Guggenheim Capital LLC Grows Stock Position in NetEase, Inc. (NASDAQ:NTES)

Guggenheim Capital LLC grew its holdings in shares of NetEase, Inc. (NASDAQ:NTES) by 75.3% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 12,687 shares of the technology company’s stock after buying an additional 5,451 shares during the period. Guggenheim Capital LLC’s holdings in NetEase were worth $1,122,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of the business. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp acquired a new stake in shares of NetEase during the first quarter worth about $1,135,000. Sei Investments Co. lifted its stake in NetEase by 2.5% in the 1st quarter. Sei Investments Co. now owns 15,901 shares of the technology company’s stock valued at $1,432,000 after buying an additional 386 shares in the last quarter. Candriam Luxembourg S.C.A. purchased a new stake in NetEase in the 1st quarter valued at approximately $8,461,000. West Family Investments Inc. acquired a new position in NetEase in the 1st quarter valued at $266,000. Finally, XTX Topco Ltd acquired a new position in NetEase in the 1st quarter valued at $246,000. 11.78% of the stock is owned by hedge funds and other institutional investors.

NetEase Trading Up 0.9 %

Shares of NASDAQ:NTES opened at $104.45 on Friday. The firm has a fifty day moving average of $102.73 and a two-hundred day moving average of $93.32. The firm has a market capitalization of $68.39 billion, a P/E ratio of 18.75, a price-to-earnings-growth ratio of 1.19 and a beta of 0.55. NetEase, Inc. has a 12-month low of $53.09 and a 12-month high of $110.82. The company has a quick ratio of 2.91, a current ratio of 2.93 and a debt-to-equity ratio of 0.03.

NetEase (NASDAQ:NTES) last announced its earnings results on Thursday, August 24th. The technology company reported $13.88 EPS for the quarter, topping the consensus estimate of $9.14 by $4.74. NetEase had a net margin of 25.84% and a return on equity of 22.78%. The firm had revenue of $24.01 billion for the quarter, compared to the consensus estimate of $24.85 billion. During the same quarter last year, the firm posted $1.05 EPS. The business’s quarterly revenue was up 3.7% on a year-over-year basis. On average, equities analysts expect that NetEase, Inc. will post 5.44 EPS for the current fiscal year.

NetEase Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 22nd. Stockholders of record on Friday, September 8th will be given a dividend of $0.525 per share. This is a positive change from NetEase’s previous quarterly dividend of $0.47. This represents a $2.10 annualized dividend and a dividend yield of 2.01%. The ex-dividend date is Thursday, September 7th. NetEase’s payout ratio is 37.52%.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on NTES shares. Benchmark upped their price objective on NetEase from $118.00 to $130.00 and gave the stock a “buy” rating in a report on Friday, August 25th. Bank of America upped their price objective on shares of NetEase from $128.00 to $135.00 and gave the company a “buy” rating in a research report on Friday, August 25th. UBS Group increased their price target on shares of NetEase from $112.00 to $113.00 in a research report on Friday, May 26th. Morgan Stanley raised their target price on shares of NetEase from $115.00 to $120.00 in a report on Friday, May 26th. Finally, StockNews.com raised shares of NetEase from a “buy” rating to a “strong-buy” rating in a report on Friday, August 25th. Six analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $122.13.

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.