Franklin Resources Inc. Has $588,000 Stake in NetEase, Inc. (NASDAQ:NTES)

Franklin Resources Inc. boosted its stake in shares of NetEase, Inc. (NASDAQ:NTES) by 7.9% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 6,915 shares of the technology company’s stock after buying an additional 507 shares during the quarter. Franklin Resources Inc.’s holdings in NetEase were worth $588,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in NTES. SYSTM Wealth Solutions LLC lifted its stake in shares of NetEase by 55.5% in the 2nd quarter. SYSTM Wealth Solutions LLC now owns 328 shares of the technology company’s stock valued at $31,000 after purchasing an additional 117 shares during the period. State Street Corp lifted its stake in NetEase by 0.3% in the third quarter. State Street Corp now owns 56,729 shares of the technology company’s stock valued at $5,305,000 after buying an additional 156 shares during the period. Financial Advocates Investment Management boosted its holdings in shares of NetEase by 5.4% during the 3rd quarter. Financial Advocates Investment Management now owns 4,647 shares of the technology company’s stock worth $435,000 after buying an additional 237 shares in the last quarter. Brandes Investment Partners LP grew its position in shares of NetEase by 1.2% during the 2nd quarter. Brandes Investment Partners LP now owns 20,880 shares of the technology company’s stock worth $2,000,000 after buying an additional 248 shares during the period. Finally, Financial Counselors Inc. increased its stake in shares of NetEase by 8.0% in the 3rd quarter. Financial Counselors Inc. now owns 3,404 shares of the technology company’s stock valued at $318,000 after acquiring an additional 252 shares in the last quarter. Institutional investors own 11.07% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on NTES. Citigroup lifted their price target on shares of NetEase from $108.00 to $115.00 and gave the company a “buy” rating in a research note on Friday, November 15th. StockNews.com downgraded NetEase from a “strong-buy” rating to a “buy” rating in a research note on Friday, December 6th. Finally, Benchmark decreased their price objective on NetEase from $120.00 to $105.00 and set a “buy” rating for the company in a report on Friday, November 15th. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, NetEase presently has an average rating of “Moderate Buy” and a consensus target price of $107.29.

NetEase Stock Performance

NetEase stock opened at $89.25 on Tuesday. The stock has a market cap of $57.31 billion, a PE ratio of 15.08, a price-to-earnings-growth ratio of 3.53 and a beta of 0.57. NetEase, Inc. has a fifty-two week low of $75.85 and a fifty-two week high of $114.50. The firm’s 50-day simple moving average is $86.81 and its 200 day simple moving average is $87.88.

NetEase Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, December 13th. Stockholders of record on Friday, November 29th were issued a $0.435 dividend. This represents a $1.74 annualized dividend and a dividend yield of 1.95%. The ex-dividend date was Friday, November 29th. NetEase’s dividend payout ratio is presently 29.22%.

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.