Venturi Wealth Management LLC Has $340,000 Stock Position in NetEase, Inc. $NTES

Venturi Wealth Management LLC lifted its position in shares of NetEase, Inc. (NASDAQ:NTES) by 3.5% in the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,527 shares of the technology company’s stock after buying an additional 86 shares during the quarter. Venturi Wealth Management LLC’s holdings in NetEase were worth $340,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Sumitomo Mitsui Trust Group Inc. raised its stake in NetEase by 20.8% in the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 8,685 shares of the technology company’s stock valued at $894,000 after purchasing an additional 1,495 shares in the last quarter. Sequoia Financial Advisors LLC acquired a new position in NetEase in the first quarter valued at about $398,000. Concurrent Investment Advisors LLC raised its stake in NetEase by 5.4% in the first quarter. Concurrent Investment Advisors LLC now owns 2,569 shares of the technology company’s stock valued at $264,000 after purchasing an additional 132 shares in the last quarter. GAMMA Investing LLC raised its stake in NetEase by 10,192.0% in the first quarter. GAMMA Investing LLC now owns 2,573 shares of the technology company’s stock valued at $265,000 after purchasing an additional 2,548 shares in the last quarter. Finally, Cubist Systematic Strategies LLC acquired a new position in NetEase in the first quarter valued at about $2,554,000. Institutional investors and hedge funds own 11.07% of the company’s stock.

NetEase Price Performance

NetEase stock opened at $146.91 on Friday. The business has a 50 day moving average of $141.86 and a 200-day moving average of $126.57. NetEase, Inc. has a 1 year low of $75.88 and a 1 year high of $159.55. The company has a market capitalization of $93.08 billion, a P/E ratio of 19.88, a P/E/G ratio of 2.02 and a beta of 0.67.

NetEase Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on NTES. Arete upgraded NetEase from a “sell” rating to a “buy” rating and set a $150.00 target price on the stock in a research report on Wednesday, September 3rd. Morgan Stanley reiterated an “overweight” rating and issued a $170.00 target price on shares of NetEase in a research report on Wednesday. The Goldman Sachs Group set a $161.00 target price on NetEase and gave the company a “buy” rating in a research report on Monday, September 15th. Zacks Research cut NetEase from a “strong-buy” rating to a “hold” rating in a research report on Friday, August 15th. Finally, JPMorgan Chase & Co. upgraded NetEase from a “neutral” rating to an “overweight” rating and lifted their target price for the company from $138.00 to $190.00 in a research report on Friday. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $142.30.

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.