China Universal Asset Management Co. Ltd. Buys 13,500 Shares of NetEase, Inc. $NTES

China Universal Asset Management Co. Ltd. lifted its position in shares of NetEase, Inc. (NASDAQ:NTES) by 107.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 26,100 shares of the technology company’s stock after purchasing an additional 13,500 shares during the period. China Universal Asset Management Co. Ltd.’s holdings in NetEase were worth $3,513,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Wellington Management Group LLP increased its stake in NetEase by 111.7% in the 1st quarter. Wellington Management Group LLP now owns 1,988,541 shares of the technology company’s stock valued at $204,661,000 after buying an additional 1,049,023 shares during the last quarter. Price T Rowe Associates Inc. MD grew its holdings in shares of NetEase by 54.4% in the first quarter. Price T Rowe Associates Inc. MD now owns 1,977,835 shares of the technology company’s stock valued at $203,560,000 after acquiring an additional 697,192 shares in the last quarter. Man Group plc increased its position in shares of NetEase by 33.3% during the second quarter. Man Group plc now owns 983,156 shares of the technology company’s stock valued at $132,313,000 after acquiring an additional 245,872 shares during the last quarter. Envestnet Asset Management Inc. lifted its holdings in NetEase by 255.0% during the second quarter. Envestnet Asset Management Inc. now owns 264,463 shares of the technology company’s stock worth $35,591,000 after acquiring an additional 189,963 shares during the period. Finally, BI Asset Management Fondsmaeglerselskab A S boosted its position in NetEase by 103.0% in the second quarter. BI Asset Management Fondsmaeglerselskab A S now owns 332,195 shares of the technology company’s stock worth $44,707,000 after purchasing an additional 168,573 shares during the last quarter. 11.07% of the stock is currently owned by hedge funds and other institutional investors.

NetEase Price Performance

NASDAQ NTES opened at $139.14 on Friday. The company’s 50 day simple moving average is $142.37 and its two-hundred day simple moving average is $138.14. NetEase, Inc. has a 1 year low of $87.67 and a 1 year high of $159.55. The stock has a market capitalization of $88.16 billion, a PE ratio of 17.77, a P/E/G ratio of 1.67 and a beta of 0.68.

NetEase Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 19th. Shareholders of record on Friday, December 5th will be paid a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date is Friday, December 5th. NetEase’s dividend payout ratio is currently 28.99%.

Analyst Ratings Changes

Several brokerages have recently issued reports on NTES. JPMorgan Chase & Co. raised NetEase from a “neutral” rating to an “overweight” rating and raised their target price for the company from $138.00 to $190.00 in a research report on Friday, October 10th. Arete Research upgraded NetEase from a “sell” rating to a “buy” rating and set a $150.00 price objective on the stock in a research note on Wednesday, September 3rd. Wall Street Zen lowered NetEase from a “buy” rating to a “hold” rating in a report on Sunday, November 23rd. Benchmark boosted their target price on NetEase from $145.00 to $158.00 and gave the company a “buy” rating in a research note on Friday, November 21st. Finally, Morgan Stanley reiterated an “overweight” rating and set a $170.00 price target on shares of NetEase in a research note on Wednesday, October 8th. Eight research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $152.33.

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.