Wellington Management Group LLP Raises Holdings in NetEase, Inc. (NASDAQ:NTES)

Wellington Management Group LLP increased its holdings in NetEase, Inc. (NASDAQ:NTES - Free Report) by 1.1% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,020,213 shares of the technology company's stock after purchasing an additional 10,920 shares during the period. Wellington Management Group LLP owned approximately 0.16% of NetEase worth $95,400,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the business. SYSTM Wealth Solutions LLC lifted its stake in shares of NetEase by 55.5% in the 2nd quarter. SYSTM Wealth Solutions LLC now owns 328 shares of the technology company's stock valued at $31,000 after purchasing an additional 117 shares during the last quarter. Ariadne Wealth Management LP bought a new position in shares of NetEase during the 2nd quarter valued at approximately $35,000. Highline Wealth Partners LLC purchased a new stake in NetEase during the 3rd quarter valued at $45,000. RPg Family Wealth Advisory LLC bought a new stake in NetEase in the third quarter worth $70,000. Finally, Allspring Global Investments Holdings LLC purchased a new position in NetEase during the third quarter worth $76,000. Institutional investors own 11.07% of the company's stock.

NetEase Stock Performance

NTES traded down $4.48 during trading on Tuesday, hitting $96.48. 1,304,686 shares of the stock were exchanged, compared to its average volume of 1,735,537. NetEase, Inc. has a 1 year low of $75.85 and a 1 year high of $114.50. The firm has a market cap of $61.96 billion, a price-to-earnings ratio of 16.30, a P/E/G ratio of 3.37 and a beta of 0.57. The firm has a 50 day simple moving average of $85.99 and a 200 day simple moving average of $87.70.

NetEase Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 29th will be issued a $0.435 dividend. The ex-dividend date is Friday, November 29th. This represents a $1.74 annualized dividend and a dividend yield of 1.80%. NetEase's payout ratio is currently 29.22%.

Analyst Upgrades and Downgrades

NTES has been the subject of several analyst reports. Citigroup raised their target price on shares of NetEase from $108.00 to $115.00 and gave the stock a "buy" rating in a report on Friday, November 15th. Benchmark decreased their price objective on shares of NetEase from $120.00 to $105.00 and set a "buy" rating for the company in a research note on Friday, November 15th. Jefferies Financial Group cut their target price on NetEase from $126.00 to $103.00 and set a "buy" rating on the stock in a research note on Thursday, August 22nd. Bank of America decreased their price target on NetEase from $142.00 to $120.00 and set a "buy" rating for the company in a research note on Friday, August 23rd. Finally, StockNews.com downgraded NetEase from a "strong-buy" rating to a "buy" rating in a research report on Friday. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $107.29.

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.