Sanders Morris Harris LLC purchased a new stake in NetEase, Inc. (NASDAQ:NTES – Free Report) in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 5,925 shares of the technology company’s stock, valued at approximately $718,000.
Several other institutional investors and hedge funds have also bought and sold shares of NTES. Lazard Asset Management LLC increased its holdings in NetEase by 64.2% in the 1st quarter. Lazard Asset Management LLC now owns 581,720 shares of the technology company’s stock valued at $65,118,000 after buying an additional 227,433 shares during the period. Royal Bank of Canada raised its position in shares of NetEase by 40.8% in the 1st quarter. Royal Bank of Canada now owns 99,814 shares of the technology company’s stock valued at $11,173,000 after buying an additional 28,934 shares in the last quarter. Carrhae Capital LLP lifted its holdings in shares of NetEase by 343.2% during the 2nd quarter. Carrhae Capital LLP now owns 306,577 shares of the technology company’s stock worth $39,285,000 after acquiring an additional 237,410 shares during the period. Bank of America Corp DE increased its stake in NetEase by 111.4% in the first quarter. Bank of America Corp DE now owns 1,325,317 shares of the technology company’s stock valued at $148,356,000 after acquiring an additional 698,318 shares during the last quarter. Finally, Temasek Holdings Private Ltd raised its position in NetEase by 50.7% during the first quarter. Temasek Holdings Private Ltd now owns 708,114 shares of the technology company’s stock valued at $79,266,000 after purchasing an additional 238,386 shares in the last quarter. Institutional investors own 11.07% of the company’s stock.
Insiders Place Their Bets
In other news, VP Aileen Mo sold 716 shares of the company’s stock in a transaction that occurred on Wednesday, September 2nd. The stock was sold at an average price of $120.64, for a total value of $86,378.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 54.70% of the stock is owned by corporate insiders.
NetEase Trading Down 0.8%
NetEase Cuts Dividend
The company also recently disclosed a quarterly dividend, which was paid on Friday, September 18th. Investors of record on Thursday, September 3rd were given a dividend of $0.48 per share. The ex-dividend date was Thursday, September 3rd. This represents a $1.92 dividend on an annualized basis and a yield of 1.6%. This is a decrease from NetEase’s previous quarterly dividend of $0.72. NetEase’s dividend payout ratio is presently 26.31%.
Analyst Upgrades and Downgrades
Several equities research analysts have weighed in on the company. The Goldman Sachs Group set a $169.00 target price on NetEase in a research note on Wednesday, July 1st. Nomura lifted their price target on NetEase from $155.00 to $157.00 and gave the company a “buy” rating in a research note on Tuesday, August 25th. Zacks Research cut NetEase from a “strong-buy” rating to a “hold” rating in a report on Monday, July 27th. Morgan Stanley restated an “overweight” rating and set a $163.00 price objective on shares of NetEase in a research report on Monday, September 28th. Finally, BNP Paribas Exane began coverage on NetEase in a research report on Tuesday, September 22nd. They set an “outperform” rating and a $180.00 price objective for the company. Six equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $159.86.
View Our Latest Research Report on NTES
NetEase Company Profile
NetEase, Inc (NASDAQ: NTES) is a China-based internet technology company founded in 1997 by William Ding, who serves as the company’s chief executive officer and director. The company develops and operates online services for consumers in China and international markets.
NetEase’s primary business is online games, including role-playing, multiplayer, mobile and personal-computer titles. Its portfolio includes franchises such as Fantasy Westward Journey, Westward Journey Online, Knives Out, Identity V and Onmyoji.
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