Altrinsic Global Advisors LLC grew its stake in shares of NetEase Inc (NASDAQ:NTES) by 97.8% during the 1st quarter, HoldingsChannel reports. The firm owned 7,253 shares of the technology company’s stock after acquiring an additional 3,586 shares during the period. Altrinsic Global Advisors LLC’s holdings in NetEase were worth $1,751,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently modified their holdings of the business. BlackRock Inc. boosted its position in shares of NetEase by 12.9% during the 4th quarter. BlackRock Inc. now owns 5,280,932 shares of the technology company’s stock worth $1,242,973,000 after purchasing an additional 602,693 shares in the last quarter. Lazard Asset Management LLC boosted its position in shares of NetEase by 15.1% during the 1st quarter. Lazard Asset Management LLC now owns 3,958,410 shares of the technology company’s stock worth $955,757,000 after purchasing an additional 518,036 shares in the last quarter. Vanguard Group Inc boosted its position in shares of NetEase by 1.7% during the 3rd quarter. Vanguard Group Inc now owns 2,562,086 shares of the technology company’s stock worth $584,796,000 after purchasing an additional 43,455 shares in the last quarter. FMR LLC boosted its position in shares of NetEase by 3.5% in the 4th quarter. FMR LLC now owns 2,172,576 shares of the technology company’s stock worth $511,359,000 after buying an additional 72,461 shares in the last quarter. Finally, Norges Bank purchased a new stake in shares of NetEase in the 4th quarter worth about $214,335,000. Institutional investors own 46.09% of the company’s stock.
Several equities research analysts recently commented on NTES shares. ValuEngine upgraded shares of NetEase from a “hold” rating to a “buy” rating in a research report on Thursday, April 4th. BidaskClub upgraded shares of NetEase from a “hold” rating to a “buy” rating in a research report on Thursday, March 14th. Jefferies Financial Group lowered shares of NetEase from a “buy” rating to a “hold” rating and set a $245.00 price objective on the stock. in a research report on Thursday, February 21st. Zacks Investment Research lowered shares of NetEase from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, February 19th. Finally, TH Capital boosted their price objective on shares of NetEase from $270.00 to $310.00 and gave the stock a “buy” rating in a research report on Monday, May 13th. Three equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $280.45.
NASDAQ:NTES opened at $269.80 on Wednesday. The stock has a market capitalization of $35.43 billion, a price-to-earnings ratio of 39.27, a PEG ratio of 1.95 and a beta of 0.91. NetEase Inc has a 12-month low of $184.60 and a 12-month high of $289.68.
NetEase (NASDAQ:NTES) last released its earnings results on Wednesday, May 15th. The technology company reported $2.75 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.86 by $0.89. The company had revenue of $2.74 billion for the quarter, compared to analyst estimates of $2.73 billion. NetEase had a net margin of 10.94% and a return on equity of 17.05%. The firm’s quarterly revenue was up 23.0% on a year-over-year basis. During the same period in the prior year, the firm earned $1.59 EPS. As a group, equities research analysts predict that NetEase Inc will post 8.94 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, June 7th. Shareholders of record on Friday, May 31st were issued a $0.69 dividend. This represents a $2.76 dividend on an annualized basis and a yield of 1.02%. This is a positive change from NetEase’s previous quarterly dividend of $0.48. The ex-dividend date was Thursday, May 30th. NetEase’s dividend payout ratio is 40.03%.
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NetEase Company Profile
NetEase, Inc operates an interactive online community in the People's Republic of China. The company operates in four segments: Online Games Services, E-Commerce, Advertising Services, and Innovative Businesses and Other Services. 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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