Raymond James Financial Inc. bought a new position in NetEase, Inc. (NASDAQ:NTES - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 24,566 shares of the technology company's stock, valued at approximately $2,192,000.
A number of other institutional investors also recently modified their holdings of the stock. Citigroup Inc. raised its stake in shares of NetEase by 6.9% during the 3rd quarter. Citigroup Inc. now owns 50,349 shares of the technology company's stock worth $4,708,000 after purchasing an additional 3,240 shares in the last quarter. Cerity Partners LLC raised its position in NetEase by 21.4% during the third quarter. Cerity Partners LLC now owns 5,519 shares of the technology company's stock valued at $516,000 after acquiring an additional 972 shares in the last quarter. Financial Counselors Inc. lifted its stake in NetEase by 8.0% in the third quarter. Financial Counselors Inc. now owns 3,404 shares of the technology company's stock valued at $318,000 after acquiring an additional 252 shares during the last quarter. Flow Traders U.S. LLC bought a new stake in NetEase in the third quarter worth approximately $751,000. Finally, Erste Asset Management GmbH acquired a new position in shares of NetEase during the 3rd quarter worth $2,340,000. Institutional investors and hedge funds own 11.07% of the company's stock.
NetEase Trading Down 1.4 %
NTES traded down $1.46 during midday trading on Thursday, reaching $104.94. The company's stock had a trading volume of 1,093,168 shares, compared to its average volume of 1,572,382. NetEase, Inc. has a twelve month low of $75.85 and a twelve month high of $110.15. The stock has a market cap of $67.39 billion, a P/E ratio of 16.47, a PEG ratio of 3.37 and a beta of 0.61. The company has a fifty day simple moving average of $102.47 and a 200 day simple moving average of $93.35.
NetEase (NASDAQ:NTES - Get Free Report) last announced its quarterly earnings data on Thursday, February 20th. The technology company reported $1.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.73 by $0.14. The business had revenue of $3.66 billion for the quarter, compared to the consensus estimate of $27.16 billion. NetEase had a net margin of 28.17% and a return on equity of 22.12%. Sell-side analysts expect that NetEase, Inc. will post 6.91 earnings per share for the current year.
NetEase Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Stockholders of record on Thursday, March 6th were issued a dividend of $0.435 per share. The ex-dividend date was Thursday, March 6th. This represents a $1.74 annualized dividend and a dividend yield of 1.66%. NetEase's payout ratio is 76.45%.
Wall Street Analyst Weigh In
NTES has been the subject of several analyst reports. StockNews.com lowered shares of NetEase from a "strong-buy" rating to a "buy" rating in a research note on Friday, December 6th. Morgan Stanley boosted their price target on NetEase from $108.00 to $117.00 and gave the stock an "overweight" rating in a research report on Wednesday, February 12th. Bank of America increased 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. Barclays boosted their target price on NetEase from $82.00 to $104.00 and gave the stock an "equal weight" rating in a report on Monday, February 24th. Finally, Benchmark lifted their price target on shares of NetEase from $105.00 to $115.00 and gave the company a "buy" rating in a research report on Friday, February 21st. One analyst has rated the stock with a hold rating and seven have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $114.57.
Read Our Latest Research Report on NetEase
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 Articles
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 Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Looking to profit from the electric vehicle mega-trend? Enter your email address and we'll send you our list of which EV stocks show the most long-term potential.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
