FIL Ltd raised its stake in shares of NetEase, Inc. (NASDAQ:NTES - Free Report) by 160.2% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,668,359 shares of the technology company's stock after purchasing an additional 1,027,102 shares during the period. FIL Ltd owned 0.26% of NetEase worth $148,834,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors have also added to or reduced their stakes in the company. Invesco Ltd. lifted its stake in shares of NetEase by 88.0% in the 4th quarter. Invesco Ltd. now owns 2,365,464 shares of the technology company's stock valued at $211,023,000 after purchasing an additional 1,107,363 shares during the last quarter. Bank of Montreal Can purchased a new stake in NetEase in the fourth quarter worth $3,316,000. Cerity Partners LLC lifted its holdings in NetEase by 5.8% during the 4th quarter. Cerity Partners LLC now owns 5,837 shares of the technology company's stock valued at $529,000 after buying an additional 318 shares in the last quarter. Russell Investments Group Ltd. raised its stake in shares of NetEase by 297.2% during the fourth 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. Finally, Resolute Advisors LLC lifted its holdings in shares of NetEase by 26.4% in the 4th quarter. Resolute Advisors LLC now owns 5,833 shares of the technology company's stock worth $520,000 after buying an additional 1,218 shares during the period. Hedge funds and other institutional investors own 11.07% of the company's stock.
NetEase Stock Performance
Shares of NetEase stock traded up $0.10 on Monday, hitting $99.45. The company's stock had a trading volume of 631,276 shares, compared to its average volume of 1,505,542. The company has a market capitalization of $63.86 billion, a price-to-earnings ratio of 15.61, a price-to-earnings-growth ratio of 3.37 and a beta of 0.65. NetEase, Inc. has a 1 year low of $75.85 and a 1 year high of $110.15. The firm has a fifty day moving average price of $101.13 and a 200-day moving average price of $94.15.
NetEase (NASDAQ:NTES - Get Free Report) last posted 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 company had revenue of $3.66 billion for the quarter, compared to analysts' expectations of $27.16 billion. NetEase had a return on equity of 22.12% and a net margin of 28.17%. As a group, analysts forecast that NetEase, Inc. will post 6.91 EPS for the current year.
NetEase Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Thursday, March 6th were issued a $0.435 dividend. This represents a $1.74 annualized dividend and a yield of 1.75%. The ex-dividend date of this dividend was Thursday, March 6th. NetEase's payout ratio is currently 76.45%.
Wall Street Analysts Forecast Growth
A number of equities analysts have recently issued reports on the stock. Barclays increased their price objective on shares of NetEase from $82.00 to $104.00 and gave the company an "equal weight" rating in a research note on Monday, February 24th. Morgan Stanley raised their price target on NetEase from $108.00 to $117.00 and gave the stock an "overweight" rating in a report on Wednesday, February 12th. Benchmark upped their price objective on shares of NetEase from $105.00 to $115.00 and gave the company a "buy" rating in a report on Friday, February 21st. Finally, Bank of America boosted their price objective on shares of NetEase from $120.00 to $122.00 and gave the company a "buy" rating in a report on Wednesday, January 15th. One research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $114.57.
Check Out Our Latest Report 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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