UBS Asset Management Americas Inc. boosted its stake in shares of NetEase Inc (NASDAQ:NTES) by 179.7% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,907,384 shares of the technology company’s stock after acquiring an additional 1,225,421 shares during the quarter. NetEase accounts for about 0.6% of UBS Asset Management Americas Inc.’s investment portfolio, making the stock its 29th largest holding. UBS Asset Management Americas Inc. owned approximately 1.44% of NetEase worth $658,181,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds also recently modified their holdings of the company. PNC Financial Services Group Inc. lifted its holdings in NetEase by 22.4% in the 2nd quarter. PNC Financial Services Group Inc. now owns 536 shares of the technology company’s stock worth $161,000 after buying an additional 98 shares during the period. Stifel Financial Corp lifted its holdings in NetEase by 25.9% in the 2nd quarter. Stifel Financial Corp now owns 3,032 shares of the technology company’s stock worth $919,000 after buying an additional 624 shares during the period. The Manufacturers Life Insurance Company lifted its holdings in NetEase by 13.8% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 14,895 shares of the technology company’s stock worth $4,478,000 after buying an additional 1,811 shares during the period. Raymond James Financial Services Advisors Inc. purchased a new stake in NetEase in the 2nd quarter worth approximately $218,000. Finally, Ameritas Investment Partners Inc. lifted its holdings in NetEase by 1.3% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 1,366 shares of the technology company’s stock worth $411,000 after buying an additional 17 shares during the period. Institutional investors own 48.15% of the company’s stock.
NTES has been the subject of several research analyst reports. Deutsche Bank set a $334.00 price objective on NetEase and gave the stock a “buy” rating in a report on Thursday, November 16th. Benchmark dropped their price objective on NetEase from $360.00 to $340.00 and set a “buy” rating for the company in a report on Thursday, November 16th. Citigroup reiterated a “buy” rating and issued a $351.00 price objective on shares of NetEase in a report on Thursday, November 16th. Vetr upgraded NetEase from a “hold” rating to a “buy” rating and set a $323.68 price objective for the company in a report on Monday, November 13th. Finally, ValuEngine upgraded NetEase from a “hold” rating to a “buy” rating in a report on Friday, November 10th. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $349.14.
NetEase Inc (NASDAQ NTES) opened at $307.44 on Friday. The company has a market capitalization of $40,894.51, a P/E ratio of 25.73, a PEG ratio of 1.77 and a beta of 0.75. NetEase Inc has a one year low of $253.20 and a one year high of $377.64.
NetEase (NASDAQ:NTES) last released its earnings results on Wednesday, November 15th. The technology company reported $2.86 EPS for the quarter, beating the Zacks’ consensus estimate of $2.66 by $0.20. The company had revenue of $1.88 billion during the quarter, compared to analysts’ expectations of $1.84 billion. NetEase had a return on equity of 24.93% and a net margin of 19.64%. analysts forecast that NetEase Inc will post 13.25 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, March 2nd. Stockholders of record on Friday, February 23rd will be paid a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a dividend yield of 0.49%. The ex-dividend date is Thursday, February 22nd. NetEase’s payout ratio is presently 30.38%.
NetEase declared that its board has approved a share buyback plan on Wednesday, November 15th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the technology company to buy shares of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s leadership believes its stock is undervalued.
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NetEase Company Profile
NetEase, Inc (NetEase) is a technology company. The Company operates an interactive online community in China and is a provider of Chinese language content and services through its online games, Internet media, e-mail, e-commerce and other businesses. The Company operates through three segments: Online Game Services; Advertising Services, and E-mail, E-commerce and Others.
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