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 grew its holdings in shares of NetEase, Inc. (NASDAQ:NTES) by 13,747.9% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 6,258,442 shares of the technology company’s stock after acquiring an additional 6,213,248 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in NetEase were worth $585,227,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the business. RPg Family Wealth Advisory LLC acquired a new position in NetEase during the third quarter worth about $70,000. Healthcare of Ontario Pension Plan Trust Fund raised its stake 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 acquiring an additional 345,000 shares in the last quarter. DRW Securities LLC acquired a new position in NetEase during the third quarter worth about $1,011,000. Fisher Asset Management LLC raised its stake in NetEase by 7.8% during the third quarter. Fisher Asset Management LLC now owns 1,145,657 shares of the technology company’s stock worth $107,130,000 after acquiring an additional 82,474 shares in the last quarter. Finally, Cerity Partners LLC raised its stake in NetEase by 21.4% during the third quarter. Cerity Partners LLC now owns 5,519 shares of the technology company’s stock worth $516,000 after acquiring an additional 972 shares in the last quarter. Institutional investors and hedge funds own 11.07% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on NTES. Bank of America lowered their price objective on NetEase from $142.00 to $120.00 and set a “buy” rating for the company in a research note on Friday, August 23rd. Benchmark lowered their price objective on NetEase from $120.00 to $105.00 and set a “buy” rating for the company in a research note on Friday, November 15th. StockNews.com raised NetEase from a “buy” rating to a “strong-buy” rating in a research note on Thursday. Barclays lowered their price objective on NetEase from $104.00 to $82.00 and set an “equal weight” rating for the company in a research note on Monday, August 26th. Finally, Citigroup upped their price objective on NetEase from $108.00 to $115.00 and gave the company a “buy” rating in a research note on Friday, November 15th. Two research analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $107.29.

NetEase Stock Performance

NetEase stock opened at $86.56 on Friday. The stock has a market capitalization of $55.59 billion, a price-to-earnings ratio of 14.62, a PEG ratio of 3.20 and a beta of 0.57. NetEase, Inc. has a 52-week low of $75.85 and a 52-week high of $115.00. The stock’s 50 day moving average price is $85.44 and its two-hundred day moving average price is $88.31.

NetEase Dividend Announcement

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

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.