First Horizon Advisors Inc. Boosts Position in NetEase, Inc. $NTES

First Horizon Advisors Inc. lifted its holdings in shares of NetEase, Inc. (NASDAQ:NTES) by 1,561.3% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 515 shares of the technology company’s stock after acquiring an additional 484 shares during the quarter. First Horizon Advisors Inc.’s holdings in NetEase were worth $69,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. NewSquare Capital LLC increased its position in NetEase by 137.2% during the 2nd quarter. NewSquare Capital LLC now owns 185 shares of the technology company’s stock valued at $25,000 after purchasing an additional 107 shares during the period. Kayne Anderson Rudnick Investment Management LLC bought a new position in shares of NetEase in the 1st quarter worth approximately $26,000. Private Trust Co. NA lifted its stake 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 period. USA Financial Formulas bought a new stake in shares of NetEase during the second quarter valued at approximately $30,000. Finally, Reyes Financial Architecture Inc. grew its stake in NetEase by 1,189.5% in the second quarter. Reyes Financial Architecture Inc. now owns 245 shares of the technology company’s stock worth $33,000 after purchasing an additional 226 shares during the period. Hedge funds and other institutional investors own 11.07% of the company’s stock.

Analyst Upgrades and Downgrades

NTES has been the topic of a number of research reports. Barclays set a $120.00 target price on shares of NetEase and gave the company an “equal weight” rating in a report on Monday, August 18th. Arete Research upgraded shares of NetEase to a “strong-buy” rating in a report on Wednesday, September 3rd. Zacks Research lowered shares of NetEase from a “strong-buy” rating to a “hold” rating in a report on Friday, August 15th. JPMorgan Chase & Co. upgraded NetEase from a “neutral” rating to an “overweight” rating and upped their price target for the stock from $138.00 to $190.00 in a research note on Friday, October 10th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of NetEase in a research report on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $142.30.

NetEase Stock Down 0.2%

Shares of NetEase stock opened at $138.99 on Monday. NetEase, Inc. has a twelve month low of $75.88 and a twelve month high of $159.55. The company’s 50 day moving average is $146.97 and its 200 day moving average is $133.61. The company has a market cap of $88.06 billion, a price-to-earnings ratio of 18.81, a price-to-earnings-growth ratio of 1.91 and a beta of 0.65.

NetEase Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, September 11th. Stockholders of record on Thursday, August 28th were paid a $0.675 dividend. This represents a $2.70 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date was Thursday, August 28th. NetEase’s dividend payout ratio (DPR) is 30.72%.

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.