Concurrent Investment Advisors LLC Grows Holdings in NetEase, Inc. (NASDAQ:NTES)

Concurrent Investment Advisors LLC boosted its holdings in NetEase, Inc. (NASDAQ:NTES) by 5.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,569 shares of the technology company’s stock after purchasing an additional 132 shares during the quarter. Concurrent Investment Advisors LLC’s holdings in NetEase were worth $264,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Brighton Jones LLC raised its position in NetEase by 1.1% during the 4th quarter. Brighton Jones LLC now owns 10,297 shares of the technology company’s stock worth $919,000 after buying an additional 117 shares during the last quarter. Fifth Third Bancorp raised its position in NetEase by 2.7% during the 1st quarter. Fifth Third Bancorp now owns 5,264 shares of the technology company’s stock worth $542,000 after buying an additional 138 shares during the last quarter. Farther Finance Advisors LLC raised its position in NetEase by 81.7% during the 4th quarter. Farther Finance Advisors LLC now owns 338 shares of the technology company’s stock worth $30,000 after buying an additional 152 shares during the last quarter. Bank of New York Mellon Corp raised its position in NetEase by 1.6% during the 1st quarter. Bank of New York Mellon Corp now owns 9,884 shares of the technology company’s stock worth $1,017,000 after buying an additional 153 shares during the last quarter. Finally, Focus Financial Network Inc. raised its position in NetEase by 5.6% during the 1st quarter. Focus Financial Network Inc. now owns 3,763 shares of the technology company’s stock worth $387,000 after buying an additional 200 shares during the last quarter. Hedge funds and other institutional investors own 11.07% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. Deutsche Bank Aktiengesellschaft assumed coverage on shares of NetEase in a research report on Monday, May 12th. They set a “buy” rating and a $130.00 price objective for the company. Wall Street Zen upgraded shares of NetEase from a “buy” rating to a “strong-buy” rating in a research report on Thursday, May 22nd. JPMorgan Chase & Co. increased their price target on shares of NetEase from $120.00 to $135.00 and gave the company an “overweight” rating in a report on Monday, May 19th. Finally, Barclays increased their price target on shares of NetEase from $104.00 to $118.00 and gave the company an “equal weight” rating in a report on Friday, May 16th. One investment analyst has rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $119.38.

NetEase Stock Up 0.5%

Shares of NTES opened at $128.28 on Friday. The company has a 50-day simple moving average of $124.63 and a 200-day simple moving average of $108.53. The company has a market capitalization of $81.28 billion, a PE ratio of 18.46, a P/E/G ratio of 4.47 and a beta of 0.69. NetEase, Inc. has a 52-week low of $75.85 and a 52-week high of $135.32.

NetEase Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 13th. Investors of record on Friday, May 30th were paid a $0.675 dividend. The ex-dividend date of this dividend was Friday, May 30th. This represents a $2.70 dividend on an annualized basis and a yield of 2.10%. NetEase’s payout ratio is 38.71%.

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.