Prospera Financial Services Inc purchased a new stake in NetEase, Inc. (NASDAQ:NTES – Free Report) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 10,195 shares of the technology company’s stock, valued at approximately $1,403,000.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in shares of NetEase by 68,860.6% during the third quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 8,551,117 shares of the technology company’s stock worth $1,299,684,000 after purchasing an additional 8,538,717 shares during the last quarter. Fisher Asset Management LLC raised its stake in shares of NetEase by 4.7% during the third quarter. Fisher Asset Management LLC now owns 1,133,052 shares of the technology company’s stock worth $172,213,000 after purchasing an additional 50,861 shares during the last quarter. Man Group plc raised its stake in shares of NetEase by 7.3% during the third quarter. Man Group plc now owns 1,055,122 shares of the technology company’s stock worth $160,368,000 after purchasing an additional 71,966 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in shares of NetEase by 15.4% during the third quarter. Dimensional Fund Advisors LP now owns 841,623 shares of the technology company’s stock worth $127,823,000 after purchasing an additional 112,001 shares during the last quarter. Finally, American Century Companies Inc. raised its stake in shares of NetEase by 7.3% during the third quarter. American Century Companies Inc. now owns 803,379 shares of the technology company’s stock worth $122,106,000 after purchasing an additional 54,929 shares during the last quarter. 11.07% of the stock is owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
A number of brokerages recently weighed in on NTES. Nomura dropped their price objective on NetEase from $160.00 to $155.00 and set a “buy” rating on the stock in a report on Friday, February 13th. Wall Street Zen raised NetEase from a “hold” rating to a “buy” rating in a report on Saturday, May 23rd. Citigroup reissued a “buy” rating on shares of NetEase in a report on Wednesday, February 11th. Benchmark reissued a “buy” rating on shares of NetEase in a report on Friday, May 22nd. Finally, Morgan Stanley reissued an “overweight” rating and issued a $158.00 target price on shares of NetEase in a report on Tuesday. Seven analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, NetEase has a consensus rating of “Moderate Buy” and an average price target of $157.38.
NetEase Stock Up 0.5%
NTES opened at $123.92 on Thursday. The firm has a market cap of $78.51 billion, a P/E ratio of 16.46, a PEG ratio of 1.71 and a beta of 0.72. NetEase, Inc. has a 52 week low of $106.06 and a 52 week high of $159.55. The business’s fifty day simple moving average is $114.76 and its 200 day simple moving average is $125.71.
NetEase Cuts Dividend
The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 18th. Investors of record on Friday, June 5th will be given a dividend of $0.72 per share. The ex-dividend date is Friday, June 5th. This represents a $2.88 annualized dividend and a yield of 2.3%. NetEase’s dividend payout ratio is 38.11%.
NetEase Company Profile
NetEase, Inc (NASDAQ: NTES) is a Chinese technology company headquartered in Hangzhou that develops and operates Internet services and products. Founded in 1997 by William Ding (Ding Lei), the company has grown from an early web portal and e-mail provider into a diversified online services group. William Ding has served as the company’s founder and long-time leader, guiding its expansion into games, digital content and consumer services.
The company’s primary business is interactive entertainment: NetEase Games designs, develops and publishes PC and mobile games for domestic and international audiences, offering a mix of self-developed franchises and titles published under licensing and strategic partnerships.
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