Cerity Partners LLC Increases Position in NetEase, Inc. (NASDAQ:NTES)

Cerity Partners LLC increased its stake in shares of NetEase, Inc. (NASDAQ:NTES) by 21.4% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 5,519 shares of the technology company’s stock after buying an additional 972 shares during the period. Cerity Partners LLC’s holdings in NetEase were worth $516,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in NTES. Sequoia Financial Advisors LLC lifted its position in shares of NetEase by 4.3% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 2,575 shares of the technology company’s stock valued at $246,000 after acquiring an additional 107 shares during the period. SYSTM Wealth Solutions LLC grew its holdings in NetEase by 55.5% in the second quarter. SYSTM Wealth Solutions LLC now owns 328 shares of the technology company’s stock valued at $31,000 after purchasing an additional 117 shares during the last quarter. Fifth Third Bancorp increased its position in shares of NetEase by 1.9% in the second quarter. Fifth Third Bancorp now owns 7,658 shares of the technology company’s stock valued at $732,000 after buying an additional 146 shares in the last quarter. Financial Advocates Investment Management raised its stake in shares of NetEase by 5.4% during the 3rd quarter. Financial Advocates Investment Management now owns 4,647 shares of the technology company’s stock worth $435,000 after buying an additional 237 shares during the last quarter. Finally, Brandes Investment Partners LP raised its stake in shares of NetEase by 1.2% during the 2nd quarter. Brandes Investment Partners LP now owns 20,880 shares of the technology company’s stock worth $2,000,000 after buying an additional 248 shares during the last quarter. 11.07% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have recently commented on NTES. Bank of America lowered their price target on shares of NetEase from $142.00 to $120.00 and set a “buy” rating on the stock in a research report on Friday, August 23rd. Jefferies Financial Group lowered their price target on NetEase from $126.00 to $103.00 and set a “buy” rating for the company in a report on Thursday, August 22nd. Citigroup increased their price objective on shares of NetEase from $108.00 to $115.00 and gave the stock a “buy” rating in a report on Friday, November 15th. Barclays lowered their target price on shares of NetEase from $104.00 to $82.00 and set an “equal weight” rating for the company in a report on Monday, August 26th. Finally, Benchmark decreased their price target on shares of NetEase from $120.00 to $105.00 and set a “buy” rating on the stock in a report on Friday, November 15th. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $107.29.

NetEase Stock Up 1.0 %

NTES opened at $91.29 on Friday. NetEase, Inc. has a 52-week low of $75.85 and a 52-week high of $114.50. The company has a 50 day moving average of $85.85 and a two-hundred day moving average of $87.73. The company has a market cap of $58.62 billion, a P/E ratio of 15.42, a P/E/G ratio of 3.36 and a beta of 0.57.

NetEase Dividend Announcement

The business also recently declared 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 is Friday, November 29th. This represents a $1.74 annualized dividend and a yield of 1.91%. NetEase’s dividend payout ratio is currently 29.22%.

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.