Fosun International Ltd decreased its position in NetEase, Inc. (NASDAQ:NTES – Free Report) by 86.0% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 3,561 shares of the technology company’s stock after selling 21,809 shares during the period. Fosun International Ltd’s holdings in NetEase were worth $357,000 as of its most recent filing with the SEC.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in NTES. Financial Gravity Asset Management Inc. purchased a new position in NetEase in the 2nd quarter valued at approximately $11,754,000. Commonwealth Equity Services LLC grew its position in shares of NetEase by 2.1% during the 2nd quarter. Commonwealth Equity Services LLC now owns 5,290 shares of the technology company’s stock valued at $512,000 after purchasing an additional 109 shares in the last quarter. Huntington National Bank grew its position in shares of NetEase by 27.4% during the 2nd quarter. Huntington National Bank now owns 516 shares of the technology company’s stock valued at $50,000 after purchasing an additional 111 shares in the last quarter. CWM LLC grew its position in shares of NetEase by 59.9% during the 2nd quarter. CWM LLC now owns 331 shares of the technology company’s stock valued at $32,000 after purchasing an additional 124 shares in the last quarter. Finally, Panagora Asset Management Inc. grew its position in shares of NetEase by 1.5% during the 3rd quarter. Panagora Asset Management Inc. now owns 12,201 shares of the technology company’s stock valued at $1,222,000 after purchasing an additional 178 shares in the last quarter. Hedge funds and other institutional investors own 11.78% of the company’s stock.
NetEase Stock Performance
NASDAQ NTES opened at $98.83 on Friday. NetEase, Inc. has a 52-week low of $76.85 and a 52-week high of $118.89. The company has a market capitalization of $63.72 billion, a P/E ratio of 17.07, a P/E/G ratio of 0.88 and a beta of 0.56. The company has a fifty day moving average of $98.36 and a 200-day moving average of $102.88.
NetEase (NASDAQ:NTES – Get Free Report) last posted its quarterly earnings data on Thursday, November 16th. The technology company reported $13.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $10.87 by $2.43. NetEase had a net margin of 26.21% and a return on equity of 23.04%. The company had revenue of $27.27 billion during the quarter, compared to the consensus estimate of $27.26 billion. During the same period in the previous year, the firm posted $1.43 EPS. The firm’s revenue was up 13.6% compared to the same quarter last year. As a group, analysts forecast that NetEase, Inc. will post 6.55 EPS for the current fiscal year.
NetEase Cuts Dividend
The firm also recently declared a quarterly dividend, which was paid on Friday, December 15th. Shareholders of record on Friday, December 1st were paid a $0.495 dividend. This represents a $1.98 annualized dividend and a yield of 2.00%. The ex-dividend date was Thursday, November 30th. NetEase’s dividend payout ratio is presently 34.02%.
Analyst Upgrades and Downgrades
A number of research analysts have recently commented on the stock. Benchmark boosted their price target on shares of NetEase from $130.00 to $140.00 and gave the company a “buy” rating in a research report on Friday, November 17th. StockNews.com upgraded shares of NetEase from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, November 22nd. Five equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, NetEase has a consensus rating of “Buy” and an average target price of $126.00.
About NetEase
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.