Hantz Financial Services Inc. Boosts Stake in NetEase, Inc. $NTES

Hantz Financial Services Inc. grew its position in shares of NetEase, Inc. (NASDAQ:NTES) by 185.2% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 8,690 shares of the technology company’s stock after buying an additional 5,643 shares during the quarter. Hantz Financial Services Inc.’s holdings in NetEase were worth $1,321,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently modified their holdings of NTES. Brighton Jones LLC lifted its holdings in NetEase by 1.1% during the fourth quarter. Brighton Jones LLC now owns 10,297 shares of the technology company’s stock worth $919,000 after acquiring an additional 117 shares during the period. Strs Ohio bought a new stake in shares of NetEase during the 1st quarter worth $63,000. Truist Financial Corp raised its stake in shares of NetEase by 185.2% during the 2nd quarter. Truist Financial Corp now owns 8,807 shares of the technology company’s stock worth $1,185,000 after purchasing an additional 5,719 shares during the period. QRG Capital Management Inc. boosted its holdings in shares of NetEase by 19.3% in the 2nd quarter. QRG Capital Management Inc. now owns 5,759 shares of the technology company’s stock worth $775,000 after buying an additional 932 shares during the last quarter. Finally, DAVENPORT & Co LLC bought a new position in NetEase during the second quarter valued at about $1,356,000. 11.07% of the stock is owned by institutional investors.

NetEase Price Performance

Shares of NTES stock opened at $122.92 on Friday. The stock has a market capitalization of $77.88 billion, a price-to-earnings ratio of 15.70, a PEG ratio of 1.34 and a beta of 0.71. The company’s fifty day simple moving average is $136.66 and its two-hundred day simple moving average is $139.60. NetEase, Inc. has a 1 year low of $88.54 and a 1 year high of $159.55.

NetEase Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, December 19th. Shareholders of record on Friday, December 5th were issued a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date of this dividend was Friday, December 5th. NetEase’s payout ratio is presently 28.99%.

Wall Street Analyst Weigh In

NTES has been the topic of several research reports. Citigroup reaffirmed a “buy” rating on shares of NetEase in a research report on Friday, November 21st. JPMorgan Chase & Co. raised shares of NetEase from a “neutral” rating to an “overweight” rating and lifted their price target for the stock from $138.00 to $190.00 in a report on Friday, October 10th. Benchmark increased their price objective on NetEase from $145.00 to $158.00 and gave the company a “buy” rating in a report on Friday, November 21st. Wall Street Zen downgraded NetEase from a “buy” rating to a “hold” rating in a research report on Sunday, November 23rd. Finally, Sanford C. Bernstein set a $155.00 price target on NetEase in a research report on Friday, November 21st. Seven investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $156.13.

NetEase Profile

NetEase, Inc (NASDAQ: NTES) is a Chinese technology company headquartered in Hangzhou that develops and operates Internet services and products. Founded in 1997 by William Ding (Ding Lei), the company has grown from an early web portal and e-mail provider into a diversified online services group. William Ding has served as the company’s founder and long-time leader, guiding its expansion into games, digital content and consumer services.

The company’s primary business is interactive entertainment: NetEase Games designs, develops and publishes PC and mobile games for domestic and international audiences, offering a mix of self-developed franchises and titles published under licensing and strategic partnerships.