PDS Planning Inc Acquires New Shares in NetEase, Inc. $NTES

PDS Planning Inc acquired a new stake in NetEase, Inc. (NASDAQ:NTESFree Report) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 1,945 shares of the technology company’s stock, valued at approximately $262,000.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Blue Trust Inc. raised its holdings in shares of NetEase by 9.1% in the second quarter. Blue Trust Inc. now owns 3,375 shares of the technology company’s stock valued at $454,000 after acquiring an additional 281 shares in the last quarter. Callan Family Office LLC bought a new stake in shares of NetEase in the second quarter valued at about $826,000. US Bancorp DE raised its holdings in shares of NetEase by 126.8% in the second quarter. US Bancorp DE now owns 59,594 shares of the technology company’s stock valued at $8,020,000 after acquiring an additional 33,318 shares in the last quarter. InTrack Investment Management Inc bought a new stake in shares of NetEase in the second quarter valued at about $497,000. Finally, Venturi Wealth Management LLC raised its holdings 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 valued at $340,000 after acquiring an additional 86 shares in the last quarter. 11.07% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

NTES has been the subject of several recent research reports. Arete upgraded 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. Barclays set a $120.00 target price on NetEase and gave the company an “equal weight” rating in a research note on Monday, August 18th. Wall Street Zen upgraded NetEase from a “buy” rating to a “strong-buy” rating in a research note on Friday, October 3rd. The Goldman Sachs Group set a $161.00 target price on NetEase and gave the company a “buy” rating in a research note on Monday, September 15th. Finally, Zacks Research lowered NetEase from a “strong-buy” rating to a “hold” rating in a research note on Friday, August 15th. 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 stock. According to MarketBeat, NetEase presently has a consensus rating of “Moderate Buy” and an average target price of $142.30.

View Our Latest Analysis on NTES

NetEase Stock Performance

Shares of NTES stock opened at $146.91 on Monday. NetEase, Inc. has a fifty-two week low of $75.88 and a fifty-two week high of $159.55. The firm has a market capitalization of $93.08 billion, a price-to-earnings ratio of 19.88, a PEG ratio of 1.96 and a beta of 0.67. The stock’s 50-day simple moving average is $141.86 and its 200-day simple moving average is $126.93.

NetEase Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 11th. Stockholders of record on Thursday, August 28th were paid a dividend of $0.675 per share. The ex-dividend date was Thursday, August 28th. This represents a $2.70 dividend on an annualized basis and a dividend yield of 1.8%. NetEase’s payout ratio is presently 30.72%.

About NetEase

(Free Report)

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.

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Institutional Ownership by Quarter for NetEase (NASDAQ:NTES)

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