Legal & General Group Plc grew its holdings in shares of NetEase Inc (NASDAQ:NTES) by 1.6% during the 1st quarter, HoldingsChannel.com reports. The firm owned 556,734 shares of the technology company’s stock after buying an additional 9,001 shares during the period. Legal & General Group Plc’s holdings in NetEase were worth $178,689,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Anderson Fisher LLC acquired a new stake in shares of NetEase in the 4th quarter worth approximately $26,000. Ovata Capital Management Ltd acquired a new stake in shares of NetEase in the 4th quarter worth approximately $28,000. First Interstate Bank acquired a new stake in shares of NetEase in the 4th quarter worth approximately $37,000. Smithfield Trust Co. acquired a new stake in shares of NetEase in the 1st quarter worth approximately $37,000. Finally, Nkcfo LLC acquired a new stake in shares of NetEase in the 1st quarter worth approximately $39,000. Institutional investors own 46.94% of the company’s stock.
NTES has been the topic of a number of research reports. Barclays restated an “overweight” rating and issued a $450.00 price target (up previously from $390.00) on shares of NetEase in a report on Friday, May 22nd. BidaskClub upgraded NetEase from a “hold” rating to a “buy” rating in a report on Friday, May 15th. Macquarie cut NetEase from an “outperform” rating to a “neutral” rating in a report on Thursday, February 27th. Nomura Instinet increased their target price on NetEase from $439.00 to $464.00 and gave the company a “buy” rating in a report on Thursday, May 21st. Finally, Bank of America increased their target price on NetEase from $366.00 to $415.00 and gave the company a “buy” rating in a report on Thursday, February 27th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and fourteen have given a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $401.66.
Shares of NetEase stock traded down $16.98 during trading hours on Thursday, reaching $408.00. 114,257 shares of the company’s stock were exchanged, compared to its average volume of 852,345. NetEase Inc has a 52-week low of $209.01 and a 52-week high of $427.33. The firm has a market capitalization of $53.07 billion, a price-to-earnings ratio of 16.86, a price-to-earnings-growth ratio of 0.65 and a beta of 0.72. The company has a fifty day moving average of $370.74 and a 200-day moving average of $335.82.
NetEase (NASDAQ:NTES) last issued its quarterly earnings results on Tuesday, May 19th. The technology company reported $32.17 earnings per share for the quarter, topping analysts’ consensus estimates of $3.51 by $28.66. NetEase had a return on equity of 37.00% and a net margin of 33.53%. The company had revenue of $2.41 billion for the quarter, compared to analyst estimates of $2.31 billion. As a group, equities analysts forecast that NetEase Inc will post 15.39 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 23rd. Shareholders of record on Friday, June 12th will be paid a dividend of $1.16 per share. This represents a $4.64 dividend on an annualized basis and a dividend yield of 1.14%. The ex-dividend date of this dividend is Thursday, June 11th. This is a positive change from NetEase’s previous quarterly dividend of $1.02. NetEase’s dividend payout ratio is currently 27.74%.
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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