Brinker Capital Investments LLC reduced its position in shares of NetEase, Inc. (NASDAQ:NTES – Get Rating) by 21.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 15,847 shares of the technology company’s stock after selling 4,381 shares during the quarter. Brinker Capital Investments LLC’s holdings in NetEase were worth $1,151,000 as of its most recent SEC filing.
Several other hedge funds have also modified their holdings of NTES. UBS Asset Management Americas Inc. boosted its stake in shares of NetEase by 5.3% during the 3rd quarter. UBS Asset Management Americas Inc. now owns 8,784,849 shares of the technology company’s stock worth $664,135,000 after acquiring an additional 441,250 shares in the last quarter. Assenagon Asset Management S.A. lifted its stake in NetEase by 189.4% in the 3rd quarter. Assenagon Asset Management S.A. now owns 644,224 shares of the technology company’s stock valued at $48,703,000 after buying an additional 421,605 shares in the last quarter. Greenwoods Asset Management Hong Kong Ltd. lifted its stake in NetEase by 16.5% in the 3rd quarter. Greenwoods Asset Management Hong Kong Ltd. now owns 2,561,839 shares of the technology company’s stock valued at $193,675,000 after buying an additional 362,619 shares in the last quarter. Genesis Investment Management LLP lifted its stake in NetEase by 38.9% in the 4th quarter. Genesis Investment Management LLP now owns 1,258,266 shares of the technology company’s stock valued at $91,388,000 after buying an additional 352,127 shares in the last quarter. Finally, Great West Life Assurance Co. Can purchased a new position in NetEase in the 3rd quarter valued at about $22,316,000. 13.50% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
A number of research analysts recently weighed in on NTES shares. StockNews.com raised shares of NetEase from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, April 19th. Citigroup raised their price target on shares of NetEase from $100.00 to $115.00 and gave the company a “buy” rating in a research note on Monday, February 27th. JPMorgan Chase & Co. raised shares of NetEase from a “neutral” rating to an “overweight” rating and raised their price target for the company from $85.00 to $100.00 in a research note on Tuesday, February 28th. Finally, TheStreet upgraded shares of NetEase from a “c+” rating to a “b-” rating in a report on Wednesday, January 18th. Four research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $108.80.
NetEase Stock Down 1.2 %
NetEase (NASDAQ:NTES – Get Rating) last released its quarterly earnings data on Thursday, February 23rd. The technology company reported $0.88 EPS for the quarter, missing analysts’ consensus estimates of $1.12 by ($0.24). The business had revenue of $3.68 billion during the quarter, compared to analyst estimates of $3.69 billion. NetEase had a net margin of 20.99% and a return on equity of 18.49%. As a group, analysts forecast that NetEase, Inc. will post 4.71 earnings per share for the current fiscal year.
NetEase Cuts Dividend
The company also recently declared a quarterly dividend, which was paid on Friday, March 24th. Stockholders of record on Thursday, March 9th were issued a dividend of $0.27 per share. The ex-dividend date was Wednesday, March 8th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.23%. NetEase’s dividend payout ratio is currently 23.52%.
NetEase Company Profile
NetEase, Inc is an internet technology company, which engages in the provision of premium online services centered around content, community, communication and commerce. It develops and operates some of the most popular PC-client and mobile games in China. The firm also operates some of the most popular international online games in China by partnering with Blizzard Entertainment, Mojang AB (a Microsoft subsidiary) and other global game developers.
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