Alliancebernstein L.P. raised its position in shares of NetEase, Inc. (NASDAQ:NTES) by 7.1% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 544,257 shares of the technology company’s stock after buying an additional 35,927 shares during the quarter. Alliancebernstein L.P. owned about 0.41% of NetEase worth $163,620,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in NTES. Assetmark Inc. lifted its position in shares of NetEase by 51.0% during the first quarter. Assetmark Inc. now owns 367 shares of the technology company’s stock valued at $104,000 after buying an additional 124 shares during the last quarter. IFP Advisors Inc lifted its position in shares of NetEase by 21.4% during the second quarter. IFP Advisors Inc now owns 391 shares of the technology company’s stock valued at $118,000 after buying an additional 69 shares during the last quarter. Private Advisory Group LLC purchased a new stake in shares of NetEase during the first quarter valued at about $205,000. Huntington National Bank lifted its position in shares of NetEase by 84.7% during the second quarter. Huntington National Bank now owns 700 shares of the technology company’s stock valued at $210,000 after buying an additional 321 shares during the last quarter. Finally, Hikari Power Ltd purchased a new stake in shares of NetEase during the second quarter valued at about $210,000. 50.38% of the stock is owned by institutional investors and hedge funds.

NTES has been the subject of several analyst reports. BidaskClub lowered shares of NetEase from a “strong-buy” rating to a “buy” rating in a research report on Friday, June 16th. Deutsche Bank AG reaffirmed a “buy” rating and issued a $343.00 price objective (up from $300.00) on shares of NetEase in a research report on Tuesday, July 25th. Jefferies Group LLC reaffirmed a “buy” rating and issued a $330.00 price objective on shares of NetEase in a research report on Monday, May 22nd. Vetr raised shares of NetEase from a “buy” rating to a “strong-buy” rating and set a $362.33 price objective for the company in a research report on Tuesday, May 30th. Finally, Standpoint Research lowered shares of NetEase from a “buy” rating to a “reduce” rating and increased their price objective for the company from $345.00 to $360.00 in a research report on Wednesday, June 7th. Four equities research analysts have rated the stock with a sell rating, five have issued a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $306.40.

NetEase, Inc. (NTES) traded down 0.75% during trading on Friday, reaching $273.04. 840,083 shares of the company’s stock were exchanged. The stock has a 50-day moving average of $287.75 and a 200-day moving average of $289.57. NetEase, Inc. has a 52 week low of $208.02 and a 52 week high of $337.55. The stock has a market capitalization of $35.99 billion, a PE ratio of 18.10 and a beta of 0.96.

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 1st. Shareholders of record on Friday, August 25th were paid a $0.83 dividend. This represents a $3.32 dividend on an annualized basis and a yield of 1.22%. The ex-dividend date was Wednesday, August 23rd. NetEase’s dividend payout ratio is currently 25.07%.

COPYRIGHT VIOLATION NOTICE: This piece of content was posted by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are viewing this piece of content on another website, it was copied illegally and reposted in violation of U.S. and international trademark & copyright law. The correct version of this piece of content can be accessed at https://www.thecerbatgem.com/2017/09/09/alliancebernstein-l-p-has-163-62-million-holdings-in-netease-inc-ntes.html.

NetEase Company Profile

NetEase, Inc (NetEase) is a technology company. The Company operates an interactive online community in China and is a provider of Chinese language content and services through its online games, Internet media, e-mail, e-commerce and other businesses. The Company operates through three segments: Online Game Services; Advertising Services, and E-mail, E-commerce and Others.

Institutional Ownership by Quarter for NetEase (NASDAQ:NTES)

Receive News & Stock Ratings for NetEase Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for NetEase Inc. and related stocks with our FREE daily email newsletter.