Kovitz Investment Group Partners LLC Raises Stock Position in NetEase, Inc. (NASDAQ:NTES)

Kovitz Investment Group Partners LLC boosted its stake in NetEase, Inc. (NASDAQ:NTES - Free Report) by 75.6% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 14,167 shares of the technology company's stock after buying an additional 6,099 shares during the period. Kovitz Investment Group Partners LLC's holdings in NetEase were worth $1,323,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in NTES. Sequoia Financial Advisors LLC lifted its holdings in shares of NetEase by 4.3% during the second quarter. Sequoia Financial Advisors LLC now owns 2,575 shares of the technology company's stock worth $246,000 after buying an additional 107 shares during the last quarter. SYSTM Wealth Solutions LLC grew its holdings in shares of NetEase by 55.5% during the second quarter. SYSTM Wealth Solutions LLC now owns 328 shares of the technology company's stock worth $31,000 after purchasing an additional 117 shares during the last quarter. Fifth Third Bancorp grew its holdings in shares of NetEase by 1.9% during the second quarter. Fifth Third Bancorp now owns 7,658 shares of the technology company's stock worth $732,000 after purchasing an additional 146 shares during the last quarter. State Street Corp lifted its stake in shares of NetEase by 0.3% during the third quarter. State Street Corp now owns 56,729 shares of the technology company's stock valued at $5,305,000 after acquiring an additional 156 shares during the period. Finally, Financial Advocates Investment Management lifted its stake in shares of NetEase by 5.4% during the third quarter. Financial Advocates Investment Management now owns 4,647 shares of the technology company's stock valued at $435,000 after acquiring an additional 237 shares during the period. 11.07% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have recently commented on NTES. StockNews.com lowered NetEase from a "strong-buy" rating to a "buy" rating in a research report on Friday, December 6th. Barclays dropped their price objective on NetEase from $104.00 to $82.00 and set an "equal weight" rating for the company in a report on Monday, August 26th. Bank of America decreased their price target on NetEase from $142.00 to $120.00 and set a "buy" rating on the stock in a research note on Friday, August 23rd. Jefferies Financial Group reduced their price objective on NetEase from $126.00 to $103.00 and set a "buy" rating on the stock in a research report on Thursday, August 22nd. Finally, Citigroup upped their price target on NetEase from $108.00 to $115.00 and gave the company a "buy" rating in a research report on Friday, November 15th. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, NetEase currently has a consensus rating of "Moderate Buy" and an average price target of $107.29.

NetEase Price Performance

NASDAQ NTES traded up $0.42 during trading hours on Wednesday, reaching $96.90. 934,945 shares of the stock traded hands, compared to its average volume of 1,732,182. The stock has a 50 day simple moving average of $85.99 and a two-hundred day simple moving average of $87.74. NetEase, Inc. has a 1 year low of $75.85 and a 1 year high of $114.50. The company has a market cap of $62.23 billion, a price-to-earnings ratio of 16.15, a price-to-earnings-growth ratio of 3.37 and a beta of 0.57.

NetEase Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 29th will be issued a dividend of $0.435 per share. The ex-dividend date of this dividend is Friday, November 29th. This represents a $1.74 annualized dividend and a dividend yield of 1.80%. NetEase's payout ratio is 29.22%.

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.