TD Asset Management Inc. raised its holdings in shares of NetEase Inc (NASDAQ:NTES) by 460.8% in the second quarter, Holdings Channel reports. The institutional investor owned 12,697 shares of the technology company’s stock after buying an additional 10,433 shares during the quarter. TD Asset Management Inc.’s holdings in NetEase were worth $3,248,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also modified their holdings of NTES. Huntington National Bank lifted its holdings in shares of NetEase by 101.0% during the second quarter. Huntington National Bank now owns 209 shares of the technology company’s stock worth $53,000 after buying an additional 105 shares during the last quarter. Close Asset Management Ltd lifted its holdings in shares of NetEase by 233.3% during the first quarter. Close Asset Management Ltd now owns 500 shares of the technology company’s stock worth $121,000 after buying an additional 350 shares during the last quarter. Marshall Wace LLP lifted its holdings in shares of NetEase by 151.2% during the first quarter. Marshall Wace LLP now owns 638 shares of the technology company’s stock worth $154,000 after buying an additional 384 shares during the last quarter. Atlas Capital Advisors LLC acquired a new position in shares of NetEase during the second quarter worth approximately $160,000. Finally, Checchi Capital Advisers LLC acquired a new position in shares of NetEase during the first quarter worth approximately $200,000. Institutional investors own 45.19% of the company’s stock.

NetEase stock opened at $253.36 on Thursday. The stock has a fifty day moving average price of $246.34 and a two-hundred day moving average price of $251.48. NetEase Inc has a 52-week low of $184.60 and a 52-week high of $289.68. The firm has a market capitalization of $34.44 billion, a P/E ratio of 36.88, a P/E/G ratio of 0.80 and a beta of 0.87.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 30th. Shareholders of record on Friday, August 23rd will be paid a dividend of $1.04 per share. This is a positive change from NetEase’s previous quarterly dividend of $0.69. This represents a $4.16 annualized dividend and a yield of 1.64%. The ex-dividend date of this dividend is Thursday, August 22nd. NetEase’s dividend payout ratio is currently 40.03%.

A number of brokerages recently commented on NTES. Jefferies Financial Group began coverage on NetEase in a research note on Monday, August 5th. They issued a “buy” rating and a $274.60 target price for the company. Barclays upped their target price on NetEase from $300.00 to $320.00 and gave the company an “overweight” rating in a research note on Monday, May 20th. TH Capital upped their target price on NetEase from $270.00 to $310.00 and gave the company a “buy” rating in a research note on Monday, May 13th. Goldman Sachs Group lowered NetEase from a “buy” rating to a “neutral” rating in a research note on Sunday, August 11th. Finally, BidaskClub upgraded NetEase from a “strong sell” rating to a “sell” rating in a research note on Monday, August 12th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and twelve have issued a buy rating to the stock. NetEase presently has an average rating of “Buy” and a consensus target price of $277.34.

About NetEase

NetEase, Inc operates an interactive online community in the People's Republic of China. The company operates in four segments: Online Games Services, E-Commerce, Advertising Services, and Innovative Businesses and Other Services. It offers various games in a range of genres through mobile devices and PCs, including role-playing games, MMORPGs, battle arena games, simulation games, collectible card games, first-person shooter games, sandbox games, and other types of games to the Chinese market.

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Institutional Ownership by Quarter for NetEase (NASDAQ:NTES)

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