ETF Managers Group LLC cut its position in shares of NetEase Inc (NASDAQ:NTES) by 8.8% during the 1st quarter, Holdings Channel reports. The firm owned 3,322 shares of the technology company’s stock after selling 322 shares during the period. ETF Managers Group LLC’s holdings in NetEase were worth $802,000 at the end of the most recent reporting period.
Several other institutional investors have also recently made changes to their positions in NTES. Vanguard Group Inc lifted its stake in NetEase by 1.7% in the third quarter. Vanguard Group Inc now owns 2,562,086 shares of the technology company’s stock valued at $584,796,000 after acquiring an additional 43,455 shares during the last quarter. Handelsinvest Investeringsforvaltning lifted its stake in NetEase by 166.0% in the fourth quarter. Handelsinvest Investeringsforvaltning now owns 17,254 shares of the technology company’s stock valued at $4,061,000 after acquiring an additional 10,768 shares during the last quarter. Lavaca Capital LLC acquired a new stake in NetEase in the fourth quarter valued at approximately $62,000. Fisher Asset Management LLC lifted its stake in NetEase by 2.0% in the fourth quarter. Fisher Asset Management LLC now owns 877,033 shares of the technology company’s stock valued at $206,427,000 after acquiring an additional 16,907 shares during the last quarter. Finally, State of New Jersey Common Pension Fund D lifted its stake in NetEase by 7.2% in the fourth quarter. State of New Jersey Common Pension Fund D now owns 90,978 shares of the technology company’s stock valued at $21,414,000 after acquiring an additional 6,100 shares during the last quarter. Hedge funds and other institutional investors own 44.96% of the company’s stock.
A number of research firms have issued reports on NTES. Benchmark reiterated a “buy” rating and issued a $305.00 target price (up from $295.00) on shares of NetEase in a research note on Thursday, May 16th. China Renaissance Securities upgraded shares of NetEase from a “hold” rating to a “buy” rating in a research note on Thursday, May 16th. Zacks Investment Research raised shares of NetEase from a “sell” rating to a “hold” rating and set a $311.00 price target on the stock in a research report on Wednesday, April 24th. BidaskClub raised shares of NetEase from a “buy” rating to a “strong-buy” rating in a research report on Friday, April 5th. Finally, ValuEngine raised shares of NetEase from a “hold” rating to a “buy” rating in a research report on Thursday, April 4th. Three research analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $280.45.
NetEase (NASDAQ:NTES) last released its quarterly earnings results on Wednesday, May 15th. The technology company reported $2.75 EPS for the quarter, beating the Zacks’ consensus estimate of $1.86 by $0.89. NetEase had a net margin of 10.94% and a return on equity of 17.46%. The company had revenue of $2.74 billion for the quarter, compared to analyst estimates of $2.73 billion. During the same quarter last year, the firm posted $1.59 earnings per share. The company’s quarterly revenue was up 23.0% compared to the same quarter last year. On average, sell-side analysts forecast that NetEase Inc will post 7.33 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, June 7th. Stockholders of record on Friday, May 31st will be given a $0.69 dividend. This is a positive change from NetEase’s previous quarterly dividend of $0.48. The ex-dividend date of this dividend is Thursday, May 30th. This represents a $2.76 dividend on an annualized basis and a dividend yield of 1.05%. NetEase’s dividend payout ratio (DPR) is currently 27.80%.
NetEase, Inc operates an interactive online community in the People's Republic of China. The company operates in four segments: Online Games Services, E-Commerce, Advertising Services, and Innovative Businesses and Other Services. It offers various games in a range of genres through mobile devices and PCs, including role-playing games, MMORPGs, battle arena games, simulation games, collectible card games, first-person shooter games, sandbox games, and other types of games to the Chinese market.
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