Advisory Resource Group Raises Stake in NetEase, Inc. (NASDAQ:NTES)

by · The Markets Daily

Advisory Resource Group raised its stake in NetEase, Inc. (NASDAQ:NTES – Free Report) by 22.0% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 12,626 shares of the technology company’s stock after buying an additional 2,281 shares during the period. Advisory Resource Group’s holdings in NetEase were worth $1,181,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. SYSTM Wealth Solutions LLC grew its holdings in NetEase by 55.5% in the second quarter. SYSTM Wealth Solutions LLC now owns 328 shares of the technology company’s stock valued at $31,000 after purchasing an additional 117 shares during the last quarter. Ariadne Wealth Management LP acquired a new stake in NetEase in the 2nd quarter valued at about $35,000. Highline Wealth Partners LLC purchased a new position in NetEase during the 3rd quarter valued at about $45,000. RPg Family Wealth Advisory LLC purchased a new stake in shares of NetEase in the third quarter valued at about $70,000. Finally, Allspring Global Investments Holdings LLC acquired a new stake in shares of NetEase in the third quarter valued at approximately $76,000. 11.07% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

NTES has been the subject of several research reports. StockNews.com downgraded NetEase from a “strong-buy” rating to a “buy” rating in a research report on Friday, December 6th. Bank of America cut their price target on NetEase from $142.00 to $120.00 and set a “buy” rating for the company in a report on Friday, August 23rd. Citigroup boosted their target price on shares of NetEase from $108.00 to $115.00 and gave the company a “buy” rating in a research note on Friday, November 15th. Jefferies Financial Group lowered their price target on shares of NetEase from $126.00 to $103.00 and set a “buy” rating for the company in a report on Thursday, August 22nd. Finally, Benchmark decreased their target price on shares of NetEase from $120.00 to $105.00 and set a “buy” rating on the stock in a research report on Friday, November 15th. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $107.29.

Check Out Our Latest Stock Analysis on NTES

NetEase Stock Up 0.4 %

Shares of NTES opened at $96.90 on Thursday. The firm has a market cap of $62.23 billion, a PE ratio of 16.37, a price-to-earnings-growth ratio of 3.37 and a beta of 0.57. The company’s fifty day moving average is $85.99 and its two-hundred day moving average is $87.74. NetEase, Inc. has a fifty-two week low of $75.85 and a fifty-two week high of $114.50.

NetEase Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 29th will be paid a dividend of $0.435 per share. The ex-dividend date of this dividend is Friday, November 29th. This represents a $1.74 annualized dividend and a yield of 1.80%. NetEase’s dividend payout ratio is presently 29.22%.

NetEase Company Profile

(Free Report)

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.

See Also

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