Novem Group Buys Shares of 8,230 NetEase, Inc. $NTES

Key Points

• Novem Group has acquired 8,230 shares of NetEase, Inc. (NASDAQ: NTES), valued at approximately $1.1 million, highlighting increased institutional interest in the company's stock.
• NetEase recently announced a quarterly dividend of $0.675 per share, with a 1.8% dividend yield and a payout ratio of 30.72%.
• Analysts have given mixed ratings for NetEase, with a target price range from $120 to $161, indicating a consensus average rating of "Moderate Buy."

Novem Group bought a new stake in shares of NetEase, Inc. (NASDAQ:NTES - Free Report) during the second quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 8,230 shares of the technology company's stock, valued at approximately $1,108,000.

A number of other large investors have also recently bought and sold shares of NTES. Sumitomo Mitsui Trust Group Inc. grew its stake in NetEase by 20.8% in the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 8,685 shares of the technology company's stock worth $894,000 after acquiring an additional 1,495 shares during the period. Sequoia Financial Advisors LLC purchased a new stake in NetEase in the 1st quarter worth approximately $398,000. Concurrent Investment Advisors LLC grew its stake in NetEase by 5.4% in the 1st quarter. Concurrent Investment Advisors LLC now owns 2,569 shares of the technology company's stock worth $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 1st quarter. GAMMA Investing LLC now owns 2,573 shares of the technology company's stock worth $265,000 after acquiring an additional 2,548 shares during the period. Finally, Cubist Systematic Strategies LLC purchased a new stake in NetEase in the 1st quarter worth approximately $2,554,000. Institutional investors and hedge funds own 11.07% of the company's stock.

NetEase Stock Up 0.5%

Shares of NASDAQ NTES opened at $150.89 on Friday. NetEase, Inc. has a 52-week low of $75.88 and a 52-week high of $159.55. The firm has a fifty day moving average of $138.21 and a 200-day moving average of $122.83. The stock has a market capitalization of $95.60 billion, a PE ratio of 20.42, a P/E/G ratio of 2.00 and a beta of 0.67.

NetEase Announces Dividend

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

Wall Street Analyst Weigh In

Several analysts have commented on the stock. The Goldman Sachs Group set a $161.00 target price on shares of NetEase and gave the stock a "buy" rating in a research note on Monday, September 15th. Zacks Research cut shares of NetEase from a "strong-buy" rating to a "hold" rating in a research note on Friday, August 15th. Barclays set a $120.00 target price on shares of NetEase and gave the stock an "equal weight" rating in a research note on Monday, August 18th. Arete Research raised shares of NetEase to a "strong-buy" rating in a research note on Wednesday, September 3rd. Finally, JPMorgan Chase & Co. cut shares of NetEase from an "overweight" rating to a "neutral" rating and boosted their price objective for the company from $135.00 to $140.00 in a research note on Monday, July 28th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $132.00.

About NetEase

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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