UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Has $585.23 Million Stake in NetEase, Inc. (NASDAQ:NTES)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of NetEase, Inc. (NASDAQ:NTES) by 13,747.9% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 6,258,442 shares of the technology company’s stock after buying an additional 6,213,248 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned 0.97% of NetEase worth $585,227,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in NTES. Point72 Hong Kong Ltd increased 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 buying an additional 632,896 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund boosted its position in NetEase by 472.6% during the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 418,000 shares of the technology company’s stock worth $39,087,000 after purchasing an additional 345,000 shares during the period. Assenagon Asset Management S.A. boosted its position in NetEase by 65.8% during the second quarter. Assenagon Asset Management S.A. now owns 772,242 shares of the technology company’s stock worth $73,811,000 after purchasing an additional 306,500 shares during the period. Point72 Asset Management L.P. boosted its position in NetEase by 126.5% during the second quarter. Point72 Asset Management L.P. now owns 525,400 shares of the technology company’s stock worth $50,218,000 after purchasing an additional 293,400 shares during the period. Finally, National Bank of Canada FI boosted its position in NetEase by 5,735.2% during the second quarter. National Bank of Canada FI now owns 281,080 shares of the technology company’s stock worth $27,113,000 after purchasing an additional 276,263 shares during the period. 11.07% of the stock is currently owned by institutional investors and hedge funds.

NetEase Stock Performance

Shares of NetEase stock opened at $86.56 on Friday. NetEase, Inc. has a 52-week low of $75.85 and a 52-week high of $115.00. The firm has a 50-day moving average of $85.44 and a 200-day moving average of $88.31. The stock has a market cap of $55.59 billion, a PE ratio of 14.62, a PEG ratio of 3.20 and a beta of 0.57.

NetEase Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 29th will be given a dividend of $0.435 per share. The ex-dividend date is Friday, November 29th. This represents a $1.74 annualized dividend and a yield of 2.01%. NetEase’s dividend payout ratio is 29.22%.

Analysts Set New Price Targets

A number of research firms have commented on NTES. Citigroup lifted their price objective on shares of NetEase from $108.00 to $115.00 and gave the stock a “buy” rating in a research report on Friday, November 15th. Barclays reduced their price objective on shares of NetEase from $104.00 to $82.00 and set an “equal weight” rating for the company in a research report on Monday, August 26th. Benchmark reduced their price objective on shares of NetEase from $120.00 to $105.00 and set a “buy” rating for the company in a research report on Friday, November 15th. Bank of America reduced their price objective on shares of NetEase from $142.00 to $120.00 and set a “buy” rating for the company in a research report on Friday, August 23rd. Finally, Jefferies Financial Group reduced their target price on shares of NetEase from $126.00 to $103.00 and set a “buy” rating for the company in a research report on Thursday, August 22nd. Two investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, NetEase currently has a consensus rating of “Moderate Buy” and a consensus price target of $107.29.

NetEase Company 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.