Wellington Management Group LLP reduced its position in NetEase, Inc. (NASDAQ:NTES - Free Report) by 7.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 939,518 shares of the technology company's stock after selling 80,695 shares during the quarter. Wellington Management Group LLP owned 0.15% of NetEase worth $83,814,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Greenwoods Asset Management Hong Kong Ltd. raised its holdings in shares of NetEase by 10.8% in the fourth 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 acquiring an additional 354,273 shares in the last quarter. Arrowstreet Capital Limited Partnership grew its stake in NetEase by 2.8% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 2,016,465 shares of the technology company's stock valued at $179,889,000 after purchasing an additional 54,899 shares during the last quarter. Mawer Investment Management Ltd. purchased a new position in NetEase in the fourth quarter valued at about $62,593,000. Davis Selected Advisers purchased a new position in NetEase in the fourth quarter valued at about $53,287,000. Finally, American Century Companies Inc. grew its stake in NetEase by 6.4% in the fourth quarter. American Century Companies Inc. now owns 568,454 shares of the technology company's stock valued at $50,712,000 after purchasing an additional 34,255 shares during the last quarter. 11.07% of the stock is currently owned by institutional investors.
NetEase Price Performance
Shares of NASDAQ NTES traded up $0.96 during midday trading on Thursday, hitting $94.72. 425,997 shares of the company's stock were exchanged, compared to its average volume of 1,607,473. The company has a market cap of $60.83 billion, a PE ratio of 14.91, a P/E/G 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 firm's fifty day simple moving average is $101.36 and its 200-day simple moving average is $93.99.
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, topping analysts' consensus estimates of $1.73 by $0.14. The company had revenue of $3.66 billion during the quarter, compared to the consensus estimate of $27.16 billion. NetEase had a net margin of 28.17% and a return on equity of 22.12%. Equities analysts anticipate that NetEase, Inc. will post 6.91 EPS for the current fiscal year.
NetEase Announces Dividend
The company also recently disclosed 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 was Thursday, March 6th. This represents a $1.74 dividend on an annualized basis and a yield of 1.84%. NetEase's payout ratio is currently 76.45%.
Analysts Set New Price Targets
Several equities analysts have issued reports on the company. Bank of America lifted their target price on NetEase from $120.00 to $122.00 and gave the company a "buy" rating in a research note on Wednesday, January 15th. Barclays upped their target price on NetEase from $82.00 to $104.00 and gave the company an "equal weight" rating in a research report on Monday, February 24th. Benchmark boosted their price target on NetEase from $105.00 to $115.00 and gave the company a "buy" rating in a report on Friday, February 21st. Finally, Morgan Stanley boosted their price target on NetEase from $108.00 to $117.00 and gave the company an "overweight" rating in a report on Wednesday, February 12th. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, NetEase has a consensus rating of "Moderate Buy" and an average target price of $114.57.
View 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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