Heron Bay Capital Management Purchases New Holdings in NetEase, Inc. $NTES

Heron Bay Capital Management acquired a new position in NetEase, Inc. (NASDAQ:NTES) in the third quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 5,332 shares of the technology company’s stock, valued at approximately $810,000.

Other large investors also recently added to or reduced their stakes in the company. 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 buying an additional 107 shares during the period. Cornerstone Planning Group LLC purchased a new stake in NetEase in the 3rd quarter worth about $33,000. Spire Wealth Management grew its stake in NetEase by 159.6% during the 2nd quarter. Spire Wealth Management now owns 257 shares of the technology company’s stock valued at $35,000 after acquiring an additional 158 shares in the last quarter. Steigerwald Gordon & Koch Inc. acquired a new position in shares of NetEase in the 3rd quarter valued at about $38,000. Finally, First Horizon Corp purchased a new stake in shares of NetEase in the third quarter worth approximately $45,000. 11.07% of the stock is owned by institutional investors and hedge funds.

NetEase Trading Down 2.6%

NASDAQ:NTES opened at $113.99 on Friday. NetEase, Inc. has a 1 year low of $88.54 and a 1 year high of $159.55. The firm’s fifty day simple moving average is $129.05 and its 200 day simple moving average is $137.75. The firm has a market capitalization of $72.22 billion, a PE ratio of 15.53, a PEG ratio of 1.49 and a beta of 0.74.

NetEase Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 27th. Shareholders of record on Monday, March 16th will be given a $1.16 dividend. The ex-dividend date is Monday, March 16th. This represents a $4.64 annualized dividend and a yield of 4.1%. This is a positive change from NetEase’s previous quarterly dividend of $0.57. NetEase’s dividend payout ratio (DPR) is 30.93%.

Analyst Upgrades and Downgrades

NTES has been the subject of a number of research analyst reports. Wall Street Zen downgraded shares of NetEase from a “buy” rating to a “hold” rating in a research report on Sunday, November 23rd. Benchmark reiterated a “buy” rating on shares of NetEase in a report on Thursday, February 12th. Sanford C. Bernstein set a $155.00 target price on NetEase in a research note on Friday, November 21st. Citigroup reaffirmed a “buy” rating on shares of NetEase in a research note on Wednesday, February 11th. Finally, Barclays cut their price target on shares of NetEase from $135.00 to $132.00 and set an “equal weight” rating on the stock in a report on Thursday, February 12th. Eight analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat, NetEase currently has a consensus rating of “Moderate Buy” and an average price target of $153.89.

About NetEase

NetEase, Inc (NASDAQ: NTES) is a Chinese technology company headquartered in Hangzhou that develops and operates Internet services and products. Founded in 1997 by William Ding (Ding Lei), the company has grown from an early web portal and e-mail provider into a diversified online services group. William Ding has served as the company’s founder and long-time leader, guiding its expansion into games, digital content and consumer services.

The company’s primary business is interactive entertainment: NetEase Games designs, develops and publishes PC and mobile games for domestic and international audiences, offering a mix of self-developed franchises and titles published under licensing and strategic partnerships.