Lazard Asset Management LLC increased its position in NetEase, Inc. (NASDAQ:NTES - Free Report) by 2.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,599,794 shares of the technology company's stock after purchasing an additional 69,789 shares during the quarter. Lazard Asset Management LLC owned approximately 0.56% of NetEase worth $321,137,000 as of its most recent SEC filing.
A number of other institutional investors have also added to or reduced their stakes in NTES. UMB Bank n.a. boosted its stake in NetEase by 33.3% in the 4th quarter. UMB Bank n.a. now owns 444 shares of the technology company's stock worth $40,000 after purchasing an additional 111 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. increased its position in NetEase by 1.6% during the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 7,190 shares of the technology company's stock worth $641,000 after purchasing an additional 114 shares during the last quarter. Brighton Jones LLC boosted its position in shares of NetEase by 1.1% during the 4th quarter. Brighton Jones LLC now owns 10,297 shares of the technology company's stock worth $919,000 after purchasing an additional 117 shares during the period. Farther Finance Advisors LLC increased its stake in NetEase by 81.7% during the fourth quarter. Farther Finance Advisors LLC now owns 338 shares of the technology company's stock worth $30,000 after purchasing an additional 152 shares during the period. Finally, Euro Pacific Asset Management LLC increased its position in shares of NetEase by 1.3% during the fourth quarter. Euro Pacific Asset Management LLC now owns 13,137 shares of the technology company's stock worth $1,172,000 after acquiring an additional 173 shares during the period. Hedge funds and other institutional investors own 11.07% of the company's stock.
Wall Street Analysts Forecast Growth
NTES has been the topic of a number of recent analyst reports. Morgan Stanley increased their price objective on NetEase from $108.00 to $117.00 and gave the company an "overweight" rating in a report on Wednesday, February 12th. Bank of America lifted their price objective on NetEase from $120.00 to $122.00 and gave the company a "buy" rating in a report on Wednesday, January 15th. Benchmark boosted their price objective on shares of NetEase from $105.00 to $115.00 and gave the stock a "buy" rating in a report on Friday, February 21st. Barclays raised their price objective on shares of NetEase from $82.00 to $104.00 and gave the stock an "equal weight" rating in a research note on Monday, February 24th. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on shares of NetEase in a research note on Monday. They issued a "buy" rating and a $130.00 target price for the company. One equities research analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $115.14.
Check Out Our Latest Analysis on NTES
NetEase Stock Performance
Shares of NASDAQ:NTES traded up $15.65 during trading hours on Thursday, hitting $122.76. 4,242,288 shares of the company's stock traded hands, compared to its average volume of 1,599,883. NetEase, Inc. has a 52 week low of $75.85 and a 52 week high of $123.55. The company has a market cap of $77.78 billion, a price-to-earnings ratio of 19.27, a price-to-earnings-growth ratio of 3.37 and a beta of 0.66. The company's fifty day simple moving average is $101.95 and its two-hundred day simple moving average is $96.55.
NetEase (NASDAQ:NTES - Get Free Report) last posted its quarterly earnings data on Thursday, February 20th. The technology company reported $1.87 EPS for the quarter, topping analysts' consensus estimates of $1.73 by $0.14. The firm had revenue of $3.66 billion during the quarter, compared to analyst estimates of $27.16 billion. NetEase had a net margin of 28.17% and a return on equity of 22.12%. On average, analysts anticipate that NetEase, Inc. will post 6.91 EPS for the current fiscal year.
NetEase Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Stockholders of record on Thursday, March 6th were given a $0.435 dividend. This represents a $1.74 annualized dividend and a dividend yield of 1.42%. The ex-dividend date was Thursday, March 6th. NetEase's dividend payout ratio is currently 76.45%.
NetEase Profile
(
Free Report)
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.
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