Richardson Financial Services Inc. Invests $33,000 in NetEase, Inc. $NTES

Richardson Financial Services Inc. acquired a new position in NetEase, Inc. (NASDAQ:NTES) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 246 shares of the technology company’s stock, valued at approximately $33,000.

Other institutional investors have also made changes to their positions in the company. Kayne Anderson Rudnick Investment Management LLC bought a new stake in shares of NetEase in the first quarter worth $26,000. USA Financial Formulas bought a new stake in shares of NetEase in the second quarter worth $30,000. Mather Group LLC. lifted its position in shares of NetEase by 1,415.0% in the first quarter. Mather Group LLC. now owns 303 shares of the technology company’s stock worth $31,000 after purchasing an additional 283 shares in the last quarter. Reyes Financial Architecture Inc. lifted its position in shares of NetEase by 1,189.5% in the second quarter. Reyes Financial Architecture Inc. now owns 245 shares of the technology company’s stock worth $33,000 after purchasing an additional 226 shares in the last quarter. Finally, UMB Bank n.a. bought a new stake in shares of NetEase in the second quarter worth $39,000. Institutional investors own 11.07% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the stock. Morgan Stanley reissued an “overweight” rating and issued a $170.00 price objective on shares of NetEase in a research report on Wednesday. Wall Street Zen raised shares of NetEase from a “buy” rating to a “strong-buy” rating in a research report on Friday, October 3rd. Arete Research raised shares of NetEase to a “strong-buy” rating in a research report on Wednesday, September 3rd. JPMorgan Chase & Co. raised shares of NetEase from a “neutral” rating to an “overweight” rating and upped their price target for the stock from $138.00 to $190.00 in a research report on Friday. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of NetEase in a research report on Wednesday. One equities 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 data from MarketBeat, NetEase presently has a consensus rating of “Moderate Buy” and a consensus price target of $142.30.

NetEase Price Performance

NASDAQ:NTES opened at $146.91 on Friday. NetEase, Inc. has a one year low of $75.88 and a one year high of $159.55. The company has a market cap of $93.08 billion, a P/E ratio of 19.88, a P/E/G ratio of 1.96 and a beta of 0.67. The firm’s fifty day moving average price is $141.86 and its two-hundred day moving average price is $126.75.

NetEase Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 11th. Shareholders of record on Thursday, August 28th were issued a $0.675 dividend. This represents a $2.70 annualized dividend and a dividend yield of 1.8%. The ex-dividend date was Thursday, August 28th. NetEase’s payout ratio is currently 30.72%.

NetEase Company 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.