Bessemer Group Inc. Takes $89,000 Position in NetEase, Inc. $NTES

Bessemer Group Inc. bought a new stake in NetEase, Inc. (NASDAQ:NTES) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 662 shares of the technology company’s stock, valued at approximately $89,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Kayne Anderson Rudnick Investment Management LLC purchased a new stake in shares of NetEase in the 1st quarter valued at about $26,000. Private Trust Co. NA lifted its holdings in shares of NetEase by 266.0% in the 2nd quarter. Private Trust Co. NA now owns 194 shares of the technology company’s stock valued at $26,000 after purchasing an additional 141 shares during the last quarter. USA Financial Formulas purchased a new stake in shares of NetEase in the 2nd quarter valued at about $30,000. Reyes Financial Architecture Inc. lifted its holdings 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. Finally, Richardson Financial Services Inc. purchased a new stake in shares of NetEase in the 2nd quarter valued at about $33,000. 11.07% of the stock is owned by hedge funds and other institutional investors.

NetEase Stock Down 1.9%

NTES opened at $138.39 on Wednesday. The business has a 50 day moving average price of $146.80 and a two-hundred day moving average price of $132.82. The company has a market cap of $87.68 billion, a PE ratio of 18.73, a P/E/G ratio of 1.91 and a beta of 0.67. NetEase, Inc. has a 52 week low of $75.88 and a 52 week high of $159.55.

NetEase Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 11th. Shareholders of record on Thursday, August 28th were given a dividend of $0.675 per share. The ex-dividend date was Thursday, August 28th. This represents a $2.70 annualized dividend and a yield of 2.0%. NetEase’s payout ratio is presently 30.72%.

Analysts Set New Price Targets

Several analysts have recently weighed in on NTES shares. The Goldman Sachs Group set a $161.00 target price on NetEase and gave the company a “buy” rating in a report on Monday, September 15th. Weiss Ratings reissued a “hold (c)” rating on shares of NetEase in a report on Wednesday, October 8th. Morgan Stanley reaffirmed an “overweight” rating and set a $170.00 price objective on shares of NetEase in a research note on Wednesday, October 8th. Wall Street Zen raised NetEase from a “buy” rating to a “strong-buy” rating in a research note on Friday, October 3rd. Finally, Arete raised NetEase from a “sell” rating to a “buy” rating and set a $150.00 price objective for the company in a research note on Wednesday, September 3rd. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, NetEase currently has an average rating of “Moderate Buy” and an average target price of $142.30.

NetEase 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.