NetEase, Inc. $NTES Shares Acquired by Ritholtz Wealth Management

Ritholtz Wealth Management boosted its holdings in shares of NetEase, Inc. (NASDAQ:NTES) by 35.8% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 4,701 shares of the technology company’s stock after purchasing an additional 1,239 shares during the period. Ritholtz Wealth Management’s holdings in NetEase were worth $633,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the business. Bayforest Capital Ltd lifted its stake in NetEase by 12.5% during the second quarter. Bayforest Capital Ltd now owns 6,061 shares of the technology company’s stock valued at $816,000 after purchasing an additional 674 shares during the last quarter. Sequoia Financial Advisors LLC lifted its stake in NetEase by 33.5% during the second quarter. Sequoia Financial Advisors LLC now owns 5,168 shares of the technology company’s stock valued at $696,000 after purchasing an additional 1,298 shares during the last quarter. Allspring Global Investments Holdings LLC acquired a new stake in NetEase during the second quarter valued at approximately $225,000. Vanguard Personalized Indexing Management LLC raised its holdings in shares of NetEase by 48.4% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 7,666 shares of the technology company’s stock valued at $1,033,000 after acquiring an additional 2,499 shares during the period. Finally, Richardson Financial Services Inc. acquired a new stake in shares of NetEase during the second quarter valued at approximately $33,000. 11.07% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on NTES shares. Zacks Research lowered shares of NetEase from a “strong-buy” rating to a “hold” rating in a report on Friday, August 15th. Arete Research upgraded shares of NetEase to a “strong-buy” rating in a report on Wednesday, September 3rd. JPMorgan Chase & Co. upgraded shares of NetEase from a “neutral” rating to an “overweight” rating and boosted their price target for the company from $138.00 to $190.00 in a report on Friday, October 10th. Wall Street Zen upgraded shares of NetEase from a “buy” rating to a “strong-buy” rating in a report on Friday, October 3rd. Finally, Morgan Stanley restated an “overweight” rating and set a $170.00 price target on shares of NetEase in a report on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $142.30.

NetEase Stock Performance

NetEase stock opened at $148.21 on Monday. The firm has a market cap of $93.90 billion, a PE ratio of 20.06, a P/E/G ratio of 1.96 and a beta of 0.67. The firm’s 50 day moving average price is $143.62 and its two-hundred day moving average price is $128.46. NetEase, Inc. has a twelve month low of $75.88 and a twelve month high of $159.55.

NetEase Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 11th. Shareholders of record on Thursday, August 28th were paid a $0.675 dividend. This represents a $2.70 annualized dividend and a yield of 1.8%. The ex-dividend date was Thursday, August 28th. NetEase’s dividend payout ratio 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.