Victory Capital Management Inc. raised its position in NetEase Inc (NASDAQ:NTES) by 11.1% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 44,781 shares of the technology company’s stock after purchasing an additional 4,491 shares during the quarter. Victory Capital Management Inc.’s holdings in NetEase were worth $10,812,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. BlackRock Inc. lifted its position in shares of NetEase by 12.9% in the fourth quarter. BlackRock Inc. now owns 5,280,932 shares of the technology company’s stock worth $1,242,973,000 after buying an additional 602,693 shares during the last quarter. Vanguard Group Inc lifted its position in shares of NetEase by 1.7% in the third quarter. Vanguard Group Inc now owns 2,562,086 shares of the technology company’s stock worth $584,796,000 after buying an additional 43,455 shares during the last quarter. FMR LLC lifted its position in shares of NetEase by 3.5% in the fourth quarter. FMR LLC now owns 2,172,576 shares of the technology company’s stock worth $511,359,000 after buying an additional 72,461 shares during the last quarter. Overlook Holdings Ltd lifted its position in shares of NetEase by 7.8% in the fourth quarter. Overlook Holdings Ltd now owns 925,560 shares of the technology company’s stock worth $217,849,000 after buying an additional 66,622 shares during the last quarter. Finally, Norges Bank acquired a new stake in shares of NetEase in the fourth quarter worth about $214,335,000. Hedge funds and other institutional investors own 44.96% of the company’s stock.
Shares of NASDAQ NTES traded down $3.18 during trading hours on Wednesday, hitting $259.44. 5,242 shares of the company’s stock were exchanged, compared to its average volume of 762,384. NetEase Inc has a 1-year low of $184.60 and a 1-year high of $289.68. The stock has a market capitalization of $34.35 billion, a PE ratio of 37.68, a P/E/G ratio of 26.06 and a beta of 0.81.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 7th. Investors of record on Friday, May 31st will be given a dividend of $0.69 per share. This represents a $2.76 annualized dividend and a dividend yield of 1.06%. The ex-dividend date is Thursday, May 30th. This is a boost from NetEase’s previous quarterly dividend of $0.48. NetEase’s payout ratio is currently 27.80%.
NTES has been the subject of a number of analyst reports. China Renaissance Securities raised NetEase from a “hold” rating to a “buy” rating in a research report on Thursday, May 16th. Benchmark reaffirmed a “buy” rating and issued a $305.00 price target (up previously from $295.00) on shares of NetEase in a research report on Thursday, May 16th. TH Capital boosted their price target on NetEase from $270.00 to $310.00 and gave the stock a “buy” rating in a research report on Monday, May 13th. ValuEngine raised NetEase from a “hold” rating to a “buy” rating in a research report on Thursday, April 4th. Finally, BidaskClub raised NetEase from a “hold” rating to a “buy” rating in a research report on Thursday, March 14th. Three research analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $280.45.
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NetEase, Inc operates an interactive online community in the People's Republic of China. The company operates in four segments: Online Games Services, E-Commerce, Advertising Services, and Innovative Businesses and Other Services. It offers various games in a range of genres through mobile devices and PCs, including role-playing games, MMORPGs, battle arena games, simulation games, collectible card games, first-person shooter games, sandbox games, and other types of games to the Chinese market.
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