Franklin Resources Inc. Purchases 507 Shares of NetEase, Inc. (NASDAQ:NTES)

Franklin Resources Inc. increased its holdings in shares of NetEase, Inc. (NASDAQ:NTES) by 7.9% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 6,915 shares of the technology company’s stock after acquiring an additional 507 shares during the quarter. Franklin Resources Inc.’s holdings in NetEase were worth $588,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. SYSTM Wealth Solutions LLC increased its holdings in shares of NetEase by 55.5% during the second 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 shares of NetEase during the 2nd quarter valued at $35,000. Highline Wealth Partners LLC acquired a new stake in shares of NetEase during the 3rd quarter worth $45,000. RPg Family Wealth Advisory LLC bought a new position in shares of NetEase in the third quarter worth $70,000. Finally, Allspring Global Investments Holdings LLC acquired a new position in NetEase in the third quarter valued at about $76,000. Institutional investors and hedge funds own 11.07% of the company’s stock.

NetEase Stock Performance

Shares of NTES opened at $89.25 on Tuesday. The stock has a market capitalization of $57.31 billion, a price-to-earnings ratio of 15.08, a PEG ratio of 3.53 and a beta of 0.57. NetEase, Inc. has a 52 week low of $75.85 and a 52 week high of $114.50. The stock has a fifty day moving average of $86.81 and a 200-day moving average of $87.88.

NetEase Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 13th. Stockholders of record on Friday, November 29th were paid a $0.435 dividend. This represents a $1.74 annualized dividend and a dividend yield of 1.95%. The ex-dividend date was Friday, November 29th. NetEase’s dividend payout ratio is currently 29.22%.

Analyst Ratings Changes

Several research firms have commented on NTES. Citigroup raised their target price on shares of NetEase from $108.00 to $115.00 and gave the company a “buy” rating in a report on Friday, November 15th. Benchmark lowered their price objective on shares of NetEase from $120.00 to $105.00 and set a “buy” rating for the company in a research report on Friday, November 15th. Finally, StockNews.com lowered NetEase from a “strong-buy” rating to a “buy” rating in a research note on Friday, December 6th. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $107.29.

About NetEase

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.