DRW Securities LLC bought a new position in NetEase, Inc. (NASDAQ:NTES - Free Report) in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor bought 10,814 shares of the technology company's stock, valued at approximately $1,011,000.
Other institutional investors have also bought and sold shares of the company. Fisher Asset Management LLC raised its position in shares of NetEase by 7.8% during the third quarter. Fisher Asset Management LLC now owns 1,145,657 shares of the technology company's stock valued at $107,130,000 after buying an additional 82,474 shares during the last quarter. Cerity Partners LLC grew its stake in NetEase by 21.4% during the third quarter. Cerity Partners LLC now owns 5,519 shares of the technology company's stock valued at $516,000 after acquiring an additional 972 shares in the last quarter. Citigroup Inc. increased its holdings in NetEase by 6.9% in the 3rd quarter. Citigroup Inc. now owns 50,349 shares of the technology company's stock valued at $4,708,000 after acquiring an additional 3,240 shares during the last quarter. Aurora Investment Counsel lifted its stake in NetEase by 3.6% in the 3rd quarter. Aurora Investment Counsel now owns 26,305 shares of the technology company's stock worth $2,460,000 after purchasing an additional 912 shares in the last quarter. Finally, Advisors Asset Management Inc. boosted its holdings in shares of NetEase by 19.2% during the 3rd quarter. Advisors Asset Management Inc. now owns 16,989 shares of the technology company's stock valued at $1,589,000 after purchasing an additional 2,742 shares during the last quarter. Hedge funds and other institutional investors own 11.07% of the company's stock.
NetEase Stock Up 0.9 %
NTES traded up $0.81 during trading hours on Tuesday, reaching $86.21. 1,034,513 shares of the company's stock traded hands, compared to its average volume of 1,743,214. The firm has a 50-day moving average price of $85.10 and a 200 day moving average price of $88.34. NetEase, Inc. has a 52-week low of $75.85 and a 52-week high of $115.10. The firm has a market capitalization of $55.36 billion, a PE ratio of 14.56, a PEG ratio of 3.27 and a beta of 0.57.
NetEase Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 29th will be issued a $0.435 dividend. This represents a $1.74 dividend on an annualized basis and a dividend yield of 2.02%. The ex-dividend date is Friday, November 29th. NetEase's payout ratio is presently 29.22%.
Wall Street Analysts Forecast Growth
A number of analysts have issued reports on the company. Citigroup lifted their price objective on NetEase from $108.00 to $115.00 and gave the stock a "buy" rating in a research note on Friday, November 15th. Bank of America dropped their price objective on shares of NetEase from $142.00 to $120.00 and set a "buy" rating for the company in a research note on Friday, August 23rd. Barclays dropped their price target on NetEase from $104.00 to $82.00 and set an "equal weight" rating for the company in a research report on Monday, August 26th. Benchmark decreased their price objective on NetEase from $120.00 to $105.00 and set a "buy" rating on the stock in a research report on Friday, November 15th. Finally, Jefferies Financial Group cut their target price on NetEase from $126.00 to $103.00 and set a "buy" rating on the stock in a research report on Thursday, August 22nd. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $107.29.
Check Out Our Latest Analysis on NetEase
About NetEase
(
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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