Royal Capital Wealth Management LLC Takes Position in NetEase, Inc. $NTES

Key Points

• Royal Capital Wealth Management LLC has acquired a new position in NetEase, purchasing 2,000 shares valued at approximately $206,000 in the first quarter.
• NetEase recently declared a quarterly dividend of $0.675 per share, translating to an annualized yield of 2.0%.
• Analyst ratings for NetEase show mixed opinions, with upgrades to a "strong-buy" from multiple sources, while JPMorgan Chase downgraded the rating from "overweight" to "neutral".

Royal Capital Wealth Management LLC bought a new position in NetEase, Inc. (NASDAQ:NTES - Free Report) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 2,000 shares of the technology company's stock, valued at approximately $206,000.

Several other institutional investors have also recently made changes to their positions in NTES. Mirae Asset Global Investments Co. Ltd. grew its stake in NetEase by 7,698.2% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,817,021 shares of the technology company's stock valued at $289,928,000 after purchasing an additional 2,780,897 shares during the last quarter. Wellington Management Group LLP lifted its holdings in shares of NetEase by 111.7% during the first quarter. Wellington Management Group LLP now owns 1,988,541 shares of the technology company's stock worth $204,661,000 after purchasing an additional 1,049,023 shares during the period. Price T Rowe Associates Inc. MD raised its position in NetEase by 54.4% during the first quarter. Price T Rowe Associates Inc. MD now owns 1,977,835 shares of the technology company's stock valued at $203,560,000 after acquiring an additional 697,192 shares in the last quarter. Man Group plc raised its position in NetEase by 98.0% during the fourth quarter. Man Group plc now owns 708,268 shares of the technology company's stock valued at $63,185,000 after acquiring an additional 350,578 shares in the last quarter. Finally, New York State Common Retirement Fund purchased a new stake in shares of NetEase in the first quarter valued at approximately $28,765,000. Hedge funds and other institutional investors own 11.07% of the company's stock.

NetEase Stock Up 3.0%

Shares of NASDAQ NTES traded up $4.35 on Thursday, hitting $150.10. The company had a trading volume of 695,120 shares, compared to its average volume of 1,186,754. The firm has a market capitalization of $95.10 billion, a P/E ratio of 20.31, a PEG ratio of 1.92 and a beta of 0.67. NetEase, Inc. has a 12-month low of $75.88 and a 12-month high of $150.14. The business has a 50 day moving average of $133.48 and a two-hundred day moving average of $118.85.

NetEase Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 11th. Investors of record on Thursday, August 28th will be given a $0.675 dividend. This represents a $2.70 annualized dividend and a yield of 1.8%. The ex-dividend date is Thursday, August 28th. NetEase's dividend payout ratio (DPR) is currently 30.72%.

Analysts Set New Price Targets

Several analysts recently commented on the company. Arete Research upgraded NetEase to a "strong-buy" rating in a research report on Wednesday, September 3rd. Arete raised NetEase from a "sell" rating to a "buy" rating and set a $150.00 target price for the company in a research note on Wednesday, September 3rd. Zacks Research downgraded NetEase from a "strong-buy" rating to a "hold" rating in a report on Friday, August 15th. JPMorgan Chase & Co. downgraded NetEase from an "overweight" rating to a "neutral" rating and raised their price target for the stock from $135.00 to $140.00 in a research note on Monday, July 28th. Finally, Wall Street Zen raised NetEase from a "buy" rating to a "strong-buy" rating in a report on Saturday, August 30th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and three have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $128.78.

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.