Richardson Financial Services Inc. Acquires Shares of 246 NetEase, Inc. $NTES

Richardson Financial Services Inc. purchased a new stake in NetEase, Inc. (NASDAQ:NTES) during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 246 shares of the technology company’s stock, valued at approximately $33,000.

Several other institutional investors and hedge funds have also modified their holdings of the business. Venturi Wealth Management LLC grew its stake in shares of 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 acquiring an additional 86 shares in the last quarter. Checchi Capital Advisers LLC grew its stake in shares of 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 acquiring an additional 103 shares in the last quarter. Brighton Jones LLC grew its stake in shares of NetEase by 1.1% in the fourth quarter. Brighton Jones LLC now owns 10,297 shares of the technology company’s stock valued at $919,000 after acquiring an additional 117 shares in the last quarter. Concurrent Investment Advisors LLC grew its stake in shares of NetEase by 5.4% in the first quarter. Concurrent Investment Advisors LLC now owns 2,569 shares of the technology company’s stock valued at $264,000 after acquiring an additional 132 shares in the last quarter. Finally, Fifth Third Bancorp grew its stake in shares of NetEase by 2.7% in the first quarter. Fifth Third Bancorp now owns 5,264 shares of the technology company’s stock valued at $542,000 after acquiring an additional 138 shares in the last quarter. 11.07% of the stock is currently owned by institutional investors and hedge funds.

NetEase Stock Down 3.1%

Shares of NetEase stock opened at $146.91 on Friday. The company has a market capitalization of $93.08 billion, a price-to-earnings ratio of 19.88, a PEG ratio of 1.96 and a beta of 0.67. NetEase, Inc. has a 12-month low of $75.88 and a 12-month high of $159.55. The firm’s 50-day moving average price is $141.86 and its two-hundred day moving average price is $126.75.

NetEase Dividend Announcement

The business 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 1.8%. The ex-dividend date was Thursday, August 28th. NetEase’s dividend payout ratio (DPR) is presently 30.72%.

Analyst Upgrades and Downgrades

Several research firms recently commented on NTES. Wall Street Zen upgraded shares of NetEase from a “buy” rating to a “strong-buy” rating in a research note on Friday, October 3rd. Morgan Stanley restated an “overweight” rating and issued a $170.00 price target on shares of NetEase in a research note on Wednesday. Barclays set a $120.00 price objective on shares of NetEase and gave the stock an “equal weight” rating in a research note on Monday, August 18th. The Goldman Sachs Group set a $161.00 price objective on shares of NetEase and gave the stock a “buy” rating in a research note on Monday, September 15th. Finally, Arete upgraded shares of NetEase from a “sell” rating to a “buy” rating and set a $150.00 price objective on the stock in a research note on Wednesday, September 3rd. One research 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.com, NetEase presently has a consensus rating of “Moderate Buy” and an average target price of $142.30.

NetEase Company 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.