Bank of Montreal Can purchased a new stake in 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 (SEC). The institutional investor purchased 37,169 shares of the technology company's stock, valued at approximately $3,316,000.
Other institutional investors and hedge funds also recently modified their holdings of the company. Cerity Partners LLC lifted its position in shares of NetEase by 5.8% in the fourth quarter. Cerity Partners LLC now owns 5,837 shares of the technology company's stock worth $529,000 after purchasing an additional 318 shares in the last quarter. Russell Investments Group Ltd. grew its holdings in shares of NetEase by 297.2% during the 4th quarter. Russell Investments Group Ltd. now owns 316,770 shares of the technology company's stock valued at $28,259,000 after acquiring an additional 237,028 shares in the last quarter. Resolute Advisors LLC increased its stake in shares of NetEase by 26.4% in the fourth quarter. Resolute Advisors LLC now owns 5,833 shares of the technology company's stock worth $520,000 after acquiring an additional 1,218 shares during the last quarter. Pitcairn Co. raised its holdings in shares of NetEase by 62.3% during the fourth quarter. Pitcairn Co. now owns 8,026 shares of the technology company's stock worth $716,000 after acquiring an additional 3,082 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA boosted its position in NetEase by 6.1% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 1,766,327 shares of the technology company's stock valued at $157,574,000 after purchasing an additional 100,922 shares during the last quarter. Institutional investors and hedge funds own 11.07% of the company's stock.
NetEase Trading Up 1.4 %
Shares of NetEase stock traded up $1.32 during trading on Friday, reaching $98.73. The stock had a trading volume of 1,353,037 shares, compared to its average volume of 1,606,011. NetEase, Inc. has a 52 week low of $75.85 and a 52 week high of $110.15. The company has a market capitalization of $63.40 billion, a price-to-earnings ratio of 15.50, a P/E/G ratio of 3.37 and a beta of 0.65. The stock has a fifty day moving average price of $100.60 and a two-hundred day moving average price of $94.29.
NetEase (NASDAQ:NTES - Get Free Report) last posted its quarterly earnings results on Thursday, February 20th. The technology company reported $1.87 earnings per share for the quarter, beating analysts' consensus estimates of $1.73 by $0.14. NetEase had a return on equity of 22.12% and a net margin of 28.17%. The business had revenue of $3.66 billion for the quarter, compared to analysts' expectations of $27.16 billion. On average, equities analysts forecast that NetEase, Inc. will post 6.91 EPS for the current fiscal year.
NetEase Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Thursday, March 6th were given 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 1.76%. NetEase's dividend payout ratio is currently 76.45%.
Analyst Ratings Changes
Several research firms recently issued reports on NTES. Morgan Stanley lifted their price objective on shares of NetEase from $108.00 to $117.00 and gave the company an "overweight" rating in a research note on Wednesday, February 12th. Barclays lifted 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. Bank of America upped their price target on shares of NetEase from $120.00 to $122.00 and gave the company a "buy" rating in a report on Wednesday, January 15th. Finally, Benchmark boosted their price objective on NetEase from $105.00 to $115.00 and gave the stock a "buy" rating in a research report on Friday, February 21st. One research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, NetEase currently has an average rating of "Moderate Buy" and a consensus price target of $114.57.
Read Our Latest Stock Report on NTES
NetEase Profile
(
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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