Legacy Wealth Asset Management LLC acquired a new stake in NetEase, Inc. (NASDAQ:NTES) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 7,269 shares of the technology company’s stock, valued at approximately $696,000.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Alpha DNA Investment Management LLC purchased a new stake in NetEase in the fourth quarter valued at approximately $28,000. DekaBank Deutsche Girozentrale raised its position in NetEase by 172.3% in the fourth quarter. DekaBank Deutsche Girozentrale now owns 101,697 shares of the technology company’s stock valued at $9,687,000 after purchasing an additional 64,347 shares during the period. B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in NetEase in the fourth quarter valued at approximately $3,118,000. Teachers Retirement System of The State of Kentucky raised its position in NetEase by 631.9% in the fourth quarter. Teachers Retirement System of The State of Kentucky now owns 240,800 shares of the technology company’s stock valued at $23,062,000 after purchasing an additional 207,900 shares during the period. Finally, Harvest Volatility Management LLC purchased a new stake in NetEase in the fourth quarter valued at approximately $421,000.
A number of analysts have issued reports on NTES shares. Barclays boosted their target price on NetEase from $110.00 to $155.00 and gave the company an “overweight” rating in a research report on Tuesday, February 16th. Zacks Investment Research raised NetEase from a “strong sell” rating to a “hold” rating in a research report on Tuesday, March 16th. Finally, Industrial Alliance Securities began coverage on NetEase in a research report on Thursday, December 31st. They set an “outperform” rating on the stock. One research analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $105.98.
NetEase (NASDAQ:NTES) last posted its earnings results on Thursday, February 25th. The technology company reported $0.22 EPS for the quarter, missing the consensus estimate of $0.27 by ($0.05). The business had revenue of $3.03 billion during the quarter, compared to analysts’ expectations of $2.96 billion. NetEase had a net margin of 20.47% and a return on equity of 19.03%. On average, equities research analysts anticipate that NetEase, Inc. will post 2.87 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Friday, March 26th. Investors of record on Friday, March 12th were issued a $0.06 dividend. This represents a $0.24 annualized dividend and a yield of 0.23%. The ex-dividend date was Thursday, March 11th. NetEase’s dividend payout ratio (DPR) is presently 7.85%.
NetEase, Inc, an Internet technology company, provides online services focusing on content, community, communication, and commerce in the Peoples' Republic of China and internationally. The company operates in three segments: Online Games Services, Youdao, and Innovative Businesses and Others. It develops and operates PC-client and mobile games, as well as offers games licensed from other game developers.
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