NetEase, Inc. (NASDAQ:NTES) Shares Purchased by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of NetEase, Inc. (NASDAQ:NTES) by 6.3% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,508 shares of the technology company’s stock after buying an additional 506 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in NetEase were worth $813,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in NTES. Nordea Investment Management AB grew its stake in shares of NetEase by 17.2% during the first quarter. Nordea Investment Management AB now owns 318,550 shares of the technology company’s stock worth $33,059,000 after acquiring an additional 46,635 shares during the last quarter. Canada Pension Plan Investment Board raised its holdings in shares of NetEase by 12.4% in the first quarter. Canada Pension Plan Investment Board now owns 327,400 shares of the technology company’s stock worth $33,876,000 after buying an additional 36,000 shares during the last quarter. Lazard Asset Management LLC raised its holdings in shares of NetEase by 804.5% in the first quarter. Lazard Asset Management LLC now owns 792,357 shares of the technology company’s stock worth $81,983,000 after buying an additional 704,753 shares during the last quarter. Boston Partners acquired a new stake in shares of NetEase during the fourth quarter worth $964,000. Finally, Mirae Asset Global Investments Co. Ltd. increased its position in shares of NetEase by 6.3% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 278,802 shares of the technology company’s stock valued at $28,848,000 after acquiring an additional 16,607 shares during the period. 11.07% of the stock is owned by institutional investors and hedge funds.

NetEase Price Performance

NASDAQ:NTES opened at $79.56 on Thursday. The company has a 50 day moving average price of $89.78 and a 200-day moving average price of $95.70. NetEase, Inc. has a 1-year low of $77.57 and a 1-year high of $118.89. The firm has a market cap of $51.09 billion, a price-to-earnings ratio of 12.33, a price-to-earnings-growth ratio of 1.61 and a beta of 0.53.

NetEase (NASDAQ:NTES) last released its quarterly earnings data on Thursday, August 22nd. The technology company reported $12.05 earnings per share for the quarter, beating analysts’ consensus estimates of $1.62 by $10.43. NetEase had a net margin of 26.98% and a return on equity of 22.30%. The company had revenue of $25.49 billion during the quarter, compared to analysts’ expectations of $26.01 billion. During the same quarter in the previous year, the company earned $1.75 earnings per share. The firm’s revenue for the quarter was up 6.1% on a year-over-year basis. On average, sell-side analysts anticipate that NetEase, Inc. will post 6.67 earnings per share for the current fiscal year.

NetEase Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 20th. Investors of record on Friday, September 6th will be issued a $0.435 dividend. The ex-dividend date of this dividend is Friday, September 6th. This represents a $1.74 dividend on an annualized basis and a yield of 2.19%. NetEase’s payout ratio is 26.82%.

Analysts Set New Price Targets

NTES has been the subject of a number of research reports. Barclays lowered their price target on NetEase from $104.00 to $82.00 and set an “equal weight” rating for the company in a research report on Monday, August 26th. StockNews.com downgraded shares of NetEase from a “strong-buy” rating to a “buy” rating in a report on Saturday, July 20th. Morgan Stanley restated an “equal weight” rating and set a $100.00 price objective on shares of NetEase in a research note on Friday, July 5th. Jefferies Financial Group cut their price objective on shares of NetEase from $126.00 to $103.00 and set a “buy” rating on the stock in a research note on Thursday, August 22nd. Finally, Bank of America decreased their target price on shares of NetEase from $142.00 to $120.00 and set a “buy” rating for the company in a research report on Friday, August 23rd. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, NetEase presently has a consensus rating of “Moderate Buy” and an average target price of $112.67.

NetEase Company 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.