Marks Group Wealth Management Inc Buys New Shares in NetEase, Inc. $NTES

Key Points

• Marks Group Wealth Management Inc has acquired 1,853 shares of NetEase, Inc. (NASDAQ:NTES), valued at approximately $249,000, during the second quarter.
• Multiple large investors including Checchi Capital Advisers LLC and Ninety One North America Inc. have increased their positions in NetEase significantly, reflecting growing confidence in the firm.
• NetEase recently announced a quarterly dividend of $0.675, which translates to an annualized dividend yield of 1.8% and a payout ratio of 30.72%.

Marks Group Wealth Management Inc bought a new position in shares of NetEase, Inc. (NASDAQ:NTES - Free Report) during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 1,853 shares of the technology company's stock, valued at approximately $249,000.

Several other large investors have also recently added to or reduced their stakes in NTES. Checchi Capital Advisers LLC grew its holdings 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 worth $316,000 after purchasing an additional 103 shares in the last quarter. QRG Capital Management Inc. lifted its position in NetEase by 19.3% in the second quarter. QRG Capital Management Inc. now owns 5,759 shares of the technology company's stock worth $775,000 after purchasing an additional 932 shares during the period. Matthews International Capital Management LLC lifted its position in NetEase by 33.3% in the second quarter. Matthews International Capital Management LLC now owns 57,127 shares of the technology company's stock worth $7,688,000 after purchasing an additional 14,277 shares during the period. USA Financial Formulas acquired a new stake in NetEase during the second quarter worth $30,000. Finally, Ninety One North America Inc. increased its holdings in NetEase by 52.5% in the 2nd quarter. Ninety One North America Inc. now owns 483,745 shares of the technology company's stock valued at $65,102,000 after buying an additional 166,432 shares during the period. Institutional investors and hedge funds own 11.07% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. Zacks Research downgraded shares of NetEase from a "strong-buy" rating to a "hold" rating in a report on Friday, August 15th. Arete Research raised shares of NetEase to a "strong-buy" rating in a research report on Wednesday, September 3rd. Weiss Ratings restated a "hold (c)" rating on shares of NetEase in a research note on Saturday, September 27th. Arete upgraded NetEase from a "sell" rating to a "buy" rating and set a $150.00 price objective on the stock in a research note on Wednesday, September 3rd. Finally, The Goldman Sachs Group set a $161.00 target price on NetEase and gave the stock a "buy" rating in a report on Monday, September 15th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and four have assigned a Hold rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $132.00.

NetEase Trading Down 0.3%

NASDAQ:NTES opened at $151.04 on Tuesday. The stock has a market capitalization of $95.70 billion, a P/E ratio of 20.44, a price-to-earnings-growth ratio of 2.02 and a beta of 0.67. NetEase, Inc. has a 1 year low of $75.88 and a 1 year high of $159.55. The firm has a 50 day moving average of $140.21 and a 200-day moving average of $125.53.

NetEase Announces Dividend

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

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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