Harvest Fund Management Co. Ltd Has $5.56 Million Holdings in NetEase, Inc. (NASDAQ:NTES)

Harvest Fund Management Co. Ltd cut its holdings in shares of NetEase, Inc. (NASDAQ:NTES - Free Report) by 35.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 59,722 shares of the technology company's stock after selling 32,822 shares during the period. NetEase accounts for approximately 0.9% of Harvest Fund Management Co. Ltd's holdings, making the stock its 21st biggest holding. Harvest Fund Management Co. Ltd's holdings in NetEase were worth $5,561,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in NTES. Ritholtz Wealth Management lifted its position in NetEase by 82.3% during the 3rd quarter. Ritholtz Wealth Management now owns 5,927 shares of the technology company's stock valued at $594,000 after purchasing an additional 2,676 shares during the period. Ballentine Partners LLC acquired a new stake in shares of NetEase in the 3rd quarter valued at approximately $216,000. Cambridge Investment Research Advisors Inc. raised its position in shares of NetEase by 13.2% in the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 6,467 shares of the technology company's stock valued at $648,000 after acquiring an additional 752 shares during the period. Dakota Wealth Management acquired a new stake in shares of NetEase in the 3rd quarter valued at approximately $200,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of NetEase by 86.8% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 16,918 shares of the technology company's stock valued at $1,695,000 after acquiring an additional 7,860 shares during the period. 11.07% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on NTES. Morgan Stanley cut their price target on shares of NetEase from $135.00 to $120.00 and set an "overweight" rating on the stock in a research report on Friday, April 12th. StockNews.com upgraded shares of NetEase from a "buy" rating to a "strong-buy" rating in a research report on Tuesday, March 26th. Six investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus target price of $126.00.

NetEase Stock Performance

NASDAQ NTES traded down $1.81 during trading hours on Tuesday, reaching $93.07. 1,735,334 shares of the company's stock were exchanged, compared to its average volume of 1,753,385. The company's 50-day moving average is $103.05 and its two-hundred day moving average is $103.15. NetEase, Inc. has a one year low of $80.79 and a one year high of $118.89. The company has a market capitalization of $60.00 billion, a price-to-earnings ratio of 14.70, a price-to-earnings-growth ratio of 0.85 and a beta of 0.58.

NetEase (NASDAQ:NTES - Get Free Report) last posted its earnings results on Thursday, February 29th. The technology company reported $1.42 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.62 by ($0.20). NetEase had a return on equity of 24.36% and a net margin of 28.39%. The business had revenue of $3.82 billion for the quarter, compared to the consensus estimate of $3.96 billion. Research analysts predict that NetEase, Inc. will post 7.04 earnings per share for the current fiscal year.

NetEase Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Thursday, March 14th were paid a dividend of $1.08 per share. This is a boost from NetEase's previous quarterly dividend of $0.50. This represents a $4.32 annualized dividend and a dividend yield of 4.64%. The ex-dividend date of this dividend was Wednesday, March 13th. NetEase's dividend payout ratio (DPR) is currently 67.93%.

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.

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