11,985 Shares in NetEase, Inc. (NASDAQ:NTES) Purchased by RWC Asset Management LLP

RWC Asset Management LLP acquired a new position in NetEase, Inc. (NASDAQ:NTES) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 11,985 shares of the technology company’s stock, valued at approximately $1,233,000.

Several other institutional investors have also bought and sold shares of NTES. Brighton Jones LLC lifted its holdings in NetEase by 1.1% in the fourth quarter. Brighton Jones LLC now owns 10,297 shares of the technology company’s stock worth $919,000 after purchasing an additional 117 shares during the period. Raymond James Financial Inc. acquired a new stake in NetEase in the fourth quarter worth about $2,192,000. HighTower Advisors LLC lifted its holdings in NetEase by 112.1% in the 4th quarter. HighTower Advisors LLC now owns 8,330 shares of the technology company’s stock valued at $743,000 after acquiring an additional 4,402 shares during the last quarter. LPL Financial LLC lifted its holdings in NetEase by 34.9% in the 4th quarter. LPL Financial LLC now owns 23,688 shares of the technology company’s stock valued at $2,113,000 after acquiring an additional 6,122 shares during the last quarter. Finally, Ausdal Financial Partners Inc. acquired a new stake in NetEase in the 4th quarter valued at about $293,000. Institutional investors and hedge funds own 11.07% of the company’s stock.

Wall Street Analysts Forecast Growth

NTES has been the subject of a number of research analyst reports. Deutsche Bank Aktiengesellschaft initiated coverage on shares of NetEase in a report on Monday, May 12th. They issued a “buy” rating and a $130.00 price target for the company. Wall Street Zen raised shares of NetEase from a “buy” rating to a “strong-buy” rating in a report on Thursday, May 22nd. Barclays upped their price target on shares of NetEase from $104.00 to $118.00 and gave the company an “equal weight” rating in a report on Friday, May 16th. Finally, JPMorgan Chase & Co. upped their price target on shares of NetEase from $120.00 to $135.00 and gave the company an “overweight” rating in a report on Monday, May 19th. One equities research analyst has rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, NetEase presently has a consensus rating of “Buy” and an average target price of $119.38.

NetEase Trading Down 0.6%

NASDAQ NTES opened at $135.48 on Friday. The stock’s 50-day moving average price is $129.76 and its two-hundred day moving average price is $111.70. The company has a market cap of $85.84 billion, a PE ratio of 19.49, a PEG ratio of 4.70 and a beta of 0.69. NetEase, Inc. has a 1 year low of $75.85 and a 1 year high of $141.45.

NetEase Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 13th. Shareholders of record on Friday, May 30th were issued a dividend of $0.675 per share. The ex-dividend date was Friday, May 30th. This represents a $2.70 annualized dividend and a yield of 1.99%. NetEase’s payout ratio is presently 38.71%.

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.