Pine Haven Investment Counsel Inc bought a new position in NetEase, Inc. (NASDAQ:NTES - Free Report) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 2,000 shares of the technology company's stock, valued at approximately $206,000.
A number of other institutional investors have also added to or reduced their stakes in NTES. Brighton Jones LLC boosted its holdings in shares of NetEase by 1.1% in the 4th quarter. Brighton Jones LLC now owns 10,297 shares of the technology company's stock worth $919,000 after purchasing an additional 117 shares in the last quarter. Caprock Group LLC purchased a new position in shares of NetEase during the 4th quarter valued at about $239,000. Sumitomo Mitsui Trust Group Inc. lifted its position in NetEase by 1.6% in the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 7,190 shares of the technology company's stock worth $641,000 after buying an additional 114 shares during the last quarter. Empowered Funds LLC purchased a new stake in NetEase in the fourth quarter worth approximately $174,000. Finally, Focus Financial Network Inc. purchased a new stake in NetEase in the fourth quarter worth approximately $318,000. Institutional investors own 11.07% of the company's stock.
Wall Street Analyst Weigh In
Several research analysts have commented on the stock. Morgan Stanley lifted their price target on shares of NetEase from $108.00 to $117.00 and gave the stock an "overweight" rating in a research note on Wednesday, February 12th. Benchmark increased their target price on shares of NetEase from $105.00 to $115.00 and gave the company a "buy" rating in a report on Friday, February 21st. Barclays lifted their target price on shares of NetEase from $104.00 to $118.00 and gave the stock an "equal weight" rating in a research report on Friday, May 16th. JPMorgan Chase & Co. boosted their price target on shares of NetEase from $120.00 to $135.00 and gave the stock an "overweight" rating in a research note on Monday, May 19th. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on shares of NetEase in a research report on Monday, May 12th. They set a "buy" rating and a $130.00 price target for the company. One analyst has rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, NetEase presently has an average rating of "Buy" and a consensus target price of $119.38.
View Our Latest Stock Report on NetEase
NetEase Stock Down 1.3%
Shares of NTES opened at $127.02 on Friday. The stock has a market capitalization of $80.48 billion, a P/E ratio of 19.94, a PEG ratio of 3.37 and a beta of 0.67. NetEase, Inc. has a twelve month low of $75.85 and a twelve month high of $129.08. The firm has a fifty day simple moving average of $109.07 and a two-hundred day simple moving average of $101.45.
NetEase Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Friday, June 13th. Investors of record on Friday, May 30th will be issued a dividend of $0.675 per share. The ex-dividend date is Friday, May 30th. This represents a $2.70 dividend on an annualized basis and a dividend yield of 2.13%. NetEase's dividend payout ratio is presently 38.71%.
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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