Long Corridor Asset Management Ltd purchased a new stake in shares of NetEase, Inc. (NASDAQ:NTES - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 40,000 shares of the technology company's stock, valued at approximately $3,568,000. NetEase comprises 2.7% of Long Corridor Asset Management Ltd's portfolio, making the stock its 12th biggest position.
A number of other hedge funds have also bought and sold shares of the business. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in NetEase by 13,747.9% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 6,258,442 shares of the technology company's stock valued at $585,227,000 after purchasing an additional 6,213,248 shares during the last quarter. Greenwoods Asset Management Hong Kong Ltd. lifted its position in shares of NetEase by 10.8% during the 4th quarter. Greenwoods Asset Management Hong Kong Ltd. now owns 3,632,870 shares of the technology company's stock valued at $324,088,000 after buying an additional 354,273 shares during the last quarter. Hhlr Advisors LTD. lifted its position in shares of NetEase by 86.8% during the 3rd quarter. Hhlr Advisors LTD. now owns 2,588,943 shares of the technology company's stock valued at $242,092,000 after buying an additional 1,203,129 shares during the last quarter. Fisher Asset Management LLC boosted its position in NetEase by 7.8% during the third quarter. Fisher Asset Management LLC now owns 1,145,657 shares of the technology company's stock worth $107,130,000 after purchasing an additional 82,474 shares during the period. Finally, Wellington Management Group LLP increased its stake in shares of NetEase by 1.1% in the third quarter. Wellington Management Group LLP now owns 1,020,213 shares of the technology company's stock worth $95,400,000 after purchasing an additional 10,920 shares in the last quarter. 11.07% of the stock is currently owned by institutional investors.
NetEase Trading Down 1.0 %
Shares of NTES traded down $1.05 during midday trading on Friday, reaching $100.71. The stock had a trading volume of 436,582 shares, compared to its average volume of 1,586,184. The company has a market capitalization of $64.67 billion, a price-to-earnings ratio of 15.80, a price-to-earnings-growth ratio of 3.37 and a beta of 0.61. The company's 50-day moving average is $102.03 and its 200 day moving average is $92.42. NetEase, Inc. has a 12-month low of $75.85 and a 12-month high of $110.15.
NetEase (NASDAQ:NTES - Get Free Report) last issued its quarterly earnings results on Thursday, February 20th. The technology company reported $1.87 EPS for the quarter, beating analysts' consensus estimates of $1.73 by $0.14. The business had revenue of $3.66 billion for the quarter, compared to analysts' expectations of $27.16 billion. NetEase had a net margin of 28.17% and a return on equity of 22.12%. Research analysts forecast that NetEase, Inc. will post 6.91 EPS for the current fiscal year.
NetEase Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Thursday, March 6th were given a $0.435 dividend. This represents a $1.74 dividend on an annualized basis and a yield of 1.73%. The ex-dividend date of this dividend was Thursday, March 6th. NetEase's payout ratio is presently 76.45%.
Analysts Set New Price Targets
Several research analysts recently commented on the stock. Morgan Stanley raised their price objective on shares of NetEase from $108.00 to $117.00 and gave the stock an "overweight" rating in a report on Wednesday, February 12th. Bank of America lifted their price target on NetEase from $120.00 to $122.00 and gave the company a "buy" rating in a research report on Wednesday, January 15th. StockNews.com downgraded NetEase from a "strong-buy" rating to a "buy" rating in a research note on Friday, December 6th. Benchmark upped their price target on NetEase from $105.00 to $115.00 and gave the company a "buy" rating in a research report on Friday, February 21st. Finally, Barclays raised their price objective on shares of NetEase from $82.00 to $104.00 and gave the company an "equal weight" rating in a research report on Monday, February 24th. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. According to data from MarketBeat, NetEase currently has an average rating of "Moderate Buy" and a consensus price target of $114.57.
Check Out Our Latest Research 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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