Fifth Third Bancorp Increases Holdings in NetEase, Inc. $NTES

Key Points

• Fifth Third Bancorp increased its holdings in NetEase, Inc. by 200.4% in the second quarter, bringing their total to 15,812 shares valued at approximately $2.13 million.
• NetEase recently declared a quarterly dividend of $0.675, with an annualized dividend yield of 1.8% and a payout ratio of 30.72%.
• The company's stock is currently down 2.2% and has a market capitalization of $93.53 billion, with analysts setting a target price range between $132.00 and $161.00.

Fifth Third Bancorp increased its holdings in shares of NetEase, Inc. (NASDAQ:NTES - Free Report) by 200.4% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 15,812 shares of the technology company's stock after purchasing an additional 10,548 shares during the period. Fifth Third Bancorp's holdings in NetEase were worth $2,128,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Park Avenue Securities LLC purchased a new stake in NetEase during the 2nd quarter worth $1,909,000. Sowell Financial Services LLC purchased a new position in NetEase in the 2nd quarter valued at about $223,000. UMB Bank n.a. purchased a new position in NetEase in the 2nd quarter valued at about $39,000. Pinnacle Bancorp Inc. boosted its position in NetEase by 758.5% in the 2nd quarter. Pinnacle Bancorp Inc. now owns 455 shares of the technology company's stock valued at $61,000 after buying an additional 402 shares during the last quarter. Finally, Marshall Financial Group LLC purchased a new position in NetEase in the 2nd quarter valued at about $1,165,000. 11.07% of the stock is owned by hedge funds and other institutional investors.

NetEase Stock Down 2.2%

Shares of NASDAQ NTES opened at $147.62 on Friday. The firm's 50-day moving average price is $138.44 and its two-hundred day moving average price is $123.26. NetEase, Inc. has a 52-week low of $75.88 and a 52-week high of $159.55. The stock has a market capitalization of $93.53 billion, a P/E ratio of 19.98, a P/E/G ratio of 1.97 and a beta of 0.67.

NetEase Dividend Announcement

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

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. Zacks Research cut shares of NetEase from a "strong-buy" rating to a "hold" rating in a research report on Friday, August 15th. Arete Research raised shares of NetEase to a "strong-buy" rating in a research report on Wednesday, September 3rd. Wall Street Zen cut shares of NetEase from a "strong-buy" rating to a "buy" rating in a research report on Saturday, September 20th. The Goldman Sachs Group set a $161.00 price objective on shares of NetEase and gave the company a "buy" rating in a research report on Monday, September 15th. Finally, Arete raised shares of NetEase from a "sell" rating to a "buy" rating and set a $150.00 price objective for the company in a research report on Wednesday, September 3rd. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and three have given a Hold rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $132.00.

NetEase Company Profile

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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