USA Financial Formulas Makes New Investment in NetEase, Inc. $NTES

USA Financial Formulas purchased a new position in shares of NetEase, Inc. (NASDAQ:NTES) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 226 shares of the technology company’s stock, valued at approximately $30,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in NTES. Kayne Anderson Rudnick Investment Management LLC acquired a new stake in NetEase during the 1st quarter worth about $26,000. Mather Group LLC. lifted its position in NetEase by 1,415.0% during the 1st quarter. Mather Group LLC. now owns 303 shares of the technology company’s stock worth $31,000 after acquiring an additional 283 shares during the period. Reyes Financial Architecture Inc. lifted its position in NetEase by 1,189.5% during the 2nd quarter. Reyes Financial Architecture Inc. now owns 245 shares of the technology company’s stock worth $33,000 after acquiring an additional 226 shares during the period. UMB Bank n.a. acquired a new stake in NetEase during the 2nd quarter worth about $39,000. Finally, Union Bancaire Privee UBP SA acquired a new position in shares of NetEase in the 2nd quarter valued at about $42,000. Institutional investors and hedge funds own 11.07% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently issued reports on NTES. Arete raised NetEase from a “sell” rating to a “buy” rating and set a $150.00 price objective for the company in a report on Wednesday, September 3rd. Barclays set a $120.00 price objective on NetEase and gave the company an “equal weight” rating in a report on Monday, August 18th. Zacks Research cut NetEase from a “strong-buy” rating to a “hold” rating in a report on Friday, August 15th. Wall Street Zen cut NetEase from a “strong-buy” rating to a “buy” rating in a report on Saturday, September 20th. Finally, JPMorgan Chase & Co. cut NetEase from an “overweight” rating to a “neutral” rating and boosted their price objective for the company from $135.00 to $140.00 in a report on Monday, July 28th. One investment 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 stock. According to data from MarketBeat, NetEase has a consensus rating of “Moderate Buy” and a consensus target price of $132.00.

NetEase Stock Up 2.1%

Shares of NetEase stock opened at $153.23 on Friday. NetEase, Inc. has a twelve month low of $75.88 and a twelve month high of $159.55. The business has a 50-day moving average price of $139.50 and a 200 day moving average price of $124.46. The firm has a market cap of $97.09 billion, a PE ratio of 20.73, a P/E/G ratio of 2.00 and a beta of 0.67.

NetEase Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 11th. Investors of record on Thursday, August 28th were paid a $0.675 dividend. This represents a $2.70 annualized dividend and a dividend yield of 1.8%. The ex-dividend date was Thursday, August 28th. NetEase’s payout ratio is currently 30.72%.

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.