Mackenzie Financial Corp Trims Stock Position in NetEase, Inc. (NASDAQ:NTES)

Mackenzie Financial Corp lessened its position in shares of NetEase, Inc. (NASDAQ:NTES) by 71.6% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 14,261 shares of the technology company’s stock after selling 35,949 shares during the quarter. Mackenzie Financial Corp’s holdings in NetEase were worth $1,329,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. WT Asset Management Ltd raised its position in shares of NetEase by 381.1% during the 4th quarter. WT Asset Management Ltd now owns 996,686 shares of the technology company’s stock valued at $92,851,000 after buying an additional 789,499 shares during the period. Assenagon Asset Management S.A. increased its holdings in NetEase by 451.3% in the 4th quarter. Assenagon Asset Management S.A. now owns 511,454 shares of the technology company’s stock valued at $47,647,000 after purchasing an additional 418,677 shares during the last quarter. American Century Companies Inc. increased its holdings in NetEase by 14.8% in the 3rd quarter. American Century Companies Inc. now owns 390,322 shares of the technology company’s stock valued at $39,095,000 after purchasing an additional 50,461 shares during the last quarter. Ariose Capital Management Ltd increased its holdings in NetEase by 8.2% in the 3rd quarter. Ariose Capital Management Ltd now owns 328,641 shares of the technology company’s stock valued at $32,917,000 after purchasing an additional 24,971 shares during the last quarter. Finally, Todd Asset Management LLC increased its holdings in NetEase by 22.1% in the 3rd quarter. Todd Asset Management LLC now owns 294,555 shares of the technology company’s stock valued at $29,503,000 after purchasing an additional 53,310 shares during the last quarter. Hedge funds and other institutional investors own 11.07% of the company’s stock.

NetEase Price Performance

Shares of NTES opened at $94.02 on Thursday. NetEase, Inc. has a 1-year low of $80.79 and a 1-year high of $118.89. The stock has a market cap of $60.62 billion, a PE ratio of 14.85, a price-to-earnings-growth ratio of 0.86 and a beta of 0.58. The firm has a fifty day moving average price of $102.78 and a 200 day moving average price of $103.09.

NetEase (NASDAQ:NTES) last announced its quarterly earnings results on Thursday, February 29th. The technology company reported $1.42 earnings per share for the quarter, missing analysts’ consensus estimates of $1.62 by ($0.20). NetEase had a net margin of 28.39% and a return on equity of 24.36%. The company had revenue of $3.82 billion during the quarter, compared to analysts’ expectations of $3.96 billion. As a group, equities analysts expect that NetEase, Inc. will post 7.04 EPS for the current fiscal year.

NetEase Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Thursday, March 14th were issued a $1.08 dividend. This represents a $4.32 dividend on an annualized basis and a dividend yield of 4.59%. This is a boost from NetEase’s previous quarterly dividend of $0.50. The ex-dividend date was Wednesday, March 13th. NetEase’s dividend payout ratio is presently 68.09%.

Analyst Ratings Changes

Several equities analysts have commented on NTES shares. StockNews.com upgraded shares of NetEase from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, March 26th. Morgan Stanley dropped their price target on shares of NetEase from $135.00 to $120.00 and set an “overweight” rating for the company in a research note on Friday, April 12th. Finally, HSBC dropped their price target on shares of NetEase from $130.00 to $126.00 and set a “buy” rating for the company in a research note on Wednesday. Seven analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $126.00.

NetEase 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.