Geode Capital Management LLC Grows Stock Position in NetEase, Inc. (NASDAQ:NTES)

Geode Capital Management LLC grew its holdings in shares of NetEase, Inc. (NASDAQ:NTES - Free Report) by 2.8% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 107,306 shares of the technology company's stock after purchasing an additional 2,873 shares during the quarter. Geode Capital Management LLC's holdings in NetEase were worth $9,573,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of NTES. State Street Corp raised its stake in shares of NetEase by 0.3% during the 3rd quarter. State Street Corp now owns 56,729 shares of the technology company's stock valued at $5,305,000 after purchasing an additional 156 shares during the period. MML Investors Services LLC grew its holdings in 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 buying an additional 428 shares in the last quarter. Advisory Resource Group increased its position in shares of NetEase by 22.0% during the third quarter. Advisory Resource Group now owns 12,626 shares of the technology company's stock valued at $1,181,000 after buying an additional 2,281 shares during the period. World Investment Advisors LLC purchased a new stake in shares of NetEase in the third quarter worth about $4,138,000. Finally, Franklin Resources Inc. boosted its position in shares of NetEase by 7.9% in the third quarter. Franklin Resources Inc. now owns 6,915 shares of the technology company's stock valued at $588,000 after acquiring an additional 507 shares during the period. Hedge funds and other institutional investors own 11.07% of the company's stock.

Analyst Ratings Changes

A number of research firms recently weighed in on NTES. Benchmark upped their target price on shares of NetEase from $105.00 to $115.00 and gave the stock a "buy" rating in a report on Friday, February 21st. Bank of America upped their price target on shares of NetEase from $120.00 to $122.00 and gave the stock a "buy" rating in a report on Wednesday, January 15th. Morgan Stanley lifted their price objective on NetEase from $108.00 to $117.00 and gave the company an "overweight" rating in a research note on Wednesday, February 12th. Finally, Barclays upped their target price on NetEase from $82.00 to $104.00 and gave the stock an "equal weight" rating in a research note on Monday, February 24th. One research analyst has rated the stock with a hold rating and six have given a buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $112.67.

NetEase Stock Down 0.0 %

NASDAQ:NTES traded down $0.05 during midday trading on Friday, hitting $105.86. The company had a trading volume of 712,804 shares, compared to its average volume of 1,625,684. The stock's fifty day moving average price is $100.43 and its 200-day moving average price is $94.39. 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 $67.98 billion, a PE ratio of 16.62, a P/E/G ratio of 3.37 and a beta of 0.65.

NetEase (NASDAQ:NTES - Get Free Report) last announced its quarterly earnings data on Thursday, February 20th. The technology company reported $1.87 EPS for the quarter, beating the consensus estimate of $1.73 by $0.14. The firm had revenue of $3.66 billion for the quarter, compared to analyst estimates of $27.16 billion. NetEase had a return on equity of 22.12% and a net margin of 28.17%. As a group, research analysts forecast that NetEase, Inc. will post 6.91 earnings per share for the current year.

NetEase Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Stockholders of record on Thursday, March 6th were issued a $0.435 dividend. The ex-dividend date was Thursday, March 6th. This represents a $1.74 dividend on an annualized basis and a dividend yield of 1.64%. NetEase's payout ratio is 76.45%.

About NetEase

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.