Price T Rowe Associates Inc. MD Buys 135,180 Shares of NetEase, Inc. (NASDAQ:NTES)

Price T Rowe Associates Inc. MD raised its position in shares of NetEase, Inc. (NASDAQ:NTES - Free Report) by 11.8% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,280,643 shares of the technology company's stock after acquiring an additional 135,180 shares during the quarter. Price T Rowe Associates Inc. MD owned approximately 0.20% of NetEase worth $114,247,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the company. Farther Finance Advisors LLC boosted its position in shares of NetEase by 81.7% during the fourth quarter. Farther Finance Advisors LLC now owns 338 shares of the technology company's stock valued at $30,000 after purchasing an additional 152 shares in the last quarter. Brooklyn Investment Group purchased a new position in NetEase during the fourth quarter valued at $34,000. UMB Bank n.a. boosted its holdings in shares of NetEase by 33.3% during the 4th quarter. UMB Bank n.a. now owns 444 shares of the technology company's stock valued at $40,000 after buying an additional 111 shares in the last quarter. Live Oak Investment Partners purchased a new stake in shares of NetEase in the 4th quarter worth about $62,000. Finally, Avior Wealth Management LLC increased its stake in shares of NetEase by 148.9% in the 4th quarter. Avior Wealth Management LLC now owns 993 shares of the technology company's stock worth $89,000 after acquiring an additional 594 shares in the last quarter. Hedge funds and other institutional investors own 11.07% of the company's stock.

Analyst Upgrades and Downgrades

NTES has been the topic of a number of recent research reports. Bank of America upped their price objective 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 upped their price target on NetEase from $108.00 to $117.00 and gave the stock an "overweight" rating in a research note on Wednesday, February 12th. Barclays lifted their price objective on NetEase from $82.00 to $104.00 and gave the company an "equal weight" rating in a research note on Monday, February 24th. Finally, Benchmark increased their target price on NetEase from $105.00 to $115.00 and gave the stock a "buy" rating in a research note on Friday, February 21st. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $112.67.

NetEase Stock Down 0.0 %

Shares of NASDAQ NTES opened at $105.86 on Monday. The firm has a market cap of $67.98 billion, a P/E ratio of 16.62, a PEG ratio of 3.37 and a beta of 0.65. NetEase, Inc. has a twelve month low of $75.85 and a twelve month high of $110.15. The company has a 50 day moving average of $100.43 and a 200 day moving average of $94.48.

NetEase (NASDAQ:NTES - Get Free Report) last posted its quarterly earnings results on Thursday, February 20th. The technology company reported $1.87 earnings per share for the quarter, topping the consensus estimate of $1.73 by $0.14. NetEase had a return on equity of 22.12% and a net margin of 28.17%. The firm had revenue of $3.66 billion during the quarter, compared to analysts' expectations of $27.16 billion. As a group, equities analysts expect that NetEase, Inc. will post 6.91 earnings per share for the current fiscal year.

NetEase Dividend Announcement

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

NetEase Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.