DAVENPORT & Co LLC Acquires New Position in NetEase, Inc. $NTES

Key Points

• DAVENPORT & Co LLC acquired a new stake in NetEase, Inc. during the second quarter, purchasing 10,073 shares valued at approximately $1,356,000.
• NetEase recently announced a quarterly dividend of $0.675, resulting in an annualized dividend of $2.70 with a yield of 1.8%.
• Analysts have mixed ratings on NetEase, with a consensus rating of "Moderate Buy" and a target price of $142.30, juxtaposed with a range of ratings from strong buy to hold.

DAVENPORT & Co LLC acquired a new stake in shares of NetEase, Inc. (NASDAQ:NTES - Free Report) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 10,073 shares of the technology company's stock, valued at approximately $1,356,000.

A number of other institutional investors have also modified their holdings of the business. Checchi Capital Advisers LLC grew its position in shares of NetEase by 4.6% during the 2nd quarter. Checchi Capital Advisers LLC now owns 2,347 shares of the technology company's stock valued at $316,000 after buying an additional 103 shares during the last quarter. Brighton Jones LLC grew its position in shares of NetEase by 1.1% during the 4th quarter. Brighton Jones LLC now owns 10,297 shares of the technology company's stock valued at $919,000 after buying an additional 117 shares during the last quarter. Concurrent Investment Advisors LLC grew its position in shares of NetEase by 5.4% during the 1st quarter. Concurrent Investment Advisors LLC now owns 2,569 shares of the technology company's stock valued at $264,000 after buying an additional 132 shares during the last quarter. Fifth Third Bancorp grew its position in shares of NetEase by 2.7% during the 1st quarter. Fifth Third Bancorp now owns 5,264 shares of the technology company's stock valued at $542,000 after buying an additional 138 shares during the last quarter. Finally, Hardy Reed LLC grew its position in shares of NetEase by 1.7% during the 1st quarter. Hardy Reed LLC now owns 8,394 shares of the technology company's stock valued at $864,000 after buying an additional 139 shares during the last quarter. Institutional investors own 11.07% of the company's stock.

NetEase Price Performance

NetEase stock opened at $146.91 on Friday. The firm has a 50 day simple moving average of $141.86 and a 200-day simple moving average of $126.57. The stock has a market capitalization of $93.08 billion, a PE ratio of 19.88, a price-to-earnings-growth ratio of 2.02 and a beta of 0.67. NetEase, Inc. has a 12-month low of $75.88 and a 12-month high of $159.55.

NetEase Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 11th. Stockholders of record on Thursday, August 28th were issued a $0.675 dividend. The ex-dividend date was Thursday, August 28th. This represents a $2.70 annualized dividend and a dividend yield of 1.8%. NetEase's dividend payout ratio (DPR) is 30.72%.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. Weiss Ratings reaffirmed a "hold (c)" rating on shares of NetEase in a research report on Wednesday. Arete raised NetEase from a "sell" rating to a "buy" rating and set a $150.00 price target on the stock in a report on Wednesday, September 3rd. The Goldman Sachs Group set a $161.00 price objective on NetEase and gave the stock a "buy" rating in a research report on Monday, September 15th. Zacks Research downgraded NetEase from a "strong-buy" rating to a "hold" rating in a research report on Friday, August 15th. Finally, Arete Research upgraded NetEase to a "strong-buy" rating in a research report on Wednesday, September 3rd. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and three have given a Hold rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $142.30.

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.

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