Westwood Holdings Group Inc. lowered its holdings in NetEase Inc (NASDAQ:NTES) by 28.1% during the 1st quarter, Holdings Channel reports. The firm owned 130,829 shares of the technology company’s stock after selling 51,147 shares during the quarter. Westwood Holdings Group Inc.’s holdings in NetEase were worth $31,589,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also made changes to their positions in the company. Vanguard Group Inc boosted its stake in shares of NetEase by 1.7% in the 3rd quarter. Vanguard Group Inc now owns 2,562,086 shares of the technology company’s stock valued at $584,796,000 after purchasing an additional 43,455 shares in the last quarter. Daiwa Securities Group Inc. boosted its stake in shares of NetEase by 1,584.1% in the 4th quarter. Daiwa Securities Group Inc. now owns 11,115 shares of the technology company’s stock valued at $2,616,000 after purchasing an additional 10,455 shares in the last quarter. Mondrian Capital Management LLC acquired a new position in NetEase during the 4th quarter worth about $4,943,000. Victory Capital Management Inc. acquired a new position in NetEase during the 4th quarter worth about $9,483,000. Finally, Cigna Investments Inc. New lifted its position in NetEase by 19.1% during the 4th quarter. Cigna Investments Inc. New now owns 1,861 shares of the technology company’s stock worth $438,000 after buying an additional 299 shares in the last quarter. 46.09% of the stock is currently owned by institutional investors.
NASDAQ NTES traded down $2.16 during trading hours on Wednesday, reaching $267.64. 25,303 shares of the company’s stock were exchanged, compared to its average volume of 772,162. NetEase Inc has a one year low of $184.60 and a one year high of $289.68. The stock has a market cap of $35.03 billion, a price-to-earnings ratio of 38.94, a PEG ratio of 1.95 and a beta of 0.91.
NetEase (NASDAQ:NTES) last posted its earnings results on Wednesday, May 15th. The technology company reported $2.75 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.86 by $0.89. NetEase had a return on equity of 17.05% and a net margin of 10.94%. The business had revenue of $2.74 billion during the quarter, compared to analysts’ expectations of $2.73 billion. During the same period in the prior year, the business earned $1.59 EPS. NetEase’s revenue for the quarter was up 23.0% compared to the same quarter last year. Analysts anticipate that NetEase Inc will post 8.94 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Friday, June 7th. Investors of record on Friday, May 31st were paid a dividend of $0.69 per share. This represents a $2.76 dividend on an annualized basis and a yield of 1.03%. This is a boost from NetEase’s previous quarterly dividend of $0.48. The ex-dividend date of this dividend was Thursday, May 30th. NetEase’s dividend payout ratio is presently 40.03%.
NTES has been the topic of several research reports. Zacks Investment Research downgraded shares of NetEase from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, February 19th. BidaskClub raised NetEase from a “hold” rating to a “buy” rating in a report on Thursday, March 14th. TH Capital boosted their price objective on NetEase from $270.00 to $310.00 and gave the stock a “buy” rating in a report on Monday, May 13th. Barclays boosted their price objective on NetEase from $275.00 to $300.00 and gave the stock an “overweight” rating in a report on Tuesday, May 14th. They noted that the move was a valuation call. Finally, Jefferies Financial Group cut NetEase from a “buy” rating to a “hold” rating and set a $245.00 price target for the company. in a research note on Thursday, February 21st. Three research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $280.45.
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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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