Ridgewood Investments LLC Buys 558 Shares of NetEase, Inc. (NASDAQ:NTES)

Ridgewood Investments LLC increased its stake in shares of NetEase, Inc. (NASDAQ:NTES) by 4.2% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 13,733 shares of the technology company’s stock after purchasing an additional 558 shares during the period. Ridgewood Investments LLC’s holdings in NetEase were worth $1,362,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Sumitomo Mitsui Trust Group Inc. increased its position in shares of NetEase by 20.8% during the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 8,685 shares of the technology company’s stock valued at $894,000 after buying an additional 1,495 shares during the period. Sequoia Financial Advisors LLC bought a new position in shares of NetEase in the first quarter valued at approximately $398,000. Concurrent Investment Advisors LLC grew its stake in NetEase by 5.4% during the first quarter. Concurrent Investment Advisors LLC now owns 2,569 shares of the technology company’s stock valued at $264,000 after acquiring an additional 132 shares in the last quarter. GAMMA Investing LLC increased its holdings in NetEase by 10,192.0% during the 1st quarter. GAMMA Investing LLC now owns 2,573 shares of the technology company’s stock worth $265,000 after acquiring an additional 2,548 shares during the period. Finally, Pine Haven Investment Counsel Inc purchased a new stake in NetEase in the 1st quarter worth approximately $206,000. Institutional investors own 11.07% of the company’s stock.

Wall Street Analyst Weigh In

NTES has been the subject of a number of recent analyst reports. Barclays boosted their price target on shares of NetEase from $104.00 to $118.00 and gave the company an “equal weight” rating in a research report on Friday, May 16th. Wall Street Zen upgraded NetEase from a “buy” rating to a “strong-buy” rating in a research report on Thursday, May 22nd. Deutsche Bank Aktiengesellschaft initiated coverage on NetEase in a research note on Monday, May 12th. They issued a “buy” rating and a $130.00 target price on the stock. Finally, JPMorgan Chase & Co. raised their price target on NetEase from $120.00 to $135.00 and gave the company an “overweight” rating in a report on Monday, May 19th. One equities research analyst has rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $119.38.

NetEase Stock Down 0.6%

NTES opened at $135.48 on Friday. The business’s fifty day simple moving average is $129.76 and its 200 day simple moving average is $111.70. NetEase, Inc. has a 52 week low of $75.85 and a 52 week high of $141.45. The stock has a market cap of $85.84 billion, a PE ratio of 19.49, a P/E/G ratio of 4.70 and a beta of 0.69.

NetEase Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 13th. Stockholders of record on Friday, May 30th were given a dividend of $0.675 per share. The ex-dividend date of this dividend was Friday, May 30th. This represents a $2.70 annualized dividend and a dividend yield of 1.99%. NetEase’s dividend payout ratio (DPR) is presently 38.71%.

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.