NetEase, Inc. (NASDAQ:NTES) Shares Bought by Van ECK Associates Corp

Van ECK Associates Corp lifted its holdings in NetEase, Inc. (NASDAQ:NTES - Free Report) by 12.3% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 666,411 shares of the technology company's stock after buying an additional 72,988 shares during the quarter. Van ECK Associates Corp owned approximately 0.10% of NetEase worth $62,316,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of NTES. Nordea Investment Management AB grew its stake in NetEase by 17.2% in the first quarter. Nordea Investment Management AB now owns 318,550 shares of the technology company's stock worth $33,059,000 after purchasing an additional 46,635 shares in the last quarter. Canada Pension Plan Investment Board increased its holdings in NetEase by 12.4% during the 1st quarter. Canada Pension Plan Investment Board now owns 327,400 shares of the technology company's stock worth $33,876,000 after purchasing an additional 36,000 shares during the period. Lazard Asset Management LLC increased its holdings in NetEase by 804.5% during the 1st quarter. Lazard Asset Management LLC now owns 792,357 shares of the technology company's stock worth $81,983,000 after purchasing an additional 704,753 shares during the period. Mitsubishi UFJ Trust & Banking Corp increased its holdings in NetEase by 4.7% during the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 134,344 shares of the technology company's stock worth $13,261,000 after purchasing an additional 6,065 shares during the period. Finally, Guinness Asset Management LTD increased its holdings in NetEase by 16.7% during the 3rd quarter. Guinness Asset Management LTD now owns 86,741 shares of the technology company's stock worth $8,111,000 after purchasing an additional 12,410 shares during the period. 11.07% of the stock is currently owned by hedge funds and other institutional investors.

NetEase Stock Performance

NTES stock traded down $0.08 on Monday, hitting $79.04. 1,357,792 shares of the company's stock were exchanged, compared to its average volume of 1,736,713. NetEase, Inc. has a 12-month low of $75.85 and a 12-month high of $118.89. The firm has a 50 day moving average price of $83.79 and a two-hundred day moving average price of $89.95. The stock has a market cap of $50.76 billion, a P/E ratio of 12.89, a price-to-earnings-growth ratio of 1.78 and a beta of 0.57.

NetEase (NASDAQ:NTES - Get Free Report) last announced its earnings results on Thursday, August 22nd. The technology company reported $12.05 earnings per share for the quarter, topping the consensus estimate of $1.62 by $10.43. NetEase had a return on equity of 22.30% and a net margin of 26.98%. The firm had revenue of $25.49 billion for the quarter, compared to the consensus estimate of $26.01 billion. During the same period in the previous year, the business earned $1.75 EPS. The firm's revenue for the quarter was up 6.1% on a year-over-year basis. Sell-side analysts expect that NetEase, Inc. will post 6.02 earnings per share for the current fiscal year.

NetEase Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, September 20th. Shareholders of record on Friday, September 6th were given a dividend of $0.435 per share. The ex-dividend date of this dividend was Friday, September 6th. This represents a $1.74 dividend on an annualized basis and a yield of 2.20%. NetEase's dividend payout ratio is currently 28.22%.

Wall Street Analysts Forecast Growth

NTES has been the topic of several research reports. Jefferies Financial Group reduced their price objective on NetEase from $126.00 to $103.00 and set a "buy" rating on the stock in a report on Thursday, August 22nd. Barclays cut their price target on NetEase from $104.00 to $82.00 and set an "equal weight" rating on the stock in a report on Monday, August 26th. StockNews.com downgraded NetEase from a "strong-buy" rating to a "buy" rating in a report on Saturday, July 20th. Finally, Bank of America cut their price target on NetEase from $142.00 to $120.00 and set a "buy" rating on the stock in a report on Friday, August 23rd. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $112.67.

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.