Broad Peak Investment Advisers Pte Ltd Trims Stake in NetEase, Inc. (NASDAQ:NTES)

Broad Peak Investment Advisers Pte Ltd cut its stake in shares of NetEase, Inc. (NASDAQ:NTES) by 11.3% in the fourth quarter, Holdings Channel reports. The firm owned 297,262 shares of the technology company’s stock after selling 37,738 shares during the quarter. NetEase accounts for approximately 13.4% of Broad Peak Investment Advisers Pte Ltd’s holdings, making the stock its 3rd biggest holding. Broad Peak Investment Advisers Pte Ltd’s holdings in NetEase were worth $26,519,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. UMB Bank n.a. boosted its position in shares of NetEase by 33.3% during the fourth quarter. UMB Bank n.a. now owns 444 shares of the technology company’s stock worth $40,000 after purchasing an additional 111 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. lifted its holdings 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 worth $641,000 after acquiring an additional 114 shares in the last quarter. Brighton Jones LLC grew its stake in NetEase by 1.1% in the fourth quarter. Brighton Jones LLC now owns 10,297 shares of the technology company’s stock valued at $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% during the fourth quarter. Farther Finance Advisors LLC now owns 338 shares of the technology company’s stock worth $30,000 after purchasing an additional 152 shares during the period. Finally, State Street Corp raised its position in shares of NetEase by 0.3% during the third quarter. State Street Corp now owns 56,729 shares of the technology company’s stock worth $5,305,000 after purchasing an additional 156 shares during the period. Institutional investors and hedge funds own 11.07% of the company’s stock.

Wall Street Analyst Weigh In

NTES has been the subject of several research analyst reports. Barclays boosted their price objective 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 increased their price objective on shares of NetEase from $105.00 to $115.00 and gave the stock a “buy” rating in a research report on Friday, February 21st. Morgan Stanley boosted their price objective on shares of NetEase from $108.00 to $117.00 and gave the company an “overweight” rating in a research report on Wednesday, February 12th. StockNews.com cut NetEase from a “strong-buy” rating to a “buy” rating in a report on Friday, December 6th. Finally, Bank of America boosted their price target on NetEase from $120.00 to $122.00 and gave the company a “buy” rating in a report on Wednesday, January 15th. One analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat, NetEase has an average rating of “Moderate Buy” and a consensus target price of $114.57.

NetEase Price Performance

NetEase stock opened at $99.97 on Friday. The company’s 50-day moving average is $101.74 and its 200-day moving average is $91.69. The firm has a market capitalization of $64.20 billion, a PE ratio of 15.69, a P/E/G ratio of 3.37 and a beta of 0.61. NetEase, Inc. has a fifty-two week low of $75.85 and a fifty-two week high of $110.15.

NetEase (NASDAQ:NTES) last released its quarterly earnings data on Thursday, February 20th. The technology company reported $1.87 earnings per share (EPS) for the quarter, beating 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 for the quarter, compared to analyst estimates of $27.16 billion. As a group, analysts expect that NetEase, Inc. will post 6.91 EPS for the current year.

NetEase Announces Dividend

The business 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 of this dividend was Thursday, March 6th. This represents a $1.74 dividend on an annualized basis and a yield of 1.74%. NetEase’s dividend payout ratio (DPR) is 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.