NetEase, Inc. $NTES Shares Purchased by Truist Financial Corp

Key Points

• Truist Financial Corp increased its stake in NetEase, Inc. by 185.2% in the second quarter, acquiring a total of 8,807 shares valued at approximately $1.185 million.
• NetEase announced a quarterly dividend of $0.675 per share, reflecting an annualized dividend of $2.70 and a yield of 1.8%.
• Analysts generally maintain a positive outlook, with Morgan Stanley setting a target price of $170 and the stock receiving a "Moderate Buy" consensus rating.

Truist Financial Corp grew its position in shares of NetEase, Inc. (NASDAQ:NTES - Free Report) by 185.2% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 8,807 shares of the technology company's stock after buying an additional 5,719 shares during the period. Truist Financial Corp's holdings in NetEase were worth $1,185,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Reyes Financial Architecture Inc. grew its position in shares of NetEase by 1,189.5% in the 2nd quarter. Reyes Financial Architecture Inc. now owns 245 shares of the technology company's stock worth $33,000 after acquiring an additional 226 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC acquired a new position in shares of NetEase in the 1st quarter worth approximately $26,000. UMB Bank n.a. acquired a new position in shares of NetEase in the 2nd quarter worth approximately $39,000. Mather Group LLC. grew its position in shares of NetEase by 1,415.0% in the 1st quarter. Mather Group LLC. now owns 303 shares of the technology company's stock worth $31,000 after acquiring an additional 283 shares in the last quarter. Finally, Union Bancaire Privee UBP SA acquired a new position in shares of NetEase in the 2nd quarter worth approximately $42,000. Institutional investors and hedge funds own 11.07% of the company's stock.

NetEase Trading Down 3.1%

Shares of NASDAQ NTES opened at $146.91 on Monday. The stock's 50 day simple moving average is $141.86 and its 200 day simple moving average is $126.93. The company has a market cap of $93.08 billion, a price-to-earnings ratio of 19.88, a price-to-earnings-growth ratio of 1.96 and a beta of 0.67. NetEase, Inc. has a 12-month low of $75.88 and a 12-month high of $159.55.

NetEase Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 11th. Shareholders of record on Thursday, August 28th were paid a dividend of $0.675 per share. The ex-dividend date of this dividend was Thursday, August 28th. This represents a $2.70 annualized dividend and a yield of 1.8%. NetEase's payout ratio is presently 30.72%.

Analyst Ratings Changes

Several research analysts have recently commented on the company. Morgan Stanley reiterated an "overweight" rating and issued a $170.00 target price on shares of NetEase in a research report on Wednesday. Barclays set a $120.00 target price on NetEase and gave the stock an "equal weight" rating in a research report on Monday, August 18th. Wall Street Zen raised NetEase from a "buy" rating to a "strong-buy" rating in a report on Friday, October 3rd. Weiss Ratings reissued a "hold (c)" rating on shares of NetEase in a report on Wednesday, October 8th. Finally, The Goldman Sachs Group set a $161.00 price target on NetEase and gave the stock a "buy" rating in a report on Monday, September 15th. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $142.30.

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.

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