Financial Counselors Inc. Increases Stock Position in NetEase, Inc. (NASDAQ:NTES)

Financial Counselors Inc. boosted its holdings in NetEase, Inc. (NASDAQ:NTES) by 8.0% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 3,404 shares of the technology company’s stock after buying an additional 252 shares during the period. Financial Counselors Inc.’s holdings in NetEase were worth $318,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in NTES. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of NetEase by 13,747.9% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 6,258,442 shares of the technology company’s stock worth $585,227,000 after acquiring an additional 6,213,248 shares during the period. RPg Family Wealth Advisory LLC purchased a new stake in NetEase in the third quarter worth approximately $70,000. Healthcare of Ontario Pension Plan Trust Fund grew its position in NetEase by 472.6% in the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 418,000 shares of the technology company’s stock worth $39,087,000 after purchasing an additional 345,000 shares during the period. DRW Securities LLC purchased a new stake in NetEase during the 3rd quarter valued at $1,011,000. Finally, Fisher Asset Management LLC lifted its holdings in shares of NetEase by 7.8% during the 3rd quarter. Fisher Asset Management LLC now owns 1,145,657 shares of the technology company’s stock valued at $107,130,000 after buying an additional 82,474 shares during the period. 11.07% of the stock is currently owned by hedge funds and other institutional investors.

NetEase Price Performance

Shares of NASDAQ:NTES opened at $87.48 on Friday. The company has a market capitalization of $56.18 billion, a P/E ratio of 14.78, a P/E/G ratio of 3.20 and a beta of 0.57. NetEase, Inc. has a 1-year low of $75.85 and a 1-year high of $114.50. The firm’s 50 day simple moving average is $85.61 and its two-hundred day simple moving average is $88.16.

NetEase Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 29th will be issued a $0.435 dividend. This represents a $1.74 annualized dividend and a yield of 1.99%. The ex-dividend date is Friday, November 29th. NetEase’s dividend payout ratio is currently 29.22%.

Analyst Ratings Changes

Several analysts recently commented on NTES shares. StockNews.com raised NetEase from a “buy” rating to a “strong-buy” rating in a report on Thursday. Jefferies Financial Group reduced their price target on shares of NetEase from $126.00 to $103.00 and set a “buy” rating for the company in a research report on Thursday, August 22nd. Benchmark dropped their price objective on shares of NetEase from $120.00 to $105.00 and set a “buy” rating on the stock in a report on Friday, November 15th. Bank of America reduced their target price on shares of NetEase from $142.00 to $120.00 and set a “buy” rating for the company in a report on Friday, August 23rd. Finally, Barclays dropped their price target on shares of NetEase from $104.00 to $82.00 and set an “equal weight” rating on the stock in a research note on Monday, August 26th. Two equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, NetEase has an average rating of “Moderate Buy” and an average target price of $107.29.

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.