Hanson & Doremus Investment Management Makes New $269,000 Investment in NetEase, Inc. $NTES

Key Points

• Hanson & Doremus Investment Management has made a new $269,000 investment in NetEase, acquiring 2,000 shares of the company in the second quarter.
• Multiple large investors have significantly increased their holdings in NetEase, with Mirae Asset Global Investments growing its stake by 7,698.2% during the first quarter.
• NetEase recently announced a quarterly dividend of $0.675 per share, resulting in an annualized dividend of $2.70 and a yield of 1.8%.

Hanson & Doremus Investment Management bought a new stake in shares of NetEase, Inc. (NASDAQ:NTES - Free Report) in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund bought 2,000 shares of the technology company's stock, valued at approximately $269,000.

A number of other large investors also recently modified their holdings of NTES. Mirae Asset Global Investments Co. Ltd. grew its position in shares of NetEase by 7,698.2% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,817,021 shares of the technology company's stock valued at $289,928,000 after buying an additional 2,780,897 shares during the last quarter. Wellington Management Group LLP grew its holdings in shares of NetEase by 111.7% during the first quarter. Wellington Management Group LLP now owns 1,988,541 shares of the technology company's stock valued at $204,661,000 after purchasing an additional 1,049,023 shares during the last quarter. Price T Rowe Associates Inc. MD raised its position in shares of NetEase by 54.4% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,977,835 shares of the technology company's stock worth $203,560,000 after purchasing an additional 697,192 shares during the period. New York State Common Retirement Fund acquired a new stake in shares of NetEase during the 1st quarter worth approximately $28,765,000. Finally, TT International Asset Management LTD bought a new stake in shares of NetEase in the 1st quarter worth approximately $21,918,000. 11.07% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. Arete Research upgraded NetEase to a "strong-buy" rating in a research note on Wednesday, September 3rd. Barclays set a $120.00 price target on shares of NetEase and gave the stock an "equal weight" rating in a research report on Monday, August 18th. 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. Wall Street Zen lowered shares of NetEase from a "strong-buy" rating to a "buy" rating in a research note on Saturday, September 20th. Finally, JPMorgan Chase & Co. lowered shares of NetEase from an "overweight" rating to a "neutral" rating and raised their price target for the company from $135.00 to $140.00 in a research note on Monday, July 28th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $132.00.

NetEase Stock Down 2.2%

Shares of NTES opened at $147.62 on Monday. The firm has a market capitalization of $93.53 billion, a PE ratio of 19.98, a P/E/G ratio of 1.97 and a beta of 0.67. The firm has a 50-day moving average price of $138.44 and a 200 day moving average price of $123.39. NetEase, Inc. has a 52-week low of $75.88 and a 52-week high of $159.55.

NetEase Announces Dividend

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

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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