Choreo LLC Makes New Investment in NetEase, Inc. $NTES

Choreo LLC purchased a new position in shares of NetEase, Inc. (NASDAQ:NTES) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 6,475 shares of the technology company’s stock, valued at approximately $871,000.

Other hedge funds have also made changes to their positions in the company. NewSquare Capital LLC increased its stake in NetEase by 137.2% in the second quarter. NewSquare Capital LLC now owns 185 shares of the technology company’s stock valued at $25,000 after purchasing an additional 107 shares during the last quarter. Private Trust Co. NA grew its holdings in NetEase by 266.0% in the 2nd quarter. Private Trust Co. NA now owns 194 shares of the technology company’s stock valued at $26,000 after buying an additional 141 shares during the period. USA Financial Formulas acquired a new position in shares of NetEase during the 2nd quarter valued at about $30,000. Reyes Financial Architecture Inc. lifted its holdings in shares of NetEase by 1,189.5% during the 2nd quarter. Reyes Financial Architecture Inc. now owns 245 shares of the technology company’s stock worth $33,000 after acquiring an additional 226 shares during the period. Finally, Richardson Financial Services Inc. acquired a new stake in shares of NetEase in the second quarter worth approximately $33,000. Institutional investors and hedge funds own 11.07% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. Wall Street Zen lowered shares of NetEase from a “buy” rating to a “hold” rating in a research report on Sunday, November 23rd. Barclays set a $135.00 price objective on NetEase and gave the stock an “equal weight” rating in a report on Friday, November 21st. 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 report on Friday, October 10th. Citigroup restated a “buy” rating on shares of NetEase in a research note on Friday, November 21st. Finally, Sanford C. Bernstein set a $155.00 price objective on NetEase in a report on Friday, November 21st. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $152.10.

NetEase Price Performance

Shares of NASDAQ NTES opened at $137.00 on Monday. NetEase, Inc. has a 1-year low of $85.94 and a 1-year high of $159.55. The company has a market capitalization of $86.80 billion, a price-to-earnings ratio of 18.54, a PEG ratio of 1.91 and a beta of 0.65. The business has a 50-day moving average of $144.75 and a 200-day moving average of $136.95.

NetEase Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 19th. Shareholders of record on Friday, December 5th will be issued a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date is Friday, December 5th. NetEase’s dividend payout ratio is currently 28.99%.

NetEase Company 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.