Range Financial Group LLC Buys Shares of 12,781 NetEase, Inc. $NTES

Key Points

• Range Financial Group LLC purchased a new stake of 12,781 shares of NetEase (NASDAQ:NTES) in Q4, valued at about $1.76 million.
• NetEase declared a quarterly dividend of $1.16 (paid Mar 27; ex-dividend Mar 16), annualized to $4.64 for a 4.2% yield
• Analysts maintain a consensus "Moderate Buy" on NetEase with an average price target of $153.89 (8 Buys, 3 Holds), while the stock recently traded around $110, implying potential upside to the street target.

Range Financial Group LLC purchased a new stake in shares of NetEase, Inc. (NASDAQ:NTES - Free Report) in the fourth quarter, according to its most recent filing with the SEC. The firm purchased 12,781 shares of the technology company's stock, valued at approximately $1,759,000.

Other institutional investors have also modified their holdings of the company. Cornerstone Planning Group LLC purchased a new position in NetEase in the 3rd quarter valued at approximately $33,000. Steigerwald Gordon & Koch Inc. purchased a new stake in NetEase during the third quarter worth $38,000. First Horizon Corp purchased a new stake in NetEase during the third quarter worth $45,000. Mather Group LLC. acquired a new stake in NetEase in the third quarter valued at $46,000. Finally, Spire Wealth Management grew its holdings in NetEase by 29.2% in the third quarter. Spire Wealth Management now owns 332 shares of the technology company's stock valued at $50,000 after purchasing an additional 75 shares during the last quarter. Hedge funds and other institutional investors own 11.07% of the company's stock.

Analysts Set New Price Targets

NTES has been the subject of several research reports. Nomura cut their price target on NetEase from $160.00 to $155.00 and set a "buy" rating for the company in a research note on Friday, February 13th. Weiss Ratings reissued a "hold (c)" rating on shares of NetEase in a research note on Monday, December 22nd. Morgan Stanley restated an "overweight" rating and set a $154.00 target price on shares of NetEase in a report on Monday, March 2nd. Benchmark restated a "buy" rating on shares of NetEase in a research report on Thursday, February 12th. Finally, Citigroup reaffirmed a "buy" rating on shares of NetEase in a report on Wednesday, February 11th. Eight 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 currently has a consensus rating of "Moderate Buy" and an average target price of $153.89.

NetEase Stock Performance

Shares of NTES opened at $110.03 on Tuesday. NetEase, Inc. has a 1 year low of $88.54 and a 1 year high of $159.55. The company's 50 day simple moving average is $120.28 and its 200 day simple moving average is $135.20. The company has a market capitalization of $69.71 billion, a price-to-earnings ratio of 14.99, a PEG ratio of 1.39 and a beta of 0.74.

NetEase Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 27th. Shareholders of record on Monday, March 16th were paid a dividend of $1.16 per share. The ex-dividend date of this dividend was Monday, March 16th. This represents a $4.64 dividend on an annualized basis and a dividend yield of 4.2%. This is a boost from NetEase's previous quarterly dividend of $0.57. NetEase's dividend payout ratio is currently 63.08%.

NetEase 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.

Want to see what other hedge funds are holding NTES? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for NetEase, Inc. (NASDAQ:NTES - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.