HB Wealth Management LLC Makes New $238,000 Investment in NetEase, Inc. $NTES

HB Wealth Management LLC acquired a new position in shares of NetEase, Inc. (NASDAQ:NTES) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 1,767 shares of the technology company’s stock, valued at approximately $238,000.

Several other large investors have also modified their holdings of NTES. Kayne Anderson Rudnick Investment Management LLC acquired a new position in shares of NetEase in the 1st quarter valued at $26,000. Mather Group LLC. lifted its stake in shares of NetEase by 1,415.0% in the 1st quarter. Mather Group LLC. now owns 303 shares of the technology company’s stock valued at $31,000 after purchasing an additional 283 shares during the last quarter. Reyes Financial Architecture Inc. lifted its stake in shares of NetEase by 1,189.5% in the 2nd quarter. Reyes Financial Architecture Inc. now owns 245 shares of the technology company’s stock valued at $33,000 after purchasing an additional 226 shares during the last quarter. UMB Bank n.a. acquired a new position in shares of NetEase in the 2nd quarter valued at $39,000. Finally, Pinnacle Bancorp Inc. lifted its stake in shares of NetEase by 758.5% in the 2nd quarter. Pinnacle Bancorp Inc. now owns 455 shares of the technology company’s stock valued at $61,000 after purchasing an additional 402 shares during the last quarter. Institutional investors and hedge funds own 11.07% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently commented on NTES. Arete Research raised NetEase to a “strong-buy” rating in a research note on Wednesday, September 3rd. The Goldman Sachs Group set a $161.00 price objective on NetEase and gave the company a “buy” rating in a report on Monday, September 15th. Barclays set a $120.00 price objective on NetEase and gave the company an “equal weight” rating in a report on Monday, August 18th. Arete upgraded NetEase from a “sell” rating to a “buy” rating and set a $150.00 price objective on the stock in a report on Wednesday, September 3rd. Finally, JPMorgan Chase & Co. downgraded NetEase from an “overweight” rating to a “neutral” rating and boosted their price objective for the company from $135.00 to $140.00 in a report on Monday, July 28th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat, NetEase currently has an average rating of “Moderate Buy” and an average target price of $132.00.

NetEase Stock Performance

NASDAQ:NTES opened at $149.59 on Wednesday. The stock has a 50-day simple moving average of $140.57 and a 200-day simple moving average of $125.69. The stock has a market cap of $94.78 billion, a P/E ratio of 20.24, a P/E/G ratio of 2.02 and a beta of 0.67. NetEase, Inc. has a 1 year low of $75.88 and a 1 year high of $159.55.

NetEase Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 11th. Stockholders of record on Thursday, August 28th were given a dividend of $0.675 per share. This represents a $2.70 annualized dividend and a dividend yield of 1.8%. The ex-dividend date of this dividend was Thursday, August 28th. NetEase’s dividend payout ratio is currently 30.72%.

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.