Wellington Management Group LLP Increases Stock Holdings in NetEase, Inc. (NASDAQ:NTES)

Wellington Management Group LLP boosted its stake in NetEase, Inc. (NASDAQ:NTES) by 1.1% in the third quarter, HoldingsChannel reports. The institutional investor owned 1,020,213 shares of the technology company’s stock after buying an additional 10,920 shares during the quarter. Wellington Management Group LLP’s holdings in NetEase were worth $95,400,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of NTES. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in NetEase by 13,747.9% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 6,258,442 shares of the technology company’s stock valued at $585,227,000 after buying an additional 6,213,248 shares during the last quarter. Hhlr Advisors LTD. increased its position in shares of NetEase by 86.8% during the third quarter. Hhlr Advisors LTD. now owns 2,588,943 shares of the technology company’s stock valued at $242,092,000 after acquiring an additional 1,203,129 shares during the last quarter. Point72 Hong Kong Ltd lifted its holdings in NetEase by 109.0% during the second quarter. Point72 Hong Kong Ltd now owns 1,213,323 shares of the technology company’s stock worth $115,969,000 after acquiring an additional 632,896 shares during the period. Temasek Holdings Private Ltd purchased a new position in NetEase in the third quarter worth $51,498,000. Finally, Healthcare of Ontario Pension Plan Trust Fund grew its stake in NetEase by 472.6% in the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 418,000 shares of the technology company’s stock valued at $39,087,000 after purchasing an additional 345,000 shares during the period. 11.07% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have commented on NTES. Jefferies Financial Group lowered their price objective on shares of NetEase from $126.00 to $103.00 and set a “buy” rating on the stock in a research report on Thursday, August 22nd. StockNews.com downgraded NetEase from a “strong-buy” rating to a “buy” rating in a research note on Friday. Bank of America decreased their target price on NetEase from $142.00 to $120.00 and set a “buy” rating for the company in a research report on Friday, August 23rd. Benchmark dropped their price target on NetEase from $120.00 to $105.00 and set a “buy” rating on the stock in a research report on Friday, November 15th. Finally, Barclays decreased their price objective on NetEase from $104.00 to $82.00 and set an “equal weight” rating for the company in a report on Monday, August 26th. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, NetEase presently has a consensus rating of “Moderate Buy” and an average target price of $107.29.

NetEase Stock Performance

NASDAQ NTES opened at $100.96 on Tuesday. The stock has a market cap of $64.83 billion, a P/E ratio of 17.05, a price-to-earnings-growth ratio of 3.37 and a beta of 0.57. NetEase, Inc. has a fifty-two week low of $75.85 and a fifty-two week high of $114.50. The stock has a 50 day simple moving average of $85.99 and a two-hundred day simple moving average of $87.70.

NetEase Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 29th will be given a $0.435 dividend. This represents a $1.74 annualized dividend and a dividend yield of 1.72%. The ex-dividend date of this dividend is Friday, November 29th. NetEase’s dividend payout ratio is currently 29.22%.

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.