Royal Bank of Canada Increases Position in NetEase, Inc. $NTES

Royal Bank of Canada boosted its stake in shares of NetEase, Inc. (NASDAQ:NTES) by 125.0% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 212,466 shares of the technology company’s stock after acquiring an additional 118,042 shares during the period. Royal Bank of Canada’s holdings in NetEase were worth $21,866,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in NTES. Mirae Asset Global Investments Co. Ltd. raised its position in NetEase by 7,698.2% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,817,021 shares of the technology company’s stock worth $289,928,000 after acquiring an additional 2,780,897 shares during the period. Wellington Management Group LLP raised its position in NetEase by 111.7% during the first quarter. Wellington Management Group LLP now owns 1,988,541 shares of the technology company’s stock worth $204,661,000 after acquiring an additional 1,049,023 shares during the period. Price T Rowe Associates Inc. MD raised its position in NetEase by 54.4% during the first quarter. Price T Rowe Associates Inc. MD now owns 1,977,835 shares of the technology company’s stock worth $203,560,000 after acquiring an additional 697,192 shares during the period. Man Group plc raised its position in NetEase by 98.0% during the fourth quarter. Man Group plc now owns 708,268 shares of the technology company’s stock worth $63,185,000 after acquiring an additional 350,578 shares during the period. Finally, New York State Common Retirement Fund acquired a new position in NetEase during the first quarter worth $28,765,000. 11.07% of the stock is currently owned by institutional investors and hedge funds.

NetEase Trading Up 7.2%

Shares of NTES opened at $144.00 on Tuesday. NetEase, Inc. has a 12-month low of $75.85 and a 12-month high of $144.05. The firm has a 50-day moving average price of $133.04 and a 200 day moving average price of $118.48. The firm has a market capitalization of $91.24 billion, a P/E ratio of 19.49, a P/E/G ratio of 1.79 and a beta of 0.67.

NetEase Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 11th. Investors of record on Thursday, August 28th will be issued a $0.675 dividend. The ex-dividend date of this dividend is Thursday, August 28th. This represents a $2.70 dividend on an annualized basis and a dividend yield of 1.9%. NetEase’s dividend payout ratio is currently 30.72%.

Wall Street Analyst Weigh In

A number of research firms have weighed in on NTES. Arete upgraded shares of NetEase from a “sell” rating to a “buy” rating and set a $150.00 price objective for the company in a research report on Wednesday, September 3rd. Deutsche Bank Aktiengesellschaft assumed coverage on shares of NetEase in a research report on Monday, May 12th. They set a “buy” rating and a $130.00 price objective for the company. 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 report on Monday, July 28th. Zacks Research lowered shares of NetEase from a “strong-buy” rating to a “hold” rating in a report on Friday, August 15th. Finally, Wall Street Zen raised shares of NetEase from a “buy” rating to a “strong-buy” rating in a report on Saturday, August 30th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat.com, NetEase currently has a consensus rating of “Moderate Buy” and a consensus target price of $128.78.

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.