Matthews International Capital Management LLC Purchases 14,277 Shares of NetEase, Inc. $NTES

Matthews International Capital Management LLC grew its position in shares of NetEase, Inc. (NASDAQ:NTES) by 33.3% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 57,127 shares of the technology company’s stock after buying an additional 14,277 shares during the quarter. NetEase makes up about 1.8% of Matthews International Capital Management LLC’s investment portfolio, making the stock its 18th biggest position. Matthews International Capital Management LLC’s holdings in NetEase were worth $7,688,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the company. Brighton Jones LLC grew its stake in NetEase by 1.1% during the fourth quarter. Brighton Jones LLC now owns 10,297 shares of the technology company’s stock worth $919,000 after buying an additional 117 shares during the last quarter. Concurrent Investment Advisors LLC grew its stake in NetEase by 5.4% during the first quarter. Concurrent Investment Advisors LLC now owns 2,569 shares of the technology company’s stock worth $264,000 after buying an additional 132 shares during the last quarter. Fifth Third Bancorp grew its stake in NetEase by 2.7% during the first quarter. Fifth Third Bancorp now owns 5,264 shares of the technology company’s stock worth $542,000 after buying an additional 138 shares during the last quarter. Hardy Reed LLC grew its stake in NetEase by 1.7% during the first quarter. Hardy Reed LLC now owns 8,394 shares of the technology company’s stock worth $864,000 after buying an additional 139 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its stake in NetEase by 1.6% during the first 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 during the last quarter. 11.07% of the stock is owned by institutional investors.

NetEase Stock Performance

NTES opened at $151.57 on Friday. The firm’s fifty day moving average is $139.82 and its two-hundred day moving average is $124.82. The firm has a market cap of $96.03 billion, a PE ratio of 20.51, a price-to-earnings-growth ratio of 2.04 and a beta of 0.67. NetEase, Inc. has a twelve month low of $75.88 and a twelve month high of $159.55.

NetEase Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, September 11th. Shareholders of record on Thursday, August 28th were issued a $0.675 dividend. The ex-dividend date was Thursday, August 28th. This represents a $2.70 annualized dividend and a yield of 1.8%. NetEase’s dividend payout ratio (DPR) is 30.72%.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on NTES. Arete upgraded shares of NetEase from a “sell” rating to a “buy” rating and set a $150.00 target price on the stock in a research report on Wednesday, September 3rd. Weiss Ratings reiterated a “hold (c)” rating on shares of NetEase in a research report on Saturday, September 27th. The Goldman Sachs Group set a $161.00 target price on shares of NetEase and gave the stock a “buy” rating in a research report on Monday, September 15th. Barclays set a $120.00 target price on shares of NetEase and gave the stock an “equal weight” rating in a research report on Monday, August 18th. Finally, JPMorgan Chase & Co. lowered shares of NetEase from an “overweight” rating to a “neutral” rating and upped their target price for the stock from $135.00 to $140.00 in a research report on Monday, July 28th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $132.00.

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.