NetEase, Inc. (NASDAQ:NTES) Shares Bought by US Bancorp DE

US Bancorp DE increased its holdings in NetEase, Inc. (NASDAQ:NTES) by 260.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 26,276 shares of the technology company’s stock after purchasing an additional 18,985 shares during the quarter. US Bancorp DE’s holdings in NetEase were worth $2,704,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the business. Brighton Jones LLC lifted its position in shares of 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 in the last quarter. Concurrent Investment Advisors LLC grew its position in NetEase by 5.4% during the first quarter. Concurrent Investment Advisors LLC now owns 2,569 shares of the technology company’s stock valued at $264,000 after purchasing an additional 132 shares in the last quarter. Fifth Third Bancorp increased its stake in NetEase by 2.7% in the 1st quarter. Fifth Third Bancorp now owns 5,264 shares of the technology company’s stock valued at $542,000 after buying an additional 138 shares during the period. Hardy Reed LLC lifted its position in NetEase by 1.7% in the 1st quarter. Hardy Reed LLC now owns 8,394 shares of the technology company’s stock worth $864,000 after buying an additional 139 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its position in NetEase by 1.6% in the 1st quarter. Bank of New York Mellon Corp now owns 9,884 shares of the technology company’s stock worth $1,017,000 after buying an additional 153 shares in the last quarter. 11.07% of the stock is owned by institutional investors and hedge funds.

NetEase Price Performance

Shares of NASDAQ:NTES opened at $131.63 on Thursday. NetEase, Inc. has a fifty-two week low of $75.85 and a fifty-two week high of $141.45. The business has a 50-day moving average of $131.30 and a two-hundred day moving average of $113.46. The stock has a market capitalization of $83.40 billion, a P/E ratio of 18.94, a P/E/G ratio of 4.56 and a beta of 0.67.

NetEase Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 13th. Shareholders of record on Friday, May 30th were given a dividend of $0.675 per share. The ex-dividend date of this dividend was Friday, May 30th. This represents a $2.70 dividend on an annualized basis and a yield of 2.1%. NetEase’s dividend payout ratio is presently 38.71%.

Analyst Upgrades and Downgrades

NTES has been the topic of several research analyst reports. Wall Street Zen upgraded shares of NetEase from a “buy” rating to a “strong-buy” rating in a report on Thursday, May 22nd. Barclays boosted their target price on NetEase from $104.00 to $118.00 and gave the company an “equal weight” rating in a research note on Friday, May 16th. Deutsche Bank Aktiengesellschaft started coverage on NetEase in a research note on Monday, May 12th. They set a “buy” rating and a $130.00 price target for the company. Finally, JPMorgan Chase & Co. lowered NetEase from an “overweight” rating to a “neutral” rating and lifted their price target for the company from $135.00 to $140.00 in a report on Monday, July 28th. Two analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $120.00.

NetEase 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.