198,817 Shares in NetEase, Inc. $NTES Acquired by Perpetual Ltd

Key Points

• Perpetual Ltd acquired 198,817 NetEase shares worth approximately $24.1 million in the third quarter, while institutional investors collectively own 11.07% of the company.
• Analyst sentiment remains favorable but has softened, with six Buy ratings and three Hold ratings producing a consensus “Moderate Buy” rating and an average target price of $159.86.
• NetEase’s stock opened at $125.41, while the company reduced its quarterly dividend to $0.48 from $0.72, resulting in an annualized dividend of $1.92 and a 1.5% yield.

Perpetual Ltd purchased a new position in NetEase, Inc. (NASDAQ:NTES - Free Report) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 198,817 shares of the technology company's stock, valued at approximately $24,089,000.

Several other large investors have also added to or reduced their stakes in the stock. EverSource Wealth Advisors LLC lifted its position in shares of NetEase by 16.0% in the 1st quarter. EverSource Wealth Advisors LLC now owns 777 shares of the technology company's stock worth $87,000 after purchasing an additional 107 shares during the period. Mission Wealth Management LP boosted its stake in shares of NetEase by 4.4% during the 2nd quarter. Mission Wealth Management LP now owns 2,631 shares of the technology company's stock valued at $337,000 after purchasing an additional 110 shares in the last quarter. Rehmann Capital Advisory Group increased its position in shares of NetEase by 4.5% during the second quarter. Rehmann Capital Advisory Group now owns 2,716 shares of the technology company's stock valued at $348,000 after buying an additional 117 shares during the period. Arkadios Wealth Advisors increased its position in shares of NetEase by 6.4% during the first quarter. Arkadios Wealth Advisors now owns 1,978 shares of the technology company's stock valued at $221,000 after buying an additional 119 shares during the period. Finally, Summitry LLC increased its position in shares of NetEase by 4.7% during the first quarter. Summitry LLC now owns 2,901 shares of the technology company's stock valued at $325,000 after buying an additional 129 shares during the period. Institutional investors own 11.07% of the company's stock.

Wall Street Analyst Weigh In

NTES has been the subject of a number of research reports. Weiss Ratings downgraded shares of NetEase from a "hold (c+)" rating to a "hold (c)" rating in a research note on Tuesday, August 4th. Zacks Research cut NetEase from a "strong-buy" rating to a "hold" rating in a research report on Monday, July 27th. The Goldman Sachs Group set a $169.00 target price on NetEase in a report on Wednesday, July 1st. Wall Street Zen lowered NetEase from a "buy" rating to a "hold" rating in a research report on Sunday, August 2nd. Finally, Nomura increased their target price on NetEase from $155.00 to $157.00 and gave the stock a "buy" rating in a research report on Tuesday, August 25th. Six analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. According to data from MarketBeat, NetEase currently has a consensus rating of "Moderate Buy" and a consensus target price of $159.86.

Insider Transactions at NetEase

In related news, VP Aileen Mo sold 716 shares of the stock in a transaction dated Wednesday, September 2nd. The shares were sold at an average price of $120.64, for a total transaction of $86,378.24. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 54.70% of the stock is currently owned by insiders.

NetEase Stock Up 0.9%

NTES stock opened at $125.41 on Tuesday. NetEase, Inc. has a twelve month low of $106.06 and a twelve month high of $153.54. The firm has a market cap of $80.29 billion, a PE ratio of 17.27, a price-to-earnings-growth ratio of 1.46 and a beta of 0.68. The business has a 50 day moving average of $121.75 and a 200 day moving average of $120.92.

NetEase Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, September 18th. Investors of record on Thursday, September 3rd were paid a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a yield of 1.5%. The ex-dividend date was Thursday, September 3rd. This is a negative change from NetEase's previous quarterly dividend of $0.72. NetEase's dividend payout ratio (DPR) is presently 26.31%.

About NetEase

NetEase, Inc NASDAQ: NTES is a China-based internet technology company founded in 1997 by William Ding, who serves as the company's chief executive officer and director. The company develops and operates online services for consumers in China and international markets.

NetEase's primary business is online games, including role-playing, multiplayer, mobile and personal-computer titles. Its portfolio includes franchises such as Fantasy Westward Journey, Westward Journey Online, Knives Out, Identity V and Onmyoji.

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