Greenleaf Trust Buys Shares of 1,940 NetEase, Inc. $NTES

Greenleaf Trust bought a new stake in NetEase, Inc. (NASDAQ:NTES) in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 1,940 shares of the technology company’s stock, valued at approximately $261,000.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Mirae Asset Global Investments Co. Ltd. increased its holdings in NetEase by 7,698.2% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,817,021 shares of the technology company’s stock valued at $289,928,000 after buying an additional 2,780,897 shares in the last quarter. Dodge & Cox grew its position in shares of NetEase by 5.8% in the first quarter. Dodge & Cox now owns 2,803,664 shares of the technology company’s stock valued at $288,553,000 after purchasing an additional 153,788 shares during the last quarter. Hhlr Advisors LTD. grew its position in shares of NetEase by 3.1% in the first quarter. Hhlr Advisors LTD. now owns 2,668,697 shares of the technology company’s stock valued at $274,662,000 after purchasing an additional 79,754 shares during the last quarter. Wellington Management Group LLP grew its position in shares of NetEase by 111.7% in the first quarter. Wellington Management Group LLP now owns 1,988,541 shares of the technology company’s stock valued at $204,661,000 after purchasing an additional 1,049,023 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD grew its position in shares of NetEase by 54.4% in the first quarter. Price T Rowe Associates Inc. MD now owns 1,977,835 shares of the technology company’s stock valued at $203,560,000 after purchasing an additional 697,192 shares during the last quarter. 11.07% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

NetEase Trading Down 1.1%

NASDAQ:NTES opened at $151.57 on Friday. The firm has a market capitalization of $96.03 billion, a price-to-earnings ratio of 20.51, a PEG ratio of 2.02 and a beta of 0.67. The firm’s fifty day simple moving average is $139.82 and its 200 day simple moving average is $124.98. NetEase, Inc. has a twelve month low of $75.88 and a twelve month high of $159.55.

NetEase Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, September 11th. Investors of record on Thursday, August 28th were paid a dividend of $0.675 per share. The ex-dividend date of this dividend was Thursday, August 28th. This represents a $2.70 annualized dividend and a yield of 1.8%. NetEase’s payout ratio is 30.72%.

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.