Pitcairn Co. Acquires 3,082 Shares of NetEase, Inc. (NASDAQ:NTES)

Pitcairn Co. raised its holdings in NetEase, Inc. (NASDAQ:NTES) by 62.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 8,026 shares of the technology company’s stock after acquiring an additional 3,082 shares during the quarter. Pitcairn Co.’s holdings in NetEase were worth $716,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Farther Finance Advisors LLC grew its stake in shares of NetEase by 81.7% during the fourth quarter. Farther Finance Advisors LLC now owns 338 shares of the technology company’s stock worth $30,000 after purchasing an additional 152 shares during the period. Brooklyn Investment Group acquired a new position in shares of NetEase during the 4th quarter worth about $34,000. UMB Bank n.a. increased its stake in shares of NetEase by 33.3% in the 4th quarter. UMB Bank n.a. now owns 444 shares of the technology company’s stock valued at $40,000 after acquiring an additional 111 shares during the last quarter. Live Oak Investment Partners bought a new position in NetEase during the 4th quarter worth approximately $62,000. Finally, Avior Wealth Management LLC grew its holdings in NetEase by 148.9% during the fourth quarter. Avior Wealth Management LLC now owns 993 shares of the technology company’s stock valued at $89,000 after purchasing an additional 594 shares during the period. Institutional investors own 11.07% of the company’s stock.

NetEase Stock Down 5.8 %

Shares of NTES stock opened at $98.86 on Friday. NetEase, Inc. has a 12 month low of $75.85 and a 12 month high of $110.15. The company’s fifty day simple moving average is $102.39 and its 200-day simple moving average is $93.51. The firm has a market cap of $63.48 billion, a PE ratio of 15.52, a P/E/G ratio of 3.37 and a beta of 0.61.

NetEase (NASDAQ:NTES) last issued its quarterly earnings results on Thursday, February 20th. The technology company reported $1.87 EPS for the quarter, topping the consensus estimate of $1.73 by $0.14. The firm had revenue of $3.66 billion for the quarter, compared to analysts’ expectations of $27.16 billion. NetEase had a net margin of 28.17% and a return on equity of 22.12%. On average, equities analysts predict that NetEase, Inc. will post 6.91 earnings per share for the current fiscal year.

NetEase Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Thursday, March 6th were given a dividend of $0.435 per share. This represents a $1.74 annualized dividend and a dividend yield of 1.76%. The ex-dividend date was Thursday, March 6th. NetEase’s dividend payout ratio (DPR) is 76.45%.

Analyst Upgrades and Downgrades

Several research firms have weighed in on NTES. Barclays increased their target price on shares of NetEase from $82.00 to $104.00 and gave the stock an “equal weight” rating in a report on Monday, February 24th. Bank of America boosted their target price on NetEase from $120.00 to $122.00 and gave the company a “buy” rating in a research note on Wednesday, January 15th. Benchmark raised their price target on NetEase from $105.00 to $115.00 and gave the stock a “buy” rating in a research report on Friday, February 21st. StockNews.com lowered NetEase from a “strong-buy” rating to a “buy” rating in a research report on Friday, December 6th. Finally, Morgan Stanley raised their target price on shares of NetEase from $108.00 to $117.00 and gave the stock an “overweight” rating in a report on Wednesday, February 12th. One analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $114.57.

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.