Fisher Asset Management LLC increased its holdings in shares of NetEase, Inc. (NASDAQ:NTES - Free Report) by 7.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,145,657 shares of the technology company's stock after purchasing an additional 82,474 shares during the quarter. Fisher Asset Management LLC owned approximately 0.18% of NetEase worth $107,130,000 at the end of the most recent quarter.
Several other institutional investors have also recently added to or reduced their stakes in the business. Sequoia Financial Advisors LLC lifted its stake in NetEase by 4.3% in the second quarter. Sequoia Financial Advisors LLC now owns 2,575 shares of the technology company's stock valued at $246,000 after buying an additional 107 shares during the last quarter. Guinness Atkinson Asset Management Inc increased its holdings in shares of NetEase by 0.7% in the second quarter. Guinness Atkinson Asset Management Inc now owns 15,422 shares of the technology company's stock valued at $1,474,000 after purchasing an additional 110 shares during the period. SYSTM Wealth Solutions LLC increased its holdings in shares of NetEase by 55.5% in the second quarter. SYSTM Wealth Solutions LLC now owns 328 shares of the technology company's stock valued at $31,000 after purchasing an additional 117 shares during the period. Fifth Third Bancorp increased its holdings in shares of NetEase by 1.9% in the second quarter. Fifth Third Bancorp now owns 7,658 shares of the technology company's stock valued at $732,000 after purchasing an additional 146 shares during the period. Finally, Financial Advocates Investment Management increased its holdings in shares of NetEase by 5.4% in the third quarter. Financial Advocates Investment Management now owns 4,647 shares of the technology company's stock valued at $435,000 after purchasing an additional 237 shares during the period. Hedge funds and other institutional investors own 11.07% of the company's stock.
NetEase Stock Performance
Shares of NTES stock traded up $0.81 during trading hours on Tuesday, reaching $86.21. The company had a trading volume of 1,034,513 shares, compared to its average volume of 1,743,214. NetEase, Inc. has a twelve month low of $75.85 and a twelve month high of $115.10. The company has a market capitalization of $55.36 billion, a P/E ratio of 14.43, a price-to-earnings-growth ratio of 3.27 and a beta of 0.57. The stock's fifty day simple moving average is $84.92 and its 200 day simple moving average is $88.43.
NetEase Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 29th will be paid a dividend of $0.435 per share. The ex-dividend date of this dividend is Friday, November 29th. This represents a $1.74 dividend on an annualized basis and a yield of 2.02%. NetEase's dividend payout ratio (DPR) is presently 29.22%.
Analyst Ratings Changes
A number of brokerages recently weighed in on NTES. Jefferies Financial Group dropped their price objective on NetEase from $126.00 to $103.00 and set a "buy" rating on the stock in a report on Thursday, August 22nd. Bank of America decreased their target price on NetEase from $142.00 to $120.00 and set a "buy" rating on the stock in a research report on Friday, August 23rd. Citigroup boosted their target price on NetEase from $108.00 to $115.00 and gave the stock a "buy" rating in a research report on Friday, November 15th. Benchmark decreased their target price 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, Barclays decreased their target price on NetEase from $104.00 to $82.00 and set an "equal weight" rating on the stock in a research report on Monday, August 26th. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $107.29.
View Our Latest Analysis on NTES
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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