NetEase, Inc. $NTES Shares Purchased by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. boosted its holdings in shares of NetEase, Inc. (NASDAQ:NTES) by 255.0% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 264,463 shares of the technology company’s stock after purchasing an additional 189,963 shares during the quarter. Envestnet Asset Management Inc.’s holdings in NetEase were worth $35,591,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in NTES. Venturi Wealth Management LLC increased 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 worth $340,000 after buying an additional 86 shares during 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 in the last quarter. Brighton Jones LLC increased its position 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 worth $919,000 after purchasing an additional 117 shares during the last quarter. Concurrent Investment Advisors LLC raised 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 in the last quarter. Finally, Hardy Reed LLC lifted its position in shares of NetEase by 1.7% during the first quarter. Hardy Reed LLC now owns 8,394 shares of the technology company’s stock worth $864,000 after purchasing an additional 139 shares during the last quarter. 11.07% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

NTES has been the subject of several research analyst reports. 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. Wall Street Zen upgraded NetEase from a “buy” rating to a “strong-buy” rating in a report on Friday, October 3rd. Morgan Stanley reissued an “overweight” rating and set a $170.00 price target on shares of NetEase in a research report on Wednesday, October 8th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of NetEase in a report on Wednesday, October 8th. Finally, The Goldman Sachs Group set a $161.00 target price on shares of NetEase and gave the company a “buy” rating in a research note on Monday, September 15th. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $142.30.

NetEase Price Performance

Shares of NASDAQ NTES opened at $140.10 on Friday. NetEase, Inc. has a 1-year low of $75.88 and a 1-year high of $159.55. The business’s fifty day moving average price is $146.66 and its two-hundred day moving average price is $132.00. The firm has a market capitalization of $88.77 billion, a PE ratio of 18.96, a P/E/G ratio of 1.91 and a beta of 0.67.

NetEase Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 11th. Investors of record on Thursday, August 28th were issued a $0.675 dividend. This represents a $2.70 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date of this dividend was Thursday, August 28th. NetEase’s dividend payout ratio (DPR) is 30.72%.

About NetEase

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.