Mitsubishi UFJ Trust & Banking Corp reduced its position in NetEase, Inc. (NASDAQ:NTES) by 8.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 500,135 shares of the technology company’s stock after selling 43,658 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp owned 0.08% of NetEase worth $51,465,000 as of its most recent SEC filing.
Several other hedge funds have also recently added to or reduced their stakes in the stock. Bank Julius Baer & Co. Ltd Zurich purchased a new position in NetEase in the first quarter valued at about $27,000. Regent Peak Wealth Advisors LLC purchased a new stake in shares of NetEase during the fourth quarter worth about $26,000. Alpha DNA Investment Management LLC purchased a new stake in shares of NetEase during the fourth quarter worth about $28,000. Cullen Frost Bankers Inc. grew its stake in shares of NetEase by 400.0% during the fourth quarter. Cullen Frost Bankers Inc. now owns 455 shares of the technology company’s stock worth $44,000 after acquiring an additional 364 shares during the last quarter. Finally, Steward Partners Investment Advisory LLC grew its stake in shares of NetEase by 1,937.5% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 489 shares of the technology company’s stock worth $47,000 after acquiring an additional 465 shares during the last quarter. Hedge funds and other institutional investors own 35.23% of the company’s stock.
A number of equities research analysts have recently weighed in on NTES shares. CLSA dropped their price target on NetEase from $159.00 to $134.00 and set a “buy” rating on the stock in a research note on Wednesday, May 19th. Macquarie dropped their price target on NetEase from $124.00 to $118.00 and set an “in-line” rating on the stock in a research note on Wednesday, May 19th. Barclays boosted their price target on NetEase from $110.00 to $155.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 16th. UBS Group boosted their price target on NetEase from $133.00 to $139.00 and gave the stock a “buy” rating in a research note on Wednesday, May 19th. Finally, Zacks Investment Research raised NetEase from a “sell” rating to a “hold” rating in a report on Friday, May 21st. Two investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $119.33.
NetEase (NASDAQ:NTES) last announced its quarterly earnings results on Tuesday, May 18th. The technology company reported $7.47 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.78 by $6.69. NetEase had a return on equity of 15.15% and a net margin of 16.83%. The company had revenue of $20.52 billion during the quarter, compared to the consensus estimate of $20.10 billion. During the same period in the previous year, the company posted $32.17 earnings per share. NetEase’s revenue for the quarter was up 20.2% on a year-over-year basis. As a group, equities analysts expect that NetEase, Inc. will post 3.62 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, June 18th. Shareholders of record on Thursday, June 3rd will be issued a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a yield of 0.21%. The ex-dividend date of this dividend is Wednesday, June 2nd. NetEase’s payout ratio is presently 43.12%.
NetEase Company Profile
NetEase, Inc provides online services focusing on gaming, communication, and commerce in the Peoples' Republic of China and internationally. The company operates in three segments: Online Games Services, Youdao, and Innovative Businesses and Others. It develops and operates PC and mobile games, as well as offers games licensed from other game developers.
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