Cerity Partners LLC grew its position in NetEase, Inc. (NASDAQ:NTES – Free Report) by 34.5% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,176 shares of the technology company’s stock after acquiring an additional 1,328 shares during the period. Cerity Partners LLC’s holdings in NetEase were worth $458,000 at the end of the most recent reporting period.
A number of other institutional investors also recently modified their holdings of the company. Huntington National Bank raised its position in NetEase by 36.7% in the 4th quarter. Huntington National Bank now owns 432 shares of the technology company’s stock worth $31,000 after purchasing an additional 116 shares during the last quarter. Belpointe Asset Management LLC acquired a new stake in NetEase during the 4th quarter worth $39,000. CVA Family Office LLC acquired a new position in shares of NetEase in the 4th quarter valued at $51,000. Penserra Capital Management LLC grew its holdings in shares of NetEase by 91.1% in the 4th quarter. Penserra Capital Management LLC now owns 837 shares of the technology company’s stock valued at $60,000 after buying an additional 399 shares during the period. Finally, Ancora Advisors LLC grew its holdings in shares of NetEase by 84.6% in the 1st quarter. Ancora Advisors LLC now owns 1,200 shares of the technology company’s stock valued at $124,000 after buying an additional 550 shares during the period. Institutional investors own 11.78% of the company’s stock.
Wall Street Analyst Weigh In
Several equities analysts have recently issued reports on NTES shares. Jefferies Financial Group boosted their price target on shares of NetEase from $112.00 to $117.00 in a report on Thursday, July 6th. UBS Group boosted their price objective on shares of NetEase from $112.00 to $113.00 in a research report on Friday, May 26th. Bank of America boosted their price target on shares of NetEase from $128.00 to $135.00 and gave the stock a “buy” rating in a research report on Friday, August 25th. Citigroup cut their price target on shares of NetEase from $134.00 to $132.00 and set a “buy” rating on the stock in a research report on Friday, August 25th. Finally, StockNews.com raised shares of NetEase from a “buy” rating to a “strong-buy” rating in a research report on Friday, August 25th. Six equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $122.13.
NetEase Stock Down 1.2 %
Shares of NTES opened at $100.22 on Thursday. NetEase, Inc. has a 52 week low of $53.09 and a 52 week high of $110.82. The firm has a market cap of $65.62 billion, a P/E ratio of 17.99, a price-to-earnings-growth ratio of 1.13 and a beta of 0.60. The firm’s 50-day simple moving average is $103.15 and its 200 day simple moving average is $93.64. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.91 and a current ratio of 2.93.
NetEase (NASDAQ:NTES – Get Free Report) last announced its earnings results on Thursday, August 24th. The technology company reported $13.88 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 analyst estimates of $24.85 billion. During the same quarter in the prior year, the business posted $1.05 EPS. The business’s revenue was up 3.7% compared to the same quarter last year. On average, analysts forecast that NetEase, Inc. will post 5.81 earnings per share for the current year.
NetEase Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 22nd. Shareholders of record on Friday, September 8th will be given a dividend of $0.525 per share. This represents a $2.10 dividend on an annualized basis and a dividend yield of 2.10%. The ex-dividend date is Thursday, September 7th. This is a positive change from NetEase’s previous quarterly dividend of $0.47. NetEase’s dividend payout ratio is presently 37.52%.
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.
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