China Universal Asset Management Co. Ltd. cut its stake in shares of NetEase, Inc. (NASDAQ:NTES – Get Rating) by 77.2% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 31,463 shares of the technology company’s stock after selling 106,651 shares during the period. China Universal Asset Management Co. Ltd.’s holdings in NetEase were worth $2,822,000 as of its most recent SEC filing.
Other large investors also recently made changes to their positions in the company. Baillie Gifford & Co. grew its stake in shares of NetEase by 2.5% in the fourth quarter. Baillie Gifford & Co. now owns 258,292 shares of the technology company’s stock worth $26,289,000 after purchasing an additional 6,264 shares during the last quarter. Fisher Asset Management LLC boosted its position in NetEase by 0.3% during the fourth quarter. Fisher Asset Management LLC now owns 1,752,672 shares of the technology company’s stock valued at $178,387,000 after acquiring an additional 5,201 shares during the last quarter. Quantitative Investment Management LLC bought a new stake in NetEase during the fourth quarter valued at $970,000. WCM Investment Management LLC boosted its position in NetEase by 50.0% during the fourth quarter. WCM Investment Management LLC now owns 55,973 shares of the technology company’s stock valued at $5,697,000 after acquiring an additional 18,664 shares during the last quarter. Finally, O Shaughnessy Asset Management LLC boosted its position in NetEase by 46.5% during the fourth quarter. O Shaughnessy Asset Management LLC now owns 7,352 shares of the technology company’s stock valued at $748,000 after acquiring an additional 2,335 shares during the last quarter. Institutional investors own 21.18% of the company’s stock.
A number of brokerages have commented on NTES. StockNews.com began coverage on shares of NetEase in a research report on Thursday, March 31st. They set a “buy” rating on the stock. Macquarie began coverage on shares of NetEase in a report on Tuesday. They set an “outperform” rating and a $129.00 price objective on the stock. HSBC dropped their price objective on shares of NetEase from $126.00 to $122.00 and set a “buy” rating on the stock in a report on Wednesday, May 25th. JPMorgan Chase & Co. upgraded shares of NetEase from an “underweight” rating to an “overweight” rating and upped their price objective for the company from $60.00 to $120.00 in a report on Monday, May 16th. Finally, The Goldman Sachs Group initiated coverage on shares of NetEase in a report on Sunday, April 10th. They issued a “buy” rating and a $132.00 target price on the stock. Nine investment analysts have rated the stock with a buy rating, According to data from MarketBeat, NetEase has an average rating of “Buy” and an average price target of $128.50.
NetEase (NASDAQ:NTES – Get Rating) last released its earnings results on Tuesday, May 24th. The technology company reported $7.72 earnings per share for the quarter, beating analysts’ consensus estimates of $0.99 by $6.73. NetEase had a net margin of 18.56% and a return on equity of 18.02%. The firm had revenue of $23.56 billion during the quarter, compared to the consensus estimate of $23.12 billion. During the same period in the prior year, the firm earned $1.00 EPS. The company’s revenue was up 14.8% compared to the same quarter last year. As a group, sell-side analysts forecast that NetEase, Inc. will post 4.07 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Thursday, June 23rd. Stockholders of record on Wednesday, June 8th were given a dividend of $0.322 per share. This represents a $1.29 dividend on an annualized basis and a dividend yield of 1.40%. The ex-dividend date was Tuesday, June 7th. NetEase’s dividend payout ratio is currently 32.57%.
About NetEase (Get Rating)
NetEase, Inc provides online services focusing on diverse content, community, communication, and commerce in the Peoples' Republic of China and internationally. The company operates in three segments: Online Game Services, Youdao, Cloud Music, and Innovative Businesses and Others. It develops and operates PC and mobile games, as well as offers games licensed from other game developers.
- Get a free copy of the StockNews.com research report on NetEase (NTES)
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