NetEase, Inc. (NASDAQ:NTES) Shares Bought by State Street Corp

State Street Corp raised its holdings in shares of NetEase, Inc. (NASDAQ:NTES) by 0.3% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 56,729 shares of the technology company’s stock after purchasing an additional 156 shares during the period. State Street Corp’s holdings in NetEase were worth $5,305,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. SYSTM Wealth Solutions LLC increased its position in shares of NetEase by 55.5% in the 2nd quarter. SYSTM Wealth Solutions LLC now owns 328 shares of the technology company’s stock valued at $31,000 after acquiring an additional 117 shares during the period. Ariadne Wealth Management LP acquired a new position in shares of NetEase in the second quarter valued at about $35,000. Highline Wealth Partners LLC acquired a new position in shares of NetEase in the third quarter valued at about $45,000. RPg Family Wealth Advisory LLC purchased a new position in shares of NetEase in the third quarter worth about $70,000. Finally, Allspring Global Investments Holdings LLC acquired a new stake in shares of NetEase during the third quarter worth about $76,000. Hedge funds and other institutional investors own 11.07% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently weighed in on the stock. Benchmark cut their price target on shares of NetEase from $120.00 to $105.00 and set a “buy” rating on the stock in a report on Friday, November 15th. Citigroup increased their price objective on shares of NetEase from $108.00 to $115.00 and gave the stock a “buy” rating in a research note on Friday, November 15th. Finally, StockNews.com lowered shares of NetEase from a “strong-buy” rating to a “buy” rating in a report on Friday, December 6th. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $107.29.

NetEase Stock Performance

NTES stock opened at $91.48 on Monday. NetEase, Inc. has a one year low of $75.85 and a one year high of $114.50. The firm’s fifty day moving average is $86.65 and its 200 day moving average is $87.90. The firm has a market cap of $58.74 billion, a PE ratio of 15.45, a P/E/G ratio of 3.53 and a beta of 0.57.

NetEase Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, December 13th. Stockholders of record on Friday, November 29th were given a dividend of $0.435 per share. This represents a $1.74 dividend on an annualized basis and a dividend yield of 1.90%. The ex-dividend date of this dividend was Friday, November 29th. NetEase’s dividend payout ratio (DPR) is presently 29.22%.

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.