E Fund Management Co. Ltd. acquired a new position in NetEase, Inc. (NASDAQ:NTES - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 11,365 shares of the technology company's stock, valued at approximately $1,059,000.
Several other large investors also recently made changes to their positions in NTES. Private Trust Co. NA lifted its stake in shares of NetEase by 418.9% during the fourth quarter. Private Trust Co. NA now owns 275 shares of the technology company's stock worth $26,000 after purchasing an additional 222 shares in the last quarter. Chilton Capital Management LLC acquired a new stake in shares of NetEase during the fourth quarter valued at about $37,000. Headlands Technologies LLC purchased a new stake in shares of NetEase during the third quarter worth about $56,000. Huntington National Bank lifted its stake in shares of NetEase by 31.4% in the third quarter. Huntington National Bank now owns 678 shares of the technology company's stock worth $68,000 after acquiring an additional 162 shares in the last quarter. Finally, CVA Family Office LLC purchased a new position in NetEase in the fourth quarter valued at about $65,000. Institutional investors and hedge funds own 11.07% of the company's stock.
Analyst Upgrades and Downgrades
NTES has been the topic of a number of recent analyst reports. Morgan Stanley cut their target price on 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 note on Wednesday. Finally, HSBC dropped their target price on shares of NetEase from $130.00 to $126.00 and set a "buy" rating for the company in a research report on Wednesday, April 24th. Seven research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Buy" and an average price target of $126.00.
Check Out Our Latest Research Report on NetEase
NetEase Stock Up 1.9 %
Shares of NASDAQ:NTES traded up $1.86 during trading on Thursday, hitting $98.49. 1,015,685 shares of the company traded hands, compared to its average volume of 1,714,879. The stock has a market capitalization of $63.50 billion, a price-to-earnings ratio of 15.56, a PEG ratio of 0.94 and a beta of 0.58. NetEase, Inc. has a one year low of $80.79 and a one year high of $118.89. The business's fifty day moving average is $100.45 and its 200-day moving average is $102.55.
NetEase (NASDAQ:NTES - Get Free Report) last issued its quarterly earnings data on Thursday, February 29th. The technology company reported $1.42 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 company had revenue of $3.82 billion for the quarter, compared to the consensus estimate of $3.96 billion. On average, analysts forecast that NetEase, Inc. will post 7.04 EPS for the current year.
NetEase Increases Dividend
The company also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Thursday, March 14th were paid a dividend of $1.08 per share. This represents a $4.32 dividend on an annualized basis and a yield of 4.39%. This is a positive change from NetEase's previous quarterly dividend of $0.50. The ex-dividend date of this dividend was Wednesday, March 13th. NetEase's payout ratio is presently 67.93%.
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.
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