LPL Financial LLC lifted its stake in shares of NetEase, Inc. (NASDAQ:NTES - Free Report) by 34.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 23,688 shares of the technology company's stock after acquiring an additional 6,122 shares during the quarter. LPL Financial LLC's holdings in NetEase were worth $2,113,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. UMB Bank n.a. lifted its position in shares of NetEase by 33.3% in the 4th quarter. UMB Bank n.a. now owns 444 shares of the technology company's stock worth $40,000 after purchasing an additional 111 shares during the period. Sumitomo Mitsui Trust Group Inc. boosted its position in NetEase by 1.6% during the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 7,190 shares of the technology company's stock valued at $641,000 after acquiring an additional 114 shares during the last quarter. Brighton Jones LLC grew its holdings in NetEase by 1.1% during the 4th quarter. Brighton Jones LLC now owns 10,297 shares of the technology company's stock worth $919,000 after acquiring an additional 117 shares during the period. Farther Finance Advisors LLC raised its position in shares of NetEase by 81.7% in the 4th quarter. Farther Finance Advisors LLC now owns 338 shares of the technology company's stock worth $30,000 after acquiring an additional 152 shares in the last quarter. Finally, State Street Corp boosted its position 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 in the last quarter. 11.07% of the stock is owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
NTES has been the topic of a number of research analyst reports. Bank of America increased their price target on NetEase from $120.00 to $122.00 and gave the stock a "buy" rating in a report on Wednesday, January 15th. Morgan Stanley upped their price objective on shares of NetEase from $108.00 to $117.00 and gave the company an "overweight" rating in a report on Wednesday, February 12th. Benchmark boosted their target price 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 boosted their price objective on NetEase from $82.00 to $104.00 and gave the company an "equal weight" rating in a report on Monday, February 24th. One research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company's stock. According to data from MarketBeat, NetEase currently has a consensus rating of "Moderate Buy" and an average target price of $114.57.
Get Our Latest Analysis on NTES
NetEase Price Performance
Shares of NTES stock traded up $1.32 during trading hours on Friday, reaching $98.73. The company had a trading volume of 1,353,037 shares, compared to its average volume of 1,605,825. The business has a fifty day simple moving average of $100.60 and a 200-day simple moving average of $94.22. NetEase, Inc. has a 12 month low of $75.85 and a 12 month high of $110.15. The company has a market cap of $63.40 billion, a price-to-earnings ratio of 15.50, a price-to-earnings-growth ratio of 3.37 and a beta of 0.65.
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 analysts' consensus estimates of $1.73 by $0.14. NetEase had a net margin of 28.17% and a return on equity of 22.12%. The firm had revenue of $3.66 billion for the quarter, compared to the consensus estimate of $27.16 billion. On average, equities research analysts expect that NetEase, Inc. will post 6.91 earnings per share for the current year.
NetEase Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Thursday, March 6th were given a dividend of $0.435 per share. The ex-dividend date of this dividend 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%.
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.
See Also
Before you consider NetEase, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and NetEase wasn't on the list.
While NetEase currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Wondering what the next stocks will be that hit it big, with solid fundamentals? Enter your email address to see which stocks MarketBeat analysts could become the next blockbuster growth stocks.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
