Cerity Partners LLC Boosts Stake in NetEase, Inc. (NASDAQ:NTES)

Cerity Partners LLC lifted its position in shares of NetEase, Inc. (NASDAQ:NTES) by 262.1% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 21,136 shares of the technology company’s stock after acquiring an additional 15,299 shares during the quarter. Cerity Partners LLC’s holdings in NetEase were worth $2,175,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Sumitomo Mitsui Trust Group Inc. raised its holdings in NetEase by 20.8% in the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 8,685 shares of the technology company’s stock valued at $894,000 after acquiring an additional 1,495 shares during the last quarter. Sequoia Financial Advisors LLC purchased a new stake in shares of NetEase in the 1st quarter valued at approximately $398,000. Concurrent Investment Advisors LLC grew its stake in shares of NetEase by 5.4% in the 1st quarter. Concurrent Investment Advisors LLC now owns 2,569 shares of the technology company’s stock valued at $264,000 after buying an additional 132 shares during the period. GAMMA Investing LLC grew its stake in shares of NetEase by 10,192.0% in the 1st quarter. GAMMA Investing LLC now owns 2,573 shares of the technology company’s stock valued at $265,000 after buying an additional 2,548 shares during the period. Finally, Pine Haven Investment Counsel Inc purchased a new stake in shares of NetEase in the 1st quarter valued at approximately $206,000. 11.07% of the stock is owned by hedge funds and other institutional investors.

NetEase Trading Up 2.2%

NetEase stock opened at $136.12 on Friday. The stock has a market cap of $86.24 billion, a price-to-earnings ratio of 19.59, a PEG ratio of 4.74 and a beta of 0.69. The company’s 50-day moving average price is $127.23 and its two-hundred day moving average price is $110.01. NetEase, Inc. has a 52 week low of $75.85 and a 52 week high of $136.88.

NetEase Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 13th. Investors of record on Friday, May 30th were issued a dividend of $0.675 per share. The ex-dividend date was Friday, May 30th. This represents a $2.70 dividend on an annualized basis and a dividend yield of 1.98%. NetEase’s payout ratio is 38.71%.

Analyst Ratings Changes

NTES has been the subject of several recent research reports. Barclays raised their price target on shares of NetEase from $104.00 to $118.00 and gave the company an “equal weight” rating in a research report on Friday, May 16th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of NetEase in a report on Monday, May 12th. They issued a “buy” rating and a $130.00 price objective on the stock. Wall Street Zen upgraded shares of NetEase from a “buy” rating to a “strong-buy” rating in a report on Thursday, May 22nd. Finally, JPMorgan Chase & Co. raised their price objective on shares of NetEase from $120.00 to $135.00 and gave the company an “overweight” rating in a report on Monday, May 19th. One research analyst has rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $119.38.

NetEase Company Profile

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.