Genesis Investment Management LLP trimmed its holdings in NetEase, Inc. (NASDAQ:NTES - Free Report) by 32.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 510,024 shares of the technology company's stock after selling 248,612 shares during the quarter. NetEase comprises approximately 9.3% of Genesis Investment Management LLP's portfolio, making the stock its 4th largest holding. Genesis Investment Management LLP owned approximately 0.08% of NetEase worth $47,514,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also made changes to their positions in the stock. Assenagon Asset Management S.A. grew its stake in shares of NetEase by 451.3% in the 4th quarter. Assenagon Asset Management S.A. now owns 511,454 shares of the technology company's stock valued at $47,647,000 after buying an additional 418,677 shares during the period. WT Asset Management Ltd increased its stake in NetEase by 381.1% during the fourth quarter. WT Asset Management Ltd now owns 996,686 shares of the technology company's stock worth $92,851,000 after acquiring an additional 789,499 shares during the last quarter. FDx Advisors Inc. raised its position in NetEase by 11.6% in the third quarter. FDx Advisors Inc. now owns 8,352 shares of the technology company's stock valued at $837,000 after purchasing an additional 871 shares during the period. Qube Research & Technologies Ltd purchased a new stake in NetEase in the 3rd quarter valued at about $12,017,000. Finally, China Universal Asset Management Co. Ltd. purchased a new stake in NetEase in the 3rd quarter valued at about $1,102,000. 11.07% of the stock is currently owned by institutional investors and hedge funds.
NetEase Price Performance
Shares of NASDAQ NTES traded down $0.48 during midday trading on Wednesday, hitting $89.94. The company's stock had a trading volume of 1,109,888 shares, compared to its average volume of 1,753,613. The firm has a market capitalization of $57.99 billion, a price-to-earnings ratio of 14.28, a price-to-earnings-growth ratio of 0.84 and a beta of 0.58. The business's fifty day simple moving average is $104.38 and its two-hundred day simple moving average is $103.39. NetEase, Inc. has a 1 year low of $80.79 and a 1 year high of $118.89.
NetEase (NASDAQ:NTES - Get Free Report) last issued its quarterly earnings results on Thursday, February 29th. The technology company reported $1.42 EPS for the quarter, missing the consensus estimate of $1.62 by ($0.20). The business had revenue of $3.82 billion during the quarter, compared to analysts' expectations of $3.96 billion. NetEase had a net margin of 28.39% and a return on equity of 24.36%. Analysts anticipate that NetEase, Inc. will post 7.04 EPS for the current fiscal year.
NetEase Increases Dividend
The business also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Thursday, March 14th were paid a dividend of $1.08 per share. This represents a $4.32 annualized dividend and a yield of 4.80%. This is a boost from NetEase's previous quarterly dividend of $0.50. The ex-dividend date was Wednesday, March 13th. NetEase's payout ratio is presently 68.09%.
Analyst Ratings Changes
A number of equities research analysts have recently issued reports on the stock. StockNews.com raised shares of NetEase from a "buy" rating to a "strong-buy" rating in a research note on Tuesday, March 26th. Morgan Stanley dropped their target price on shares of NetEase from $135.00 to $120.00 and set an "overweight" rating for the company in a report on Friday, April 12th. Six research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, NetEase presently has a consensus rating of "Buy" and a consensus target price of $126.00.
Get Our Latest Research Report on NTES
About NetEase
(
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.
Featured Stories
Before you consider NetEase, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and NetEase wasn't on the list.
While NetEase currently has a "Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Wondering where to start (or end) with AI stocks? These 10 simple stocks can help investors build long-term wealth as artificial intelligence continues to grow into the future.
Get This Free Report
