JPMorgan Chase & Co. Acquires 80,555 Shares of NetEase Inc. (NTES)
JPMorgan Chase & Co. raised its position in shares of NetEase Inc. (NASDAQ:NTES) by 11.8% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 764,542 shares of the company’s stock after buying an additional 80,555 shares during the period. JPMorgan Chase & Co. owned about 0.58% of NetEase worth $184,086,000 as of its most recent filing with the SEC.
A number of other hedge funds have also made changes to their positions in the stock. AXA raised its stake in NetEase by 60.0% in the second quarter. AXA now owns 800 shares of the company’s stock valued at $155,000 after buying an additional 300 shares during the last quarter. Nippon Life Insurance Co. raised its stake in NetEase by 8.9% in the third quarter. Nippon Life Insurance Co. now owns 783 shares of the company’s stock valued at $189,000 after buying an additional 64 shares during the last quarter. Advisor Group Inc. purchased a new stake in NetEase during the second quarter valued at about $200,000. HBK Sorce Advisory LLC purchased a new stake in NetEase during the second quarter valued at about $232,000. Finally, Janney Montgomery Scott LLC purchased a new stake in NetEase during the second quarter valued at about $236,000. Institutional investors and hedge funds own 55.88% of the company’s stock.
Shares of NetEase Inc. (NASDAQ:NTES) opened at 224.10 on Thursday. The stock’s 50 day moving average price is $0.00 and its 200 day moving average price is $0.00. NetEase Inc. has a 12 month low of $129.60 and a 12 month high of $272.58.
The business also recently declared a quarterly dividend, which will be paid on Friday, December 2nd. Stockholders of record on Friday, November 25th will be issued a dividend of $0.78 per share. The ex-dividend date is Tuesday, November 22nd. This represents a $3.12 annualized dividend and a dividend yield of 1.39%. NetEase’s payout ratio is presently 25.15%.
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NTES has been the topic of a number of research analyst reports. Vetr downgraded shares of NetEase from a “sell” rating to a “strong sell” rating and set a $210.98 price target on the stock. in a report on Monday, September 19th. Morgan Stanley boosted their price target on shares of NetEase from $195.00 to $233.00 and gave the stock an “overweight” rating in a report on Thursday, November 10th. Brean Capital boosted their price target on shares of NetEase from $235.00 to $310.00 and gave the stock a “buy” rating in a report on Thursday, November 10th. Zacks Investment Research downgraded shares of NetEase from a “strong-buy” rating to a “hold” rating in a report on Tuesday, November 15th. Finally, T.H. Capital reissued a “buy” rating and issued a $297.00 price target (up from $227.00) on shares of NetEase in a report on Thursday, October 13th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. NetEase currently has an average rating of “Buy” and a consensus target price of $257.61.
NetEase, Inc (NetEase) is a technology company. The Company operates an interactive online community in China and is a provider of Chinese language content and services through its online games, Internet media, e-mail, e-commerce and other businesses. The Company operates through three segments: Online Game Services; Advertising Services, and E-mail, E-commerce and Others.
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