Huntington National Bank lifted its position in NetEase, Inc. (NASDAQ:NTES – Free Report) by 31.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 678 shares of the technology company’s stock after acquiring an additional 162 shares during the quarter. Huntington National Bank’s holdings in NetEase were worth $68,000 at the end of the most recent reporting period.
Several other institutional investors have also recently made changes to their positions in the company. Financial Gravity Asset Management Inc. purchased a new stake in shares of NetEase in the second quarter worth about $11,754,000. CWM LLC raised its position in NetEase by 59.9% in the 2nd quarter. CWM LLC now owns 331 shares of the technology company’s stock worth $32,000 after buying an additional 124 shares during the last quarter. Pinpoint Asset Management Ltd bought a new stake in shares of NetEase during the 1st quarter valued at about $42,000. First Capital Advisors Group LLC. bought a new stake in shares of NetEase during the 2nd quarter valued at about $47,000. Finally, Atlas Capital Advisors LLC bought a new position in shares of NetEase during the 2nd quarter valued at approximately $58,000. Institutional investors own 11.78% of the company’s stock.
NetEase Trading Up 1.3 %
NTES opened at $108.05 on Tuesday. NetEase, Inc. has a 12-month low of $76.85 and a 12-month high of $118.89. The business’s fifty day simple moving average is $97.65 and its 200-day simple moving average is $102.89. The company has a market capitalization of $69.66 billion, a price-to-earnings ratio of 18.66, a PEG ratio of 0.95 and a beta of 0.56.
NetEase Cuts Dividend
The company also recently declared a quarterly dividend, which was paid on Friday, December 15th. Stockholders of record on Friday, December 1st were given a dividend of $0.495 per share. This represents a $1.98 dividend on an annualized basis and a dividend yield of 1.83%. The ex-dividend date of this dividend was Thursday, November 30th. NetEase’s payout ratio is 34.02%.
Analyst Upgrades and Downgrades
Several research analysts have weighed in on the company. Benchmark upped their price target on NetEase from $130.00 to $140.00 and gave the stock a “buy” rating in a research note on Friday, November 17th. StockNews.com upgraded NetEase from a “buy” rating to a “strong-buy” rating in a report on Wednesday, November 22nd. Five investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $126.00.
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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