NetEase, Inc. (NASDAQ:NTES) Stock Holdings Decreased by Mackenzie Financial Corp

Mackenzie Financial Corp lowered its stake in NetEase, Inc. (NASDAQ:NTES) by 71.6% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 14,261 shares of the technology company’s stock after selling 35,949 shares during the period. Mackenzie Financial Corp’s holdings in NetEase were worth $1,329,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Private Trust Co. NA grew its position in shares of NetEase by 418.9% during the 4th quarter. Private Trust Co. NA now owns 275 shares of the technology company’s stock valued at $26,000 after buying an additional 222 shares during the last quarter. Chilton Capital Management LLC acquired a new position in NetEase during the 4th quarter valued at about $37,000. Headlands Technologies LLC acquired a new position in NetEase during the 3rd quarter valued at about $56,000. CVA Family Office LLC acquired a new position in NetEase during the 4th quarter valued at about $65,000. Finally, Huntington National Bank boosted its stake in NetEase by 31.4% during the 3rd quarter. Huntington National Bank now owns 678 shares of the technology company’s stock valued at $68,000 after purchasing an additional 162 shares during the period. Institutional investors own 11.07% of the company’s stock.

Analysts Set New Price Targets

NTES has been the subject of a number of research analyst reports. HSBC reduced their price target on shares of NetEase from $130.00 to $126.00 and set a “buy” rating for the company in a research note on Wednesday. StockNews.com raised shares of NetEase from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, March 26th. Finally, Morgan Stanley reduced their price target on shares of NetEase from $135.00 to $120.00 and set an “overweight” rating for the company in a research note on Friday, April 12th. Seven equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $126.00.

NetEase Price Performance

NTES stock opened at $94.02 on Thursday. NetEase, Inc. has a 12 month low of $80.79 and a 12 month high of $118.89. The firm has a market cap of $60.62 billion, a PE ratio of 14.85, a P/E/G ratio of 0.86 and a beta of 0.58. The firm has a 50 day simple moving average of $102.78 and a 200 day simple moving average of $103.09.

NetEase (NASDAQ:NTES) last released its quarterly earnings results on Thursday, February 29th. The technology company reported $1.42 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.62 by ($0.20). NetEase had a net margin of 28.39% and a return on equity of 24.36%. The firm had revenue of $3.82 billion for the quarter, compared to analyst estimates of $3.96 billion. As a group, sell-side analysts expect that NetEase, Inc. will post 7.04 earnings per share for the current year.

NetEase Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Thursday, March 14th were paid a $1.08 dividend. This represents a $4.32 annualized dividend and a yield of 4.59%. The ex-dividend date of this dividend was Wednesday, March 13th. This is a positive change from NetEase’s previous quarterly dividend of $0.50. NetEase’s dividend payout ratio is currently 68.09%.

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.