InTrack Investment Management Inc Invests $497,000 in NetEase, Inc. $NTES

Key Points

• InTrack Investment Management Inc has invested approximately $497,000 in NetEase, acquiring 3,692 shares during the 2nd quarter.
• NetEase recently announced a quarterly dividend of $0.675 per share, yielding an annualized basis of 1.8% with a dividend payout ratio of 30.72%.
• Analysts have raised their ratings on NetEase, with Arete Research upgrading it to "strong-buy" and setting a target price of $150.00, while Morgan Stanley issued a target price of $170.00.

InTrack Investment Management Inc acquired a new position in shares of NetEase, Inc. (NASDAQ:NTES - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 3,692 shares of the technology company's stock, valued at approximately $497,000.

Several other large investors also recently made changes to their positions in the stock. Mirae Asset Global Investments Co. Ltd. grew its position in NetEase by 7,698.2% in the first 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 purchasing an additional 2,780,897 shares in the last quarter. Wellington Management Group LLP grew its position in NetEase by 111.7% in 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 in the last quarter. Price T Rowe Associates Inc. MD grew its position in NetEase by 54.4% in the first quarter. Price T Rowe Associates Inc. MD now owns 1,977,835 shares of the technology company's stock valued at $203,560,000 after purchasing an additional 697,192 shares in the last quarter. New York State Common Retirement Fund bought a new position in NetEase in the first quarter valued at $28,765,000. Finally, TT International Asset Management LTD bought a new position in NetEase in the first quarter valued at $21,918,000. Institutional investors own 11.07% of the company's stock.

NetEase Stock Performance

NASDAQ NTES opened at $153.93 on Thursday. The firm has a 50-day moving average of $141.04 and a 200-day moving average of $125.89. The stock has a market cap of $97.53 billion, a PE ratio of 20.83, a P/E/G ratio of 2.00 and a beta of 0.67. 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 announced a quarterly dividend, which was paid on Thursday, September 11th. Stockholders 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%.

Analysts Set New Price Targets

A number of research firms recently weighed in on NTES. Arete raised shares of NetEase from a "sell" rating to a "buy" rating and set a $150.00 target price for the company in a research report on Wednesday, September 3rd. Arete Research raised shares of NetEase to a "strong-buy" rating in a research report on Wednesday, September 3rd. Wall Street Zen upgraded shares of NetEase from a "buy" rating to a "strong-buy" rating in a research note on Friday, October 3rd. Barclays set a $120.00 price target on shares of NetEase and gave the company an "equal weight" rating in a research note on Monday, August 18th. Finally, Morgan Stanley reiterated an "overweight" rating and issued a $170.00 price target on shares of NetEase in a research note on Wednesday. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, NetEase has an average rating of "Moderate Buy" and an average target price of $137.30.

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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