Westpac Banking Corp acquired a new stake in NetEase Inc. (NASDAQ:NTES) during the second quarter, Holdings Channel reports. The fund acquired 38,700 shares of the company’s stock, valued at approximately $7,478,000.

Other institutional investors have also made changes to their positions in the company. Orbis Allan Gray Ltd acquired a new position in shares of NetEase during the first quarter valued at about $1,449,733,000. Lazard Asset Management LLC increased its position in NetEase by 0.4% in the first quarter. Lazard Asset Management LLC now owns 5,028,755 shares of the company’s stock valued at $722,028,000 after buying an additional 21,375 shares during the period. Comgest Global Investors S.A.S. increased its position in NetEase by 0.4% in the second quarter. Comgest Global Investors S.A.S. now owns 2,921,119 shares of the company’s stock valued at $564,418,000 after buying an additional 12,423 shares during the period. Renaissance Technologies LLC increased its position in NetEase by 9.6% in the first quarter. Renaissance Technologies LLC now owns 2,187,700 shares of the company’s stock valued at $314,110,000 after buying an additional 191,600 shares during the period. Finally, BlackRock Institutional Trust Company N.A. increased its position in NetEase by 17.8% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 1,320,917 shares of the company’s stock valued at $189,657,000 after buying an additional 199,253 shares during the period. 60.15% of the stock is currently owned by institutional investors.

NetEase Inc. (NASDAQ:NTES) traded up 4.88% during mid-day trading on Monday, reaching $249.65. 662,424 shares of the company’s stock were exchanged. The company has a market cap of $32.73 billion, a PE ratio of 23.86 and a beta of 1.29. NetEase Inc. has a 52-week low of $110.65 and a 52-week high of $252.42. The stock has a 50-day moving average price of $210.04 and a 200 day moving average price of $171.75.

NetEase (NASDAQ:NTES) last issued its quarterly earnings results on Wednesday, August 17th. The company reported $3.67 earnings per share for the quarter, topping the consensus estimate of $2.61 by $1.06. NetEase had a net margin of 29.34% and a return on equity of 31.47%. Equities analysts predict that NetEase Inc. will post $12.14 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 9th. Stockholders of record on Wednesday, August 31st were issued a $0.78 dividend. This represents a $3.12 annualized dividend and a dividend yield of 1.31%. The ex-dividend date was Monday, August 29th. This is an increase from NetEase’s previous quarterly dividend of $0.73. NetEase’s dividend payout ratio is presently 25.14%.

Several research analysts have recently weighed in on NTES shares. Deutsche Bank AG lifted their target price on shares of NetEase from $190.00 to $207.00 and gave the stock a “buy” rating in a research report on Friday, June 24th. Brean Capital started coverage on shares of NetEase in a research report on Monday, July 18th. They issued a “buy” rating and a $235.00 target price on the stock. Zacks Investment Research downgraded shares of NetEase from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 27th. Vetr downgraded shares of NetEase from a “buy” rating to a “hold” rating and set a $212.23 target price on the stock. in a research report on Monday, August 15th. Finally, Credit Suisse Group AG started coverage on shares of NetEase in a research report on Friday, August 19th. They issued a “neutral” rating and a $230.00 target price on the stock. Three equities research analysts have rated the stock with a sell rating, two have assigned a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $197.91.

About NetEase

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.

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