Callan Family Office LLC bought a new stake in NetEase, Inc. (NASDAQ:NTES - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 6,141 shares of the technology company's stock, valued at approximately $826,000.
Other hedge funds also recently added to or reduced their stakes in the company. US Bancorp DE boosted its stake in shares of NetEase by 126.8% during the 2nd quarter. US Bancorp DE now owns 59,594 shares of the technology company's stock worth $8,020,000 after acquiring an additional 33,318 shares in the last quarter. InTrack Investment Management Inc acquired a new position in shares of NetEase during the 2nd quarter worth approximately $497,000. Venturi Wealth Management LLC lifted its stake in shares of NetEase by 3.5% in the 2nd quarter. Venturi Wealth Management LLC now owns 2,527 shares of the technology company's stock valued at $340,000 after purchasing an additional 86 shares during the last quarter. Capital Advisors Inc. OK purchased a new stake in NetEase in the second quarter valued at approximately $202,000. Finally, DAVENPORT & Co LLC purchased a new stake in NetEase in the second quarter valued at approximately $1,356,000. 11.07% of the stock is owned by hedge funds and other institutional investors.
NetEase Stock Up 1.7%
Shares of NASDAQ NTES opened at $149.37 on Tuesday. The stock has a market capitalization of $94.64 billion, a PE ratio of 20.21, a P/E/G ratio of 1.96 and a beta of 0.67. The firm has a fifty day moving average of $142.24 and a 200-day moving average of $127.27. NetEase, Inc. has a 52-week low of $75.88 and a 52-week high of $159.55.
NetEase Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Thursday, September 11th. Investors of record on Thursday, August 28th were given a $0.675 dividend. This represents a $2.70 annualized dividend and a dividend yield of 1.8%. The ex-dividend date of this dividend was Thursday, August 28th. NetEase's dividend payout ratio (DPR) is 30.72%.
Wall Street Analysts Forecast Growth
A number of analysts have recently weighed in on the company. Zacks Research lowered NetEase from a "strong-buy" rating to a "hold" rating in a research report on Friday, August 15th. Barclays set a $120.00 price objective on shares of NetEase and gave the company an "equal weight" rating in a research report on Monday, August 18th. Wall Street Zen upgraded shares of NetEase from a "buy" rating to a "strong-buy" rating in a research report on Friday, October 3rd. Morgan Stanley reissued an "overweight" rating and set a $170.00 price objective on shares of NetEase in a research note on Wednesday, October 8th. Finally, The Goldman Sachs Group set a $161.00 price objective on shares of NetEase and gave the stock a "buy" rating in a research note on Monday, September 15th. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $142.30.
Read Our Latest Stock Report on NTES
NetEase Company Profile
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Free Report)
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.
Further Reading
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