Sequoia Financial Advisors LLC Grows Position in NetEase, Inc. $NTES

Sequoia Financial Advisors LLC boosted its stake in NetEase, Inc. (NASDAQ:NTES) by 33.5% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 5,168 shares of the technology company’s stock after purchasing an additional 1,298 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in NetEase were worth $696,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of the stock. Venturi Wealth Management LLC grew its holdings in NetEase by 3.5% in the second quarter. Venturi Wealth Management LLC now owns 2,527 shares of the technology company’s stock valued at $340,000 after purchasing an additional 86 shares during the period. Checchi Capital Advisers LLC grew its holdings in NetEase by 4.6% in the second quarter. Checchi Capital Advisers LLC now owns 2,347 shares of the technology company’s stock valued at $316,000 after purchasing an additional 103 shares during the period. Brighton Jones LLC lifted its position in NetEase by 1.1% during the fourth quarter. Brighton Jones LLC now owns 10,297 shares of the technology company’s stock valued at $919,000 after buying an additional 117 shares in the last quarter. Concurrent Investment Advisors LLC lifted its position in NetEase by 5.4% during the first 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 in the last quarter. Finally, Hardy Reed LLC lifted its position in NetEase by 1.7% during the first quarter. Hardy Reed LLC now owns 8,394 shares of the technology company’s stock valued at $864,000 after buying an additional 139 shares in the last quarter. 11.07% of the stock is currently owned by hedge funds and other institutional investors.

NetEase Trading Down 0.3%

NASDAQ NTES opened at $148.21 on Friday. The company’s fifty day simple moving average is $143.62 and its 200-day simple moving average is $128.30. NetEase, Inc. has a 52 week low of $75.88 and a 52 week high of $159.55. The stock has a market cap of $93.90 billion, a P/E ratio of 20.06, a PEG ratio of 1.97 and a beta of 0.67.

NetEase Dividend Announcement

The company also recently announced 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 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date of this dividend was Thursday, August 28th. NetEase’s payout ratio is presently 30.72%.

Wall Street Analyst Weigh In

NTES has been the topic of a number of recent research reports. JPMorgan Chase & Co. raised shares of NetEase from a “neutral” rating to an “overweight” rating and lifted their price target for the company from $138.00 to $190.00 in a research report on Friday, October 10th. Wall Street Zen raised shares of NetEase from a “buy” rating to a “strong-buy” rating in a research report on Friday, October 3rd. Arete raised shares of 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. Barclays set a $120.00 price target on shares of NetEase and gave the company an “equal weight” rating in a research report on Monday, August 18th. Finally, Arete Research raised shares of NetEase to a “strong-buy” rating in a research report on Wednesday, September 3rd. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $142.30.

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.