Avantax Advisory Services Inc. Takes $207,000 Position in NetEase, Inc. (NASDAQ:NTES)

Key Points

• Avantax Advisory Services Inc. has invested approximately $207,000 in NetEase, purchasing 2,013 shares in the first quarter.
• NetEase recently declared a quarterly dividend of $0.675 per share, translating to an annualized dividend of $2.70 and a yield of 2.1%.
• Wall Street analysts have differing ratings on NetEase, with Barclays setting a price target of $118.00, while others have maintained a "Moderate Buy" rating with an average target of $120.00.

Avantax Advisory Services Inc. bought a new stake in shares of NetEase, Inc. (NASDAQ:NTES - Free Report) in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 2,013 shares of the technology company's stock, valued at approximately $207,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in NTES. Advisors Preferred LLC bought a new position in shares of NetEase in the first quarter worth approximately $303,000. Hardy Reed LLC boosted its position in shares of NetEase by 1.7% in the first quarter. Hardy Reed LLC now owns 8,394 shares of the technology company's stock worth $864,000 after purchasing an additional 139 shares during the period. Bear Mountain Capital Inc. bought a new position in shares of NetEase in the first quarter worth approximately $194,000. Bridgewater Advisors Inc. bought a new position in shares of NetEase in the first quarter worth approximately $260,000. Finally, New York State Common Retirement Fund bought a new position in shares of NetEase in the first quarter worth approximately $28,765,000. 11.07% of the stock is owned by hedge funds and other institutional investors.

NetEase Stock Performance

NTES stock traded up $3.93 during trading on Wednesday, hitting $134.90. 1,955,489 shares of the company's stock traded hands, compared to its average volume of 1,238,409. NetEase, Inc. has a 52 week low of $75.85 and a 52 week high of $141.45. The business has a fifty day simple moving average of $131.79 and a 200 day simple moving average of $114.37. The stock has a market capitalization of $85.47 billion, a price-to-earnings ratio of 19.41, a P/E/G ratio of 4.47 and a beta of 0.67.

NetEase Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 13th. Shareholders of record on Friday, May 30th were given a dividend of $0.675 per share. The ex-dividend date was Friday, May 30th. This represents a $2.70 annualized dividend and a yield of 2.0%. NetEase's dividend payout ratio (DPR) is 38.71%.

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. Deutsche Bank Aktiengesellschaft assumed coverage on shares of NetEase in a research report on Monday, May 12th. They issued a "buy" rating and a $130.00 price target for the company. Wall Street Zen upgraded shares of NetEase from a "buy" rating to a "strong-buy" rating in a research report on Thursday, May 22nd. JPMorgan Chase & Co. lowered shares of NetEase from an "overweight" rating to a "neutral" rating and upped their target price for the stock from $135.00 to $140.00 in a research report on Monday, July 28th. Finally, Barclays upped their target price on shares of NetEase from $104.00 to $118.00 and gave the stock an "equal weight" rating in a research report on Friday, May 16th. Two equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $120.00.

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.