NetEase, Inc. $NTES Stock Position Boosted by Royal Bank of Canada

Key Points

• Royal Bank of Canada increased its NetEase stake by 40.8% in the first quarter, bringing its holdings to 99,814 shares valued at approximately $11.17 million. Institutional investors collectively own 11.07% of the company.
• NetEase shares opened at $132.22, with a market capitalization of $84.65 billion and a P/E ratio of 17.56. The company recently paid a quarterly dividend of $0.72, equivalent to a 2.2% annualized yield.
• Analyst sentiment remains generally positive, with seven Buy ratings and three Holds, producing a “Moderate Buy” consensus and an average price target of $158.38. However, NetEase’s general counsel sold 10,000 shares for about $1.28 million.

Royal Bank of Canada raised its stake in shares of NetEase, Inc. (NASDAQ:NTES - Free Report) by 40.8% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 99,814 shares of the technology company's stock after buying an additional 28,934 shares during the period. Royal Bank of Canada's holdings in NetEase were worth $11,173,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in NTES. Arkadios Wealth Advisors raised its holdings in NetEase by 5.9% during the fourth quarter. Arkadios Wealth Advisors now owns 1,859 shares of the technology company's stock worth $256,000 after purchasing an additional 103 shares in the last quarter. Cookson Peirce & Co. Inc. increased its position in shares of NetEase by 2.2% during the 4th quarter. Cookson Peirce & Co. Inc. now owns 4,961 shares of the technology company's stock valued at $683,000 after purchasing an additional 106 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of NetEase by 10.7% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,119 shares of the technology company's stock valued at $154,000 after purchasing an additional 108 shares during the period. Vontobel Holding Ltd. raised its stake in shares of NetEase by 0.5% in the 4th quarter. Vontobel Holding Ltd. now owns 21,075 shares of the technology company's stock worth $2,900,000 after buying an additional 112 shares in the last quarter. Finally, Brighton Jones LLC raised its stake in shares of NetEase by 1.1% in the 4th quarter. Brighton Jones LLC now owns 10,297 shares of the technology company's stock worth $919,000 after buying an additional 117 shares in the last quarter. 11.07% of the stock is currently owned by institutional investors.

NetEase Stock Performance

NetEase stock opened at $132.22 on Friday. The company has a 50 day moving average price of $126.21 and a 200 day moving average price of $121.07. NetEase, Inc. has a 52 week low of $106.06 and a 52 week high of $159.55. The firm has a market capitalization of $84.65 billion, a price-to-earnings ratio of 17.56, a P/E/G ratio of 1.71 and a beta of 0.73.

NetEase Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 18th. Stockholders of record on Friday, June 5th were given a $0.72 dividend. This represents a $2.88 annualized dividend and a dividend yield of 2.2%. The ex-dividend date of this dividend was Friday, June 5th. NetEase's dividend payout ratio (DPR) is 38.11%.

Insider Buying and Selling at NetEase

In other news, General Counsel Paul William Boltz, Jr. sold 10,000 shares of NetEase stock in a transaction on Monday, June 29th. The stock was sold at an average price of $128.30, for a total transaction of $1,283,000.00. Following the transaction, the general counsel owned 12,223 shares in the company, valued at approximately $1,568,210.90. The trade was a 45.00% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 54.70% of the company's stock.

Analyst Ratings Changes

Several research analysts recently weighed in on NTES shares. Morgan Stanley reaffirmed an "overweight" rating and set a $158.00 target price on shares of NetEase in a research note on Tuesday, May 26th. Benchmark reissued a "buy" rating on shares of NetEase in a report on Friday, May 22nd. The Goldman Sachs Group set a $169.00 price objective on shares of NetEase in a research report on Wednesday, July 1st. Weiss Ratings cut shares of NetEase from a "hold (c+)" rating to a "hold (c)" rating in a research note on Tuesday. Finally, Zacks Research downgraded shares of NetEase from a "strong-buy" rating to a "hold" rating in a report on Monday, July 27th. Seven analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, NetEase presently has an average rating of "Moderate Buy" and an average price target of $158.38.

NetEase Company 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.

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