Capital Wealth Planning LLC Acquires 10,481 Shares of NetEase, Inc. (NASDAQ:NTES)

Capital Wealth Planning LLC lifted its holdings in shares of NetEase, Inc. (NASDAQ:NTES - Free Report) by 101.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 20,841 shares of the technology company's stock after acquiring an additional 10,481 shares during the quarter. Capital Wealth Planning LLC's holdings in NetEase were worth $1,942,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Financial Counselors Inc. grew its stake in NetEase by 4.1% in the fourth quarter. Financial Counselors Inc. now owns 3,195 shares of the technology company's stock worth $298,000 after purchasing an additional 125 shares during the period. Lindbrook Capital LLC grew its stake in NetEase by 14.0% in the fourth quarter. Lindbrook Capital LLC now owns 1,043 shares of the technology company's stock worth $97,000 after purchasing an additional 128 shares during the period. Sequoia Financial Advisors LLC grew its stake in NetEase by 5.8% in the fourth quarter. Sequoia Financial Advisors LLC now owns 2,588 shares of the technology company's stock worth $241,000 after purchasing an additional 143 shares during the period. Huntington National Bank grew its stake in 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 purchasing an additional 162 shares during the period. Finally, Panagora Asset Management Inc. grew its stake in NetEase by 1.5% in the third quarter. Panagora Asset Management Inc. now owns 12,201 shares of the technology company's stock worth $1,222,000 after purchasing an additional 178 shares during the period. Institutional investors own 11.07% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on NTES shares. HSBC reduced their price target on NetEase from $130.00 to $126.00 and set a "buy" rating on the stock in a research note on Wednesday, April 24th. StockNews.com cut NetEase from a "strong-buy" rating to a "buy" rating in a research note on Thursday. Finally, 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 note on Friday, April 12th. Eight investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, NetEase has an average rating of "Buy" and an average target price of $126.00.

NetEase Stock Up 5.5 %

Shares of NASDAQ NTES traded up $5.45 during trading on Thursday, reaching $104.21. The company had a trading volume of 1,691,103 shares, compared to its average volume of 1,705,051. The stock has a market cap of $67.19 billion, a PE ratio of 16.40, a P/E/G ratio of 0.91 and a beta of 0.58. NetEase, Inc. has a 12-month low of $80.79 and a 12-month high of $118.89. The business's 50-day moving average is $99.59 and its 200 day moving average is $102.34.

NetEase (NASDAQ:NTES - Get Free Report) last announced its quarterly 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). The business had revenue of $3.82 billion for the quarter, compared to the consensus estimate of $3.96 billion. NetEase had a net margin of 28.39% and a return on equity of 24.36%. On average, analysts anticipate that NetEase, Inc. will post 7.04 earnings per share for the current 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 issued a dividend of $1.08 per share. This is an increase from NetEase's previous quarterly dividend of $0.50. This represents a $4.32 dividend on an annualized basis and a dividend yield of 4.15%. The ex-dividend date was Wednesday, March 13th. NetEase's dividend payout ratio is presently 68.09%.

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.