Abacus FCF Advisors LLC purchased a new position in shares of NetEase, Inc. (NASDAQ:NTES - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 14,118 shares of the technology company's stock, valued at approximately $1,259,000.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in NTES. State Street Corp increased its stake in shares of NetEase by 0.3% in the third quarter. State Street Corp now owns 56,729 shares of the technology company's stock worth $5,305,000 after buying an additional 156 shares during the last quarter. Wellington Management Group LLP increased its holdings in NetEase by 1.1% in the third quarter. Wellington Management Group LLP now owns 1,020,213 shares of the technology company's stock valued at $95,400,000 after buying an additional 10,920 shares during the last quarter. Kovitz Investment Group Partners LLC raised its stake in NetEase by 75.6% during the third quarter. Kovitz Investment Group Partners LLC now owns 14,167 shares of the technology company's stock valued at $1,323,000 after buying an additional 6,099 shares in the last quarter. XTX Topco Ltd bought a new stake in shares of NetEase in the 3rd quarter valued at approximately $274,000. Finally, MML Investors Services LLC raised its position in shares of NetEase by 12.1% during the 3rd quarter. MML Investors Services LLC now owns 3,954 shares of the technology company's stock valued at $370,000 after acquiring an additional 428 shares in the last quarter. 11.07% of the stock is owned by hedge funds and other institutional investors.
NetEase Price Performance
Shares of NTES traded down $0.46 during trading hours on Monday, reaching $98.89. 682,056 shares of the company's stock traded hands, compared to its average volume of 1,610,386. NetEase, Inc. has a twelve month low of $75.85 and a twelve month high of $110.15. The business's fifty day simple moving average is $101.13 and its two-hundred day simple moving average is $94.15. The firm has a market capitalization of $63.50 billion, a price-to-earnings ratio of 15.52, a P/E/G ratio of 3.37 and a beta of 0.65.
NetEase (NASDAQ:NTES - Get Free Report) last released its quarterly earnings results on Thursday, February 20th. The technology company reported $1.87 EPS for the quarter, topping analysts' consensus estimates of $1.73 by $0.14. The company 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%. On average, equities research analysts expect that NetEase, Inc. will post 6.91 EPS for the current year.
NetEase Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Thursday, March 6th were paid a dividend of $0.435 per share. This represents a $1.74 dividend on an annualized basis and a yield of 1.76%. The ex-dividend date of this dividend was Thursday, March 6th. NetEase's payout ratio is currently 76.45%.
Wall Street Analysts Forecast Growth
Several research firms have weighed in on NTES. Bank of America boosted their target price on shares of NetEase from $120.00 to $122.00 and gave the company a "buy" rating in a research note on Wednesday, January 15th. Barclays raised their target price on shares of NetEase from $82.00 to $104.00 and gave the stock an "equal weight" rating in a report on Monday, February 24th. Morgan Stanley upped their target price on NetEase from $108.00 to $117.00 and gave the company an "overweight" rating in a report on Wednesday, February 12th. Finally, Benchmark increased their price target on NetEase from $105.00 to $115.00 and gave the stock a "buy" rating in a research report on Friday, February 21st. One equities research analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, NetEase currently has a consensus rating of "Moderate Buy" and an average price target of $114.57.
Get Our Latest Analysis 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.
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