NetEase, Inc. $NTES Stock Position Lifted by Allianz Asset Management GmbH

Allianz Asset Management GmbH boosted its stake in shares of NetEase, Inc. (NASDAQ:NTES) by 16.8% during the second quarter, HoldingsChannel.com reports. The firm owned 18,848 shares of the technology company’s stock after acquiring an additional 2,711 shares during the period. Allianz Asset Management GmbH’s holdings in NetEase were worth $2,537,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Venturi Wealth Management LLC increased its position in shares of NetEase by 3.5% during the 2nd quarter. Venturi Wealth Management LLC now owns 2,527 shares of the technology company’s stock worth $340,000 after purchasing an additional 86 shares in the last quarter. Checchi Capital Advisers LLC grew its holdings in NetEase by 4.6% during the 2nd quarter. Checchi Capital Advisers LLC now owns 2,347 shares of the technology company’s stock worth $316,000 after acquiring an additional 103 shares during the last quarter. Brighton Jones LLC boosted its stake in shares of NetEase by 1.1% in the 4th quarter. Brighton Jones LLC now owns 10,297 shares of the technology company’s stock valued at $919,000 after purchasing an additional 117 shares during the last quarter. Concurrent Investment Advisors LLC boosted its stake in shares of NetEase by 5.4% in the 1st quarter. Concurrent Investment Advisors LLC now owns 2,569 shares of the technology company’s stock valued at $264,000 after purchasing an additional 132 shares during the last quarter. Finally, Hardy Reed LLC boosted its stake in shares of NetEase by 1.7% in the 1st quarter. Hardy Reed LLC now owns 8,394 shares of the technology company’s stock valued at $864,000 after purchasing an additional 139 shares during the last quarter. 11.07% of the stock is owned by hedge funds and other institutional investors.

NetEase Trading Down 0.3%

NASDAQ:NTES opened at $146.71 on Friday. The stock’s 50-day moving average is $145.41 and its 200-day moving average is $129.87. NetEase, Inc. has a 1-year low of $75.88 and a 1-year high of $159.55. The stock has a market cap of $92.95 billion, a P/E ratio of 19.85, a price-to-earnings-growth ratio of 1.94 and a beta of 0.67.

NetEase Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 11th. Shareholders of record on Thursday, August 28th were issued a dividend of $0.675 per share. 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 is presently 30.72%.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on NTES shares. Arete raised 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. Zacks Research downgraded shares of NetEase from a “strong-buy” rating to a “hold” rating in a report on Friday, August 15th. Arete Research upgraded shares of NetEase to a “strong-buy” rating in a report on Wednesday, September 3rd. Barclays set a $120.00 target price on shares of NetEase and gave the company an “equal weight” rating in a research note on Monday, August 18th. Finally, JPMorgan Chase & Co. raised shares of NetEase from a “neutral” rating to an “overweight” rating and lifted their price objective for the stock from $138.00 to $190.00 in a research report on Friday, October 10th. One 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. Based on data from MarketBeat.com, NetEase presently has a consensus rating of “Moderate Buy” and an average target price of $142.30.

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.