First Trust Advisors LP Acquires 37,389 Shares of NetEase, Inc. (NASDAQ:NTES)

First Trust Advisors LP raised its position in NetEase, Inc. (NASDAQ:NTES – Get Rating) by 19.9% during the third quarter, according to its most recent 13F filing with the SEC. The fund owned 225,707 shares of the technology company’s stock after buying an additional 37,389 shares during the period. First Trust Advisors LP’s holdings in NetEase were worth $17,063,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Clear Street Markets LLC acquired a new stake in NetEase during the 3rd quarter worth $30,000. FNY Investment Advisers LLC grew its position in shares of NetEase by 549.3% in the third quarter. FNY Investment Advisers LLC now owns 487 shares of the technology company’s stock valued at $36,000 after purchasing an additional 412 shares during the last quarter. CI Investments Inc. grew its position in shares of NetEase by 25.3% in the second quarter. CI Investments Inc. now owns 643 shares of the technology company’s stock valued at $60,000 after purchasing an additional 130 shares during the last quarter. Boston Partners boosted its stake in shares of NetEase by 0.4% in the third quarter. Boston Partners now owns 59,968 shares of the technology company’s stock valued at $80,000 after buying an additional 259 shares during the period. Finally, Ancora Advisors LLC lifted its stake in NetEase by 84.6% during the first quarter. Ancora Advisors LLC now owns 1,200 shares of the technology company’s stock worth $124,000 after purchasing an additional 550 shares during the last quarter. 13.50% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

NTES has been the subject of several research analyst reports. StockNews.com downgraded shares of NetEase from a “strong-buy” rating to a “buy” rating in a report on Thursday. TheStreet upgraded NetEase from a “c+” rating to a “b-” rating in a report on Wednesday, January 18th. JPMorgan Chase & Co. upgraded NetEase from a “neutral” rating to an “overweight” rating and increased their price target for the stock from $85.00 to $100.00 in a report on Tuesday, February 28th. Citigroup increased their price target on NetEase from $100.00 to $115.00 and gave the stock a “buy” rating in a report on Monday, February 27th. Finally, Morgan Stanley increased their price target on NetEase from $85.00 to $95.00 in a report on Wednesday, December 14th. Six equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock has an average rating of “Buy” and an average target price of $112.67.

NetEase Stock Down 2.0 %

Shares of NASDAQ:NTES opened at $81.41 on Friday. The firm has a fifty day moving average price of $85.51 and a two-hundred day moving average price of $77.51. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.32 and a quick ratio of 2.30. NetEase, Inc. has a one year low of $53.09 and a one year high of $108.77. The company has a market cap of $53.30 billion, a price-to-earnings ratio of 17.89, a PEG ratio of 1.24 and a beta of 0.49.

NetEase Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 24th. Shareholders of record on Thursday, March 9th will be paid a $0.27 dividend. This represents a $1.08 annualized dividend and a yield of 1.33%. The ex-dividend date of this dividend is Wednesday, March 8th. NetEase’s dividend payout ratio is presently 23.52%.

NetEase Profile

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NetEase, Inc is an internet technology company, which engages in the provision of premium online services centered around content, community, communication and commerce. It develops and operates some of the most popular PC-client and mobile games in China. The firm also operates some of the most popular international online games in China by partnering with Blizzard Entertainment, Mojang AB (a Microsoft subsidiary) and other global game developers.