Wellington Management Group LLP Has $176.68 Million Holdings in NetEase, Inc. (NASDAQ:NTES)

Wellington Management Group LLP increased its holdings in shares of NetEase, Inc. (NASDAQ:NTES) by 226.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,896,495 shares of the technology company’s stock after buying an additional 1,315,410 shares during the quarter. Wellington Management Group LLP’s holdings in NetEase were worth $176,677,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in NTES. QRG Capital Management Inc. acquired a new stake in NetEase during the 3rd quarter worth $527,000. Envestnet Asset Management Inc. increased its holdings in NetEase by 59.1% during the 3rd quarter. Envestnet Asset Management Inc. now owns 72,172 shares of the technology company’s stock worth $7,229,000 after purchasing an additional 26,818 shares in the last quarter. Aigen Investment Management LP increased its holdings in NetEase by 62.8% during the 3rd quarter. Aigen Investment Management LP now owns 4,960 shares of the technology company’s stock worth $497,000 after purchasing an additional 1,913 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund bought a new position in NetEase during the 3rd quarter worth about $1,813,000. Finally, Northern Trust Corp increased its holdings in NetEase by 4.1% during the 3rd quarter. Northern Trust Corp now owns 219,772 shares of the technology company’s stock worth $22,012,000 after purchasing an additional 8,636 shares in the last quarter. Institutional investors and hedge funds own 11.07% of the company’s stock.

NetEase Price Performance

Shares of NASDAQ NTES opened at $90.63 on Thursday. NetEase, Inc. has a fifty-two week low of $81.30 and a fifty-two week high of $118.89. The stock has a market capitalization of $58.20 billion, a price-to-earnings ratio of 14.05, a PEG ratio of 1.80 and a beta of 0.52. The business has a 50-day moving average of $94.80 and a 200-day moving average of $98.94.

NetEase (NASDAQ:NTES) last posted its quarterly earnings results on Thursday, May 23rd. The technology company reported $1.63 EPS for the quarter, missing analysts’ consensus estimates of $1.68 by ($0.05). NetEase had a return on equity of 24.19% and a net margin of 28.75%. The business had revenue of $3.72 billion for the quarter, compared to the consensus estimate of $3.61 billion. On average, sell-side analysts expect that NetEase, Inc. will post 6.86 EPS for the current year.

NetEase Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 21st. Investors of record on Thursday, June 6th will be issued a dividend of $0.495 per share. This represents a $1.98 dividend on an annualized basis and a yield of 2.18%. The ex-dividend date is Thursday, June 6th. NetEase’s payout ratio is currently 30.54%.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. Morgan Stanley reiterated an “equal weight” rating and set a $100.00 target price (down previously from $120.00) on shares of NetEase in a report on Thursday, May 23rd. Barclays assumed coverage on NetEase in a report on Thursday, June 13th. They set an “equal weight” rating and a $104.00 target price for the company. Benchmark increased their target price on NetEase from $144.00 to $145.00 and gave the stock a “buy” rating in a report on Friday, May 24th. StockNews.com upgraded NetEase from a “buy” rating to a “strong-buy” rating in a report on Wednesday. Finally, HSBC decreased their price objective on NetEase from $130.00 to $126.00 and set a “buy” rating for the company in a report on Wednesday, April 24th. Two investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $123.00.

About NetEase

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.