Blue Trust Inc. Purchases 281 Shares of NetEase, Inc. $NTES

Blue Trust Inc. increased its stake in NetEase, Inc. (NASDAQ:NTES) by 9.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 3,375 shares of the technology company’s stock after purchasing an additional 281 shares during the quarter. Blue Trust Inc.’s holdings in NetEase were worth $454,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Venturi Wealth Management LLC raised its holdings in NetEase by 3.5% during the 2nd quarter. Venturi Wealth Management LLC now owns 2,527 shares of the technology company’s stock valued at $340,000 after acquiring an additional 86 shares during the period. Checchi Capital Advisers LLC raised its holdings in NetEase by 4.6% during the 2nd quarter. Checchi Capital Advisers LLC now owns 2,347 shares of the technology company’s stock valued at $316,000 after acquiring an additional 103 shares during the period. Brighton Jones LLC raised its holdings in NetEase by 1.1% during the 4th quarter. Brighton Jones LLC now owns 10,297 shares of the technology company’s stock valued at $919,000 after acquiring an additional 117 shares during the period. Concurrent Investment Advisors LLC raised its holdings in NetEase by 5.4% during the 1st quarter. Concurrent Investment Advisors LLC now owns 2,569 shares of the technology company’s stock valued at $264,000 after acquiring an additional 132 shares during the period. Finally, Fifth Third Bancorp raised its holdings in NetEase by 2.7% during the 1st quarter. Fifth Third Bancorp now owns 5,264 shares of the technology company’s stock valued at $542,000 after acquiring an additional 138 shares during the period. Institutional investors own 11.07% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. Arete raised shares of NetEase from a “sell” rating to a “buy” rating and set a $150.00 target price on the stock in a report on Wednesday, September 3rd. The Goldman Sachs Group set a $161.00 target price on shares of NetEase and gave the company a “buy” rating in a report on Monday, September 15th. JPMorgan Chase & Co. raised shares of NetEase from a “neutral” rating to an “overweight” rating and boosted their target price for the company from $138.00 to $190.00 in a report on Friday. Wall Street Zen upgraded shares of NetEase from a “buy” rating to a “strong-buy” rating in a research report on Friday, October 3rd. Finally, Arete Research upgraded shares of NetEase to a “strong-buy” rating in a research report on Wednesday, September 3rd. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $142.30.

NetEase Stock Performance

Shares of NASDAQ:NTES opened at $146.91 on Monday. NetEase, Inc. has a 52-week low of $75.88 and a 52-week high of $159.55. The firm has a fifty day moving average of $141.86 and a 200 day moving average of $126.93. The firm has a market capitalization of $93.08 billion, a PE ratio of 19.88, a price-to-earnings-growth ratio of 1.96 and a beta of 0.67.

NetEase Dividend Announcement

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

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.