Loring Wolcott & Coolidge Fiduciary Advisors LLP MA Lowers Stake in NetEase, Inc. (NASDAQ:NTES)

Loring Wolcott & Coolidge Fiduciary Advisors LLP MA decreased its holdings in NetEase, Inc. (NASDAQ:NTES) by 13.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,190 shares of the technology company’s stock after selling 185 shares during the period. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA’s holdings in NetEase were worth $116,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of NTES. Ballentine Partners LLC acquired a new stake in NetEase in the 3rd quarter valued at about $216,000. Cambridge Investment Research Advisors Inc. increased its holdings in shares of NetEase by 13.2% during the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 6,467 shares of the technology company’s stock worth $648,000 after buying an additional 752 shares during the last quarter. Dakota Wealth Management acquired a new stake in shares of NetEase during the 3rd quarter worth approximately $200,000. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of NetEase by 86.8% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 16,918 shares of the technology company’s stock worth $1,695,000 after buying an additional 7,860 shares during the last quarter. Finally, Mackenzie Financial Corp increased its holdings in shares of NetEase by 202.4% during the 3rd quarter. Mackenzie Financial Corp now owns 50,210 shares of the technology company’s stock worth $4,962,000 after buying an additional 33,607 shares during the last quarter. Institutional investors and hedge funds own 11.07% of the company’s stock.

NetEase Stock Performance

NASDAQ:NTES opened at $93.07 on Wednesday. The stock has a market capitalization of $60.00 billion, a P/E ratio of 14.70, a PEG ratio of 0.86 and a beta of 0.58. The company has a 50 day moving average price of $103.05 and a 200 day moving average price of $103.15. NetEase, Inc. has a fifty-two week low of $80.79 and a fifty-two week high of $118.89.

NetEase (NASDAQ:NTES) last issued its quarterly earnings results on Thursday, February 29th. The technology company reported $1.42 EPS for the quarter, missing the consensus estimate of $1.62 by ($0.20). NetEase had a net margin of 28.39% and a return on equity of 24.36%. The business had revenue of $3.82 billion during the quarter, compared to analysts’ expectations of $3.96 billion. Research analysts forecast that NetEase, Inc. will post 7.04 earnings per share for the current fiscal year.

NetEase Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Thursday, March 14th were given a $1.08 dividend. This represents a $4.32 annualized dividend and a yield of 4.64%. The ex-dividend date was Wednesday, March 13th. This is a boost from NetEase’s previous quarterly dividend of $0.50. NetEase’s dividend payout ratio (DPR) is currently 68.09%.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on NTES shares. Morgan Stanley cut their price target on shares of NetEase from $135.00 to $120.00 and set an “overweight” rating for the company in a report on Friday, April 12th. StockNews.com upgraded shares of NetEase from a “buy” rating to a “strong-buy” rating in a report on Tuesday, March 26th. Six investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, NetEase currently has an average rating of “Buy” and an average price target of $126.00.

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.