Legacy Financial Advisors Inc. Acquires Shares of 2,100 NetEase, Inc. $NTES

Key Points

• Legacy Financial Advisors Inc. has acquired a new position in NetEase, Inc., purchasing 2,100 shares valued at approximately $216,000.
• A significant increase in institutional investment is noted, with Mather Group LLC raising its stake in NetEase by 1,415.0% in the first quarter alone.
• NetEase has announced a quarterly dividend of $0.675 per share, representing an annualized payout of $2.70 with a yield of 2.1%.

Legacy Financial Advisors Inc. bought a new stake in NetEase, Inc. (NASDAQ:NTES - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 2,100 shares of the technology company's stock, valued at approximately $216,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Sumitomo Mitsui Trust Group Inc. grew its stake in NetEase by 20.8% in the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 8,685 shares of the technology company's stock valued at $894,000 after acquiring an additional 1,495 shares during the period. Sequoia Financial Advisors LLC acquired a new position in NetEase in the first quarter valued at about $398,000. Concurrent Investment Advisors LLC grew its stake in NetEase by 5.4% in the first quarter. Concurrent Investment Advisors LLC now owns 2,569 shares of the technology company's stock valued at $264,000 after acquiring an additional 132 shares during the period. GAMMA Investing LLC grew its stake in NetEase by 10,192.0% in the first quarter. GAMMA Investing LLC now owns 2,573 shares of the technology company's stock valued at $265,000 after acquiring an additional 2,548 shares during the period. Finally, Pine Haven Investment Counsel Inc acquired a new position in NetEase in the first quarter valued at about $206,000. 11.07% of the stock is owned by institutional investors and hedge funds.

NetEase Stock Performance

NTES traded up $2.29 on Tuesday, hitting $137.89. 492,005 shares of the company were exchanged, compared to its average volume of 1,220,917. NetEase, Inc. has a 12 month low of $75.85 and a 12 month high of $141.45. The company has a market cap of $87.37 billion, a PE ratio of 18.65, a PEG ratio of 1.74 and a beta of 0.67. The stock's fifty day moving average is $132.02 and its 200-day moving average is $116.25.

NetEase Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 11th. Shareholders of record on Thursday, August 28th will be paid a $0.675 dividend. The ex-dividend date is Thursday, August 28th. This represents a $2.70 annualized dividend and a yield of 2.0%. NetEase's dividend payout ratio is currently 36.40%.

Analyst Ratings Changes

A number of research firms have issued reports on NTES. JPMorgan Chase & Co. cut NetEase from an "overweight" rating to a "neutral" rating and boosted their target price for the company from $135.00 to $140.00 in a research note on Monday, July 28th. Wall Street Zen cut NetEase from a "strong-buy" rating to a "buy" rating in a research report on Saturday, August 16th. Barclays set a $120.00 price objective on NetEase and gave the stock an "equal weight" rating in a research report on Monday, August 18th. Deutsche Bank Aktiengesellschaft initiated coverage on NetEase in a research report on Monday, May 12th. They set a "buy" rating and a $130.00 price objective for the company. Finally, Zacks Research cut NetEase from a "strong-buy" rating to a "hold" rating in a research report on Friday, August 15th. Five investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. According to MarketBeat, NetEase currently has an average rating of "Moderate Buy" and a consensus target price of $122.71.

NetEase 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.