NetEase, Inc. $NTES Shares Acquired by Bank of Montreal Can

Key Points

• Bank of Montreal Can increased its position in NetEase by 1,636.4% in Q3 to 662,557 shares (about 0.10% ownership), valued at roughly $100.7 million.
• Analysts give NTES a consensus rating of “Moderate Buy” (eight Buys, three Holds) with a consensus price target of $153.89.
• NetEase raised its quarterly dividend to $1.16 (annualized $4.64), a 4.0% yield, with record date March 16 and payment March 27, up from the prior $0.57 quarterly payout.

Bank of Montreal Can boosted its position in shares of NetEase, Inc. (NASDAQ:NTES - Free Report) by 1,636.4% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 662,557 shares of the technology company's stock after buying an additional 624,399 shares during the quarter. Bank of Montreal Can owned 0.10% of NetEase worth $100,702,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Smartleaf Asset Management LLC grew its stake in shares of NetEase by 19.3% in the 3rd quarter. Smartleaf Asset Management LLC now owns 457 shares of the technology company's stock worth $69,000 after purchasing an additional 74 shares during the last quarter. Spire Wealth Management raised its holdings in shares of NetEase by 29.2% in the 3rd quarter. Spire Wealth Management now owns 332 shares of the technology company's stock worth $50,000 after purchasing an additional 75 shares in the last quarter. Hardy Reed LLC lifted its stake in NetEase by 0.9% during the third quarter. Hardy Reed LLC now owns 8,538 shares of the technology company's stock valued at $1,298,000 after purchasing an additional 79 shares during the last quarter. AdvisorNet Financial Inc lifted its stake in NetEase by 7.2% during the third quarter. AdvisorNet Financial Inc now owns 1,501 shares of the technology company's stock valued at $228,000 after purchasing an additional 101 shares during the last quarter. Finally, Frank Rimerman Advisors LLC boosted its holdings in NetEase by 1.6% during the second quarter. Frank Rimerman Advisors LLC now owns 6,422 shares of the technology company's stock worth $864,000 after buying an additional 104 shares in the last quarter. 11.07% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have issued reports on the stock. Wall Street Zen lowered shares of NetEase from a "buy" rating to a "hold" rating in a research report on Sunday, November 23rd. Weiss Ratings reissued a "hold (c)" rating on shares of NetEase in a research note on Monday, December 22nd. Nomura decreased their target price on NetEase from $160.00 to $155.00 and set a "buy" rating on the stock in a report on Friday, February 13th. Benchmark reaffirmed a "buy" rating on shares of NetEase in a research report on Thursday, February 12th. Finally, Morgan Stanley reaffirmed an "overweight" rating and set a $154.00 target price on shares of NetEase in a report on Monday, March 2nd. Eight investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $153.89.

NetEase Price Performance

NTES stock opened at $115.26 on Thursday. The firm has a market capitalization of $73.03 billion, a P/E ratio of 15.70, a P/E/G ratio of 1.50 and a beta of 0.74. NetEase, Inc. has a 52-week low of $88.54 and a 52-week high of $159.55. The company's 50 day simple moving average is $127.31 and its 200-day simple moving average is $137.42.

NetEase Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 27th. Stockholders of record on Monday, March 16th will be given a $1.16 dividend. This represents a $4.64 annualized dividend and a dividend yield of 4.0%. This is a boost from NetEase's previous quarterly dividend of $0.57. The ex-dividend date of this dividend is Monday, March 16th. NetEase's payout ratio is 30.93%.

NetEase Company Profile

NetEase, Inc NASDAQ: NTES is a Chinese technology company headquartered in Hangzhou that develops and operates Internet services and products. Founded in 1997 by William Ding (Ding Lei), the company has grown from an early web portal and e-mail provider into a diversified online services group. William Ding has served as the company's founder and long-time leader, guiding its expansion into games, digital content and consumer services.

The company's primary business is interactive entertainment: NetEase Games designs, develops and publishes PC and mobile games for domestic and international audiences, offering a mix of self-developed franchises and titles published under licensing and strategic partnerships.

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