US Bancorp DE Acquires 19,659 Shares of NetEase, Inc. (NASDAQ:NTES)

US Bancorp DE boosted its holdings in NetEase, Inc. (NASDAQ:NTESFree Report) by 76.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 45,385 shares of the technology company’s stock after purchasing an additional 19,659 shares during the period. US Bancorp DE’s holdings in NetEase were worth $4,228,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Financial Counselors Inc. lifted its stake in NetEase by 4.1% in the fourth quarter. Financial Counselors Inc. now owns 3,195 shares of the technology company’s stock valued at $298,000 after acquiring an additional 125 shares during the last quarter. Lindbrook Capital LLC lifted its stake in NetEase by 14.0% in the fourth quarter. Lindbrook Capital LLC now owns 1,043 shares of the technology company’s stock valued at $97,000 after acquiring an additional 128 shares during the last quarter. Sequoia Financial Advisors LLC lifted its stake in NetEase by 5.8% in the fourth quarter. Sequoia Financial Advisors LLC now owns 2,588 shares of the technology company’s stock valued at $241,000 after acquiring an additional 143 shares during the last quarter. Huntington National Bank lifted its stake in NetEase by 31.4% in the third quarter. Huntington National Bank now owns 678 shares of the technology company’s stock valued at $68,000 after acquiring an additional 162 shares during the last quarter. Finally, Raymond James Financial Services Advisors Inc. lifted its stake in NetEase by 8.7% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 2,348 shares of the technology company’s stock valued at $219,000 after acquiring an additional 188 shares during the last quarter. Institutional investors own 11.07% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on NTES. HSBC cut their target price on shares of NetEase from $130.00 to $126.00 and set a “buy” rating for the company in a research note on Wednesday, April 24th. Morgan Stanley restated an “equal weight” rating and set a $100.00 target price (down previously from $120.00) on shares of NetEase in a research note on Thursday, May 23rd. Benchmark raised their target price on shares of NetEase from $144.00 to $145.00 and gave the stock a “buy” rating in a research note on Friday, May 24th. Finally, StockNews.com cut shares of NetEase from a “strong-buy” rating to a “buy” rating in a research note on Thursday, May 16th. One research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, NetEase presently has an average rating of “Moderate Buy” and a consensus price target of $125.71.

Check Out Our Latest Stock Analysis on NetEase

NetEase Stock Down 1.8 %

NTES stock opened at $89.56 on Thursday. NetEase, Inc. has a 12 month low of $81.30 and a 12 month high of $118.89. The firm has a market cap of $57.51 billion, a P/E ratio of 13.89, a P/E/G ratio of 1.72 and a beta of 0.58. The company’s 50-day moving average price is $97.52 and its two-hundred day moving average price is $101.36.

NetEase (NASDAQ:NTESGet Free Report) last announced its quarterly earnings results on Thursday, May 23rd. The technology company reported $1.63 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.68 by ($0.05). The company had revenue of $3.72 billion for the quarter, compared to the consensus estimate of $3.61 billion. NetEase had a net margin of 28.75% and a return on equity of 24.19%. Equities analysts predict that NetEase, Inc. will post 7.06 EPS for the current year.

NetEase Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 21st. Investors of record on Thursday, June 6th will be issued a dividend of $0.495 per share. This represents a $1.98 annualized dividend and a dividend yield of 2.21%. The ex-dividend date is Thursday, June 6th. NetEase’s dividend payout ratio (DPR) is presently 66.82%.

NetEase Profile

(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.

See Also

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Institutional Ownership by Quarter for NetEase (NASDAQ:NTES)

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