Highstreet Asset Management Inc. grew its holdings in NetEase Inc (NASDAQ:NTES) by 57.6% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,546 shares of the technology company’s stock after acquiring an additional 565 shares during the quarter. Highstreet Asset Management Inc.’s holdings in NetEase were worth $353,000 at the end of the most recent reporting period.
Several other institutional investors have also made changes to their positions in NTES. Tower Research Capital LLC TRC bought a new position in shares of NetEase during the second quarter worth about $108,000. Northwestern Mutual Wealth Management Co. grew its holdings in shares of NetEase by 96.6% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 462 shares of the technology company’s stock worth $117,000 after buying an additional 227 shares in the last quarter. Flagship Harbor Advisors LLC bought a new position in shares of NetEase during the second quarter worth about $167,000. Guinness Asset Management Ltd grew its holdings in shares of NetEase by 59.1% during the third quarter. Guinness Asset Management Ltd now owns 861 shares of the technology company’s stock worth $196,000 after buying an additional 320 shares in the last quarter. Finally, Ridgewood Investments LLC bought a new position in shares of NetEase during the third quarter worth about $314,000. Institutional investors own 45.30% of the company’s stock.
Shares of NASDAQ NTES opened at $231.39 on Friday. NetEase Inc has a 52 week low of $184.60 and a 52 week high of $377.64. The company has a market cap of $28.13 billion, a P/E ratio of 18.65, a P/E/G ratio of 1.39 and a beta of 0.96.
NetEase (NASDAQ:NTES) last issued its quarterly earnings results on Wednesday, November 14th. The technology company reported $1.80 EPS for the quarter, missing the consensus estimate of $2.10 by ($0.30). NetEase had a net margin of 11.49% and a return on equity of 14.57%. The company had revenue of $2.45 billion for the quarter, compared to analyst estimates of $2.42 billion. During the same period last year, the company posted $3.43 earnings per share. The business’s revenue for the quarter was up 30.9% on a year-over-year basis. Equities analysts predict that NetEase Inc will post 7.34 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, December 7th. Investors of record on Friday, November 30th will be given a dividend of $0.45 per share. The ex-dividend date is Thursday, November 29th. This represents a $1.80 annualized dividend and a yield of 0.78%. NetEase’s dividend payout ratio (DPR) is presently 19.58%.
NTES has been the subject of a number of research reports. Barclays reiterated a “hold” rating and set a $275.00 price objective (up from $255.00) on shares of NetEase in a report on Saturday, July 28th. Macquarie downgraded NetEase from an “outperform” rating to a “neutral” rating in a report on Thursday, August 9th. JPMorgan Chase & Co. decreased their price objective on NetEase from $290.00 to $265.00 and set an “overweight” rating for the company in a report on Friday, August 10th. Nomura reduced their price target on NetEase from $386.00 to $352.00 and set a “buy” rating for the company in a research report on Friday, August 10th. Finally, ValuEngine cut NetEase from a “sell” rating to a “strong sell” rating in a research report on Friday, August 10th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating, eleven have given a buy rating and two have assigned a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $308.46.
NetEase, Inc operates an interactive online community in the People's Republic of China. The company operates through Online Game Services; E-Commerce; Advertising Services; and Email and Others segments. 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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