NetEase, Inc. (NASDAQ:NTES) Stake Increased by Naviter Wealth LLC

Naviter Wealth LLC raised its stake in shares of NetEase, Inc. (NASDAQ:NTES) by 28.4% during the third quarter, HoldingsChannel reports. The fund owned 8,427 shares of the technology company’s stock after acquiring an additional 1,865 shares during the quarter. Naviter Wealth LLC’s holdings in NetEase were worth $788,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the stock. Nordea Investment Management AB lifted its position in shares of NetEase by 17.2% during 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 during the last quarter. Canada Pension Plan Investment Board lifted 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 buying an additional 36,000 shares during the last quarter. Lazard Asset Management LLC grew its position in shares of NetEase by 804.5% in the 1st quarter. Lazard Asset Management LLC now owns 792,357 shares of the technology company’s stock worth $81,983,000 after acquiring an additional 704,753 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of NetEase by 6.3% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 278,802 shares of the technology company’s stock valued at $28,848,000 after acquiring an additional 16,607 shares during the last quarter. Finally, Mitsubishi UFJ Trust & Banking Corp raised its position in shares of NetEase by 4.7% during the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 134,344 shares of the technology company’s stock valued at $13,261,000 after acquiring an additional 6,065 shares in the last quarter. 11.07% of the stock is owned by institutional investors and hedge funds.

NetEase Stock Down 2.6 %

NetEase stock opened at $79.73 on Friday. NetEase, Inc. has a 52-week low of $75.85 and a 52-week high of $118.89. The firm has a market capitalization of $51.20 billion, a price-to-earnings ratio of 12.36, a PEG ratio of 1.96 and a beta of 0.55. The firm has a 50-day moving average price of $85.58 and a two-hundred day moving average price of $91.18.

NetEase (NASDAQ:NTES) last issued its quarterly earnings data on Thursday, August 22nd. The technology company reported $12.05 earnings per share (EPS) 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 business had revenue of $25.49 billion during the quarter, compared to the consensus estimate of $26.01 billion. During the same period in the previous year, the firm posted $1.75 earnings per share. The business’s revenue was up 6.1% on a year-over-year basis. Research analysts expect that NetEase, Inc. will post 6.05 earnings per share for the current year.

NetEase Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 20th. Stockholders of record on Friday, September 6th were paid a $0.435 dividend. The ex-dividend date of this dividend was Friday, September 6th. This represents a $1.74 annualized dividend and a dividend yield of 2.18%. NetEase’s payout ratio is 26.82%.

Wall Street Analyst Weigh In

NTES has been the subject of a number of research reports. StockNews.com downgraded shares of NetEase from a “strong-buy” rating to a “buy” rating in a report on Saturday, July 20th. Barclays decreased their price target on shares of NetEase from $104.00 to $82.00 and set an “equal weight” rating for the company in a report on Monday, August 26th. Bank of America dropped their price objective on shares of NetEase from $142.00 to $120.00 and set a “buy” rating on the stock in a research note on Friday, August 23rd. Jefferies Financial Group decreased their target price on NetEase from $126.00 to $103.00 and set a “buy” rating for the company in a research note on Thursday, August 22nd. Finally, Morgan Stanley reaffirmed an “equal weight” rating and set a $100.00 target price on shares of NetEase in a report on Friday, July 5th. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, NetEase currently has an average rating of “Moderate Buy” and a consensus target price of $112.67.

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.