Hanson & Doremus Investment Management Buys New Position in NetEase, Inc. $NTES

Hanson & Doremus Investment Management bought a new position in shares of NetEase, Inc. (NASDAQ:NTES) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 2,000 shares of the technology company’s stock, valued at approximately $269,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Reyes Financial Architecture Inc. boosted 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 purchasing an additional 226 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC acquired a new stake in NetEase during the first quarter valued at approximately $26,000. UMB Bank n.a. bought a new stake in NetEase during the second quarter worth approximately $39,000. Mather Group LLC. boosted its holdings in NetEase by 1,415.0% during the first quarter. Mather Group LLC. now owns 303 shares of the technology company’s stock worth $31,000 after buying an additional 283 shares in the last quarter. Finally, Pinnacle Bancorp Inc. grew its position in NetEase by 758.5% in the second quarter. Pinnacle Bancorp Inc. now owns 455 shares of the technology company’s stock worth $61,000 after buying an additional 402 shares during the last quarter. 11.07% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on NTES. Wall Street Zen lowered NetEase from a “strong-buy” rating to a “buy” rating in a research report on Saturday, September 20th. JPMorgan Chase & Co. cut NetEase from an “overweight” rating to a “neutral” rating and lifted their price target for the stock from $135.00 to $140.00 in a research note on Monday, July 28th. Barclays set a $120.00 price objective on shares of NetEase and gave the company an “equal weight” rating in a research note on Monday, August 18th. Arete Research raised shares of NetEase to a “strong-buy” rating in a research report on Wednesday, September 3rd. Finally, Arete upgraded shares of NetEase from a “sell” rating to a “buy” rating and set a $150.00 price target on the stock in a report on Wednesday, September 3rd. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, NetEase currently has an average rating of “Moderate Buy” and a consensus target price of $132.00.

NetEase Price Performance

NASDAQ:NTES opened at $147.62 on Monday. The stock has a market cap of $93.53 billion, a PE ratio of 19.98, a price-to-earnings-growth ratio of 1.97 and a beta of 0.67. NetEase, Inc. has a fifty-two week low of $75.88 and a fifty-two week high of $159.55. The stock’s 50-day moving average is $138.44 and its two-hundred day moving average is $123.39.

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%.

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.