2 weeks Ago By ABMN Staff
Wells Fargo & Company MN reduced its stake in NetEase, Inc. ( NASDAQ:NTES – Free Report ) by 18.8% during the fourth quarter, according to its most recent filing with the SEC.
The fund owned 92,853 shares of the technology company’s stock after selling 21,505 shares during the quarter. Wells Fargo & Company MN’s holdings in NetEase were worth $8,283,000 at the end of the most recent quarter. Several other institutional investors also recently added to or reduced their stakes in the stock.
Farther Finance Advisors LLC boosted its stake in NetEase by 81.7% in the fourth quarter. Farther Finance Advisors LLC now owns 338 shares of the technology company’s stock valued at $30,000 after acquiring an additional 152 shares during the last quarter.
Brooklyn Investment Group purchased a new position in NetEase in the fourth quarter valued at approximately $34,000. UMB Bank n.a.
lifted its stake in NetEase by 33.3% in the fourth quarter. UMB Bank n.
a. now owns 444 shares of the technology company’s stock valued at $40,000 after purchasing an additional 111 shares during the last quarter. Live Oak Investment Partners bought a new position in NetEase during the fourth quarter valued at $62,000.
Finally, Avior Wealth Management LLC increased its position in NetEase by 148.9% in the fourth quarter. Avior Wealth Management LLC now owns 993 shares of the technology company’s stock worth $89,000 after buying an additional 594 shares during the last quarter.
Institutional investors own 11.07% of the company’s stock. Analysts Set New Price Targets Several research firms have recently weighed in on NTES.
Barclays increased their price target on NetEase from $82.00 to $104.00 and gave the stock an “equal weight” rating in a research note on Monday, February 24th.
Bank of America increased their target price on shares of NetEase from $120.00 to $122.00 and gave the stock a “buy” rating in a research report on Wednesday, January 15th.
Morgan Stanley boosted their price target on shares of NetEase from $108.00 to $117.00 and gave the company an “overweight” rating in a research report on Wednesday, February 12th.
Finally, Benchmark raised their price objective on shares of NetEase from $105.00 to $115.00 and gave the stock a “buy” rating in a report on Friday, February 21st.
One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $114.57.
NetEase Trading Up 1.4 % NTES stock opened at $98.73 on Friday.
The firm has a 50 day moving average of $100.73 and a 200-day moving average of $94.28.
The firm has a market capitalization of $63.40 billion, a P/E ratio of 15.50, a price-to-earnings-growth ratio of 3.
37 and a beta of 0.65. NetEase, Inc.
has a 12 month low of $75.85 and a 12 month high of $110.15.
NetEase ( NASDAQ:NTES – Get Free Report ) last released its quarterly earnings results on Thursday, February 20th. The technology company reported $1.87 EPS for the quarter, beating analysts’ consensus estimates of $1.
73 by $0.14. NetEase had a net margin of 28.
17% and a return on equity of 22.12%. The firm had revenue of $3.
66 billion during the quarter, compared to analyst estimates of $27.16 billion. Sell-side analysts predict that NetEase, Inc.
will post 6.91 EPS for the current year. NetEase Dividend Announcement The company also recently announced a quarterly dividend, which was paid on Thursday, March 20th.
Investors of record on Thursday, March 6th were given a $0.435 dividend. The ex-dividend date of this dividend was Thursday, March 6th.
This represents a $1.74 dividend on an annualized basis and a yield of 1.76%.
NetEase’s payout ratio is 76.45%. About NetEase ( Free Report ) 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. Read More Want to see what other hedge funds are holding NTES? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for NetEase, Inc.
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