First Horizon Advisors Inc. Increases Stake in NetEase, Inc. $NTES

First Horizon Advisors Inc. raised its holdings in shares of NetEase, Inc. (NASDAQ:NTES) by 1,561.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 515 shares of the technology company’s stock after acquiring an additional 484 shares during the quarter. First Horizon Advisors Inc.’s holdings in NetEase were worth $69,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Bridgewater Advisors Inc. raised its holdings in NetEase by 3.3% in the 2nd quarter. Bridgewater Advisors Inc. now owns 2,527 shares of the technology company’s stock worth $332,000 after purchasing an additional 80 shares during the period. Venturi Wealth Management LLC raised its stake in 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 acquiring an additional 86 shares during the period. Checchi Capital Advisers LLC lifted its holdings in NetEase by 4.6% during the second quarter. Checchi Capital Advisers LLC now owns 2,347 shares of the technology company’s stock valued at $316,000 after purchasing an additional 103 shares in the last quarter. NewSquare Capital LLC boosted its position in shares of NetEase by 137.2% in the second quarter. NewSquare Capital LLC now owns 185 shares of the technology company’s stock worth $25,000 after purchasing an additional 107 shares during the period. Finally, Brighton Jones LLC boosted its position 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 worth $919,000 after purchasing an additional 117 shares during the period. 11.07% of the stock is currently owned by hedge funds and other institutional investors.

NetEase Stock Down 0.2%

NTES opened at $138.99 on Monday. The firm has a 50-day simple moving average of $146.97 and a two-hundred day simple moving average of $133.61. NetEase, Inc. has a 52 week low of $75.88 and a 52 week high of $159.55. The company has a market capitalization of $88.06 billion, a PE ratio of 18.81, a price-to-earnings-growth ratio of 1.91 and a beta of 0.65.

NetEase Dividend Announcement

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

Wall Street Analyst Weigh In

Several brokerages have recently commented on NTES. Wall Street Zen upgraded shares of NetEase from a “buy” rating to a “strong-buy” rating in a research report on Friday, October 3rd. The Goldman Sachs Group set a $161.00 price target on NetEase and gave the stock a “buy” rating in a research note on Monday, September 15th. JPMorgan Chase & Co. raised NetEase from a “neutral” rating to an “overweight” rating and raised their price target for the company from $138.00 to $190.00 in a report on Friday, October 10th. Morgan Stanley restated an “overweight” rating and issued a $170.00 price objective on shares of NetEase in a research report on Wednesday, October 8th. Finally, Arete upgraded NetEase from a “sell” rating to a “buy” rating and set a $150.00 target price for the company in a research report 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 issued a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target 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.