NetEase, Inc. (NASDAQ:NTES) Stock Holdings Lifted by Kovitz Investment Group Partners LLC

Kovitz Investment Group Partners LLC increased its holdings in shares of NetEase, Inc. (NASDAQ:NTES) by 75.6% during the 3rd quarter, Holdings Channel.com reports. The fund owned 14,167 shares of the technology company’s stock after buying an additional 6,099 shares during the period. Kovitz Investment Group Partners LLC’s holdings in NetEase were worth $1,323,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently bought and sold shares of NTES. SYSTM Wealth Solutions LLC raised its position in shares of NetEase by 55.5% during the 2nd quarter. SYSTM Wealth Solutions LLC now owns 328 shares of the technology company’s stock worth $31,000 after purchasing an additional 117 shares during the period. Ariadne Wealth Management LP bought a new stake in NetEase in the second quarter valued at $35,000. Highline Wealth Partners LLC bought a new stake in NetEase in the third quarter valued at $45,000. RPg Family Wealth Advisory LLC acquired a new position in shares of NetEase during the third quarter valued at $70,000. Finally, Allspring Global Investments Holdings LLC bought a new position in shares of NetEase during the third quarter worth about $76,000. Institutional investors own 11.07% of the company’s stock.

NetEase Stock Down 4.4 %

Shares of NetEase stock opened at $96.48 on Wednesday. The business has a fifty day simple moving average of $85.99 and a 200-day simple moving average of $87.70. The firm has a market cap of $61.96 billion, a price-to-earnings ratio of 16.30, a price-to-earnings-growth ratio of 3.37 and a beta of 0.57. NetEase, Inc. has a fifty-two week low of $75.85 and a fifty-two week high of $114.50.

NetEase Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 29th will be issued a $0.435 dividend. The ex-dividend date of this dividend is Friday, November 29th. This represents a $1.74 dividend on an annualized basis and a dividend yield of 1.80%. NetEase’s payout ratio is currently 29.22%.

Wall Street Analyst Weigh In

A number of research firms have issued reports on NTES. Benchmark reduced their target price on shares of NetEase from $120.00 to $105.00 and set a “buy” rating for the company in a research note on Friday, November 15th. StockNews.com downgraded NetEase from a “strong-buy” rating to a “buy” rating in a research report on Friday, December 6th. Jefferies Financial Group lowered their target price on NetEase from $126.00 to $103.00 and set a “buy” rating on the stock in a research report on Thursday, August 22nd. Bank of America reduced their price target on NetEase from $142.00 to $120.00 and set a “buy” rating for the company in a research report on Friday, August 23rd. Finally, Citigroup raised their price target on NetEase from $108.00 to $115.00 and gave the company a “buy” rating in a report on Friday, November 15th. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, NetEase currently has an average rating of “Moderate Buy” and a consensus target price of $107.29.

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.