friday, reaching $87.48. 607,330 shares of the company's stock were exchanged, compared to its average volume of 1,734,200. NetEase, Inc. has a one year low of $75.85 and a one year high of $114.50. The business's fifty day simple moving average is $85.61 and its two-hundred day simple moving average is $88.23. The firm has a market capitalization of $56.18 billion, a PE ratio of 14.78, a price-to-earnings-growth ratio of 3.20 and a beta of 0.57.

NetEase Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 29th will be given a dividend of $0.435 per share. The ex-dividend date of this dividend is Friday, November 29th. This represents a $1.74 dividend on an annualized basis and a dividend yield of 1.99%. NetEase's payout ratio is 29.22%.

Analysts Set New Price Targets

NTES has been the topic of a number of recent research reports. Citigroup lifted their target price on NetEase from $108.00 to $115.00 and gave the company a "buy" rating in a research report on Friday, November 15th. Jefferies Financial Group lowered their price target on NetEase from $126.00 to $103.00 and set a "buy" rating on the stock in a research report on Thursday, August 22nd. Bank of America cut their price objective on NetEase from $142.00 to $120.00 and set a "buy" rating for the company in a report on Friday, August 23rd. Benchmark lowered their target price on shares of NetEase from $120.00 to $105.00 and set a "buy" rating on the stock in a report on Friday, November 15th. Finally, StockNews.com raised shares of NetEase from a "buy" rating to a "strong-buy" rating in a research report on Thursday. Two investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $107.29.

NetEase Company 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.