Allspring Global Investments Holdings LLC Takes Position in NetEase, Inc. $NTES

Allspring Global Investments Holdings LLC bought a new stake in shares of NetEase, Inc. (NASDAQ:NTES) in the 2nd quarter, according to its most recent filing with the SEC. The institutional investor bought 1,672 shares of the technology company’s stock, valued at approximately $225,000.

Several other institutional investors and hedge funds also recently made changes to their positions in NTES. Kayne Anderson Rudnick Investment Management LLC purchased a new position in shares of NetEase during the 1st quarter valued at approximately $26,000. USA Financial Formulas purchased a new position in shares of NetEase during the 2nd quarter valued at approximately $30,000. Mather Group LLC. boosted its stake in shares of NetEase by 1,415.0% during the 1st quarter. Mather Group LLC. now owns 303 shares of the technology company’s stock valued at $31,000 after buying an additional 283 shares during the last quarter. Reyes Financial Architecture Inc. raised its position in shares of NetEase by 1,189.5% during the 2nd quarter. Reyes Financial Architecture Inc. now owns 245 shares of the technology company’s stock valued at $33,000 after acquiring an additional 226 shares in the last quarter. Finally, Richardson Financial Services Inc. acquired a new stake in shares of NetEase during the 2nd quarter valued at approximately $33,000. 11.07% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

NTES has been the topic of several research reports. Barclays set a $120.00 price target on NetEase and gave the company an “equal weight” rating in a research report on Monday, August 18th. Arete raised NetEase from a “sell” rating to a “buy” rating and set a $150.00 price target on the stock in a research report on Wednesday, September 3rd. Zacks Research lowered NetEase from a “strong-buy” rating to a “hold” rating in a research report on Friday, August 15th. Morgan Stanley reissued an “overweight” rating and set a $170.00 price target on shares of NetEase in a research report on Wednesday, October 8th. Finally, JPMorgan Chase & Co. raised NetEase from a “neutral” rating to an “overweight” rating and upped their price target for the company from $138.00 to $190.00 in a research report on Friday, October 10th. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $142.30.

NetEase Stock Down 0.3%

Shares of NTES stock opened at $146.71 on Friday. The stock has a 50-day simple moving average of $145.41 and a 200 day simple moving average of $130.13. NetEase, Inc. has a fifty-two week low of $75.88 and a fifty-two week high of $159.55. The stock has a market capitalization of $92.95 billion, a P/E ratio of 19.85, a P/E/G ratio of 1.94 and a beta of 0.67.

NetEase Announces Dividend

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

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.