Park Avenue Securities LLC purchased a new position in NetEase, Inc. (NASDAQ:NTES - Free Report) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 14,188 shares of the technology company's stock, valued at approximately $1,909,000.
Several other large investors have also added to or reduced their stakes in the stock. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of NetEase by 7,698.2% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,817,021 shares of the technology company's stock worth $289,928,000 after purchasing an additional 2,780,897 shares during the period. Wellington Management Group LLP raised its stake in NetEase by 111.7% in the first quarter. Wellington Management Group LLP now owns 1,988,541 shares of the technology company's stock worth $204,661,000 after buying an additional 1,049,023 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in NetEase by 54.4% in the first quarter. Price T Rowe Associates Inc. MD now owns 1,977,835 shares of the technology company's stock worth $203,560,000 after buying an additional 697,192 shares during the period. New York State Common Retirement Fund bought a new stake in NetEase during the 1st quarter valued at approximately $28,765,000. Finally, TT International Asset Management LTD purchased a new position in shares of NetEase during the 1st quarter worth approximately $21,918,000. Institutional investors own 11.07% of the company's stock.
Analyst Ratings Changes
Several brokerages have recently issued reports on NTES. JPMorgan Chase & Co. lowered NetEase from an "overweight" rating to a "neutral" rating and increased their target price for the stock from $135.00 to $140.00 in a research report on Monday, July 28th. Wall Street Zen cut NetEase from a "strong-buy" rating to a "buy" rating in a research note on Saturday, September 20th. Zacks Research lowered NetEase from a "strong-buy" rating to a "hold" rating in a research report on Friday, August 15th. The Goldman Sachs Group set a $161.00 target price on shares of NetEase and gave the company a "buy" rating in a report on Monday, September 15th. Finally, Arete raised shares of NetEase from a "sell" rating to a "buy" rating and set a $150.00 target price on the stock in a research report on Wednesday, September 3rd. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and three have assigned a Hold rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $132.00.
View Our Latest Stock Analysis on NetEase
NetEase Trading Down 1.8%
NetEase stock opened at $150.14 on Thursday. NetEase, Inc. has a 12 month low of $75.88 and a 12 month high of $159.55. The company has a market capitalization of $95.13 billion, a price-to-earnings ratio of 20.32, a price-to-earnings-growth ratio of 2.04 and a beta of 0.67. The business's fifty day simple moving average is $137.86 and its two-hundred day simple moving average is $122.50.
NetEase Announces Dividend
The company also recently disclosed 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. This represents a $2.70 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date was Thursday, August 28th. NetEase's dividend payout ratio (DPR) is currently 30.72%.
NetEase Company Profile
(
Free Report)
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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