248 Shares in NetEase, Inc. $NTES Bought by Kayne Anderson Rudnick Investment Management LLC

Kayne Anderson Rudnick Investment Management LLC acquired a new position in shares of NetEase, Inc. (NASDAQ:NTES) in the first quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 248 shares of the technology company’s stock, valued at approximately $26,000.

A number of other hedge funds have also recently made changes to their positions in NTES. Brighton Jones LLC lifted its stake in shares of NetEase by 1.1% during the 4th quarter. Brighton Jones LLC now owns 10,297 shares of the technology company’s stock worth $919,000 after purchasing an additional 117 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in shares of NetEase during the 4th quarter worth $2,192,000. NewEdge Advisors LLC lifted its stake in shares of NetEase by 14.3% during the 4th quarter. NewEdge Advisors LLC now owns 3,850 shares of the technology company’s stock worth $343,000 after purchasing an additional 481 shares during the last quarter. First Trust Advisors LP lifted its stake in shares of NetEase by 129.0% during the 4th quarter. First Trust Advisors LP now owns 5,821 shares of the technology company’s stock worth $519,000 after purchasing an additional 3,279 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its stake in shares of NetEase by 11.4% during the 4th quarter. Dimensional Fund Advisors LP now owns 715,882 shares of the technology company’s stock worth $63,874,000 after purchasing an additional 73,349 shares during the last quarter. 11.07% of the stock is currently owned by hedge funds and other institutional investors.

NetEase Stock Performance

Shares of NTES stock opened at $135.07 on Thursday. The stock’s 50-day simple moving average is $132.30 and its 200-day simple moving average is $116.52. The firm has a market capitalization of $85.58 billion, a PE ratio of 18.28, a P/E/G ratio of 1.81 and a beta of 0.67. NetEase, Inc. has a fifty-two week low of $75.85 and a fifty-two week high of $141.45.

NetEase Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 11th. Stockholders of record on Thursday, August 28th will be issued a $0.675 dividend. The ex-dividend date of this dividend is Thursday, August 28th. This represents a $2.70 dividend on an annualized basis and a dividend yield of 2.0%. NetEase’s dividend payout ratio is currently 36.40%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the company. Zacks Research cut NetEase from a “strong-buy” rating to a “hold” rating in a research note on Friday, August 15th. Barclays set a $120.00 price target on NetEase and gave the company an “equal weight” rating in a research note on Monday, August 18th. JPMorgan Chase & Co. cut NetEase from an “overweight” rating to a “neutral” rating and increased their price target for the company from $135.00 to $140.00 in a research note on Monday, July 28th. Wall Street Zen cut NetEase from a “strong-buy” rating to a “buy” rating in a research note on Saturday, August 16th. Finally, Deutsche Bank Aktiengesellschaft began coverage on NetEase in a research note on Monday, May 12th. They issued a “buy” rating and a $130.00 price target for the company. Five investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $122.71.

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.