Cornerstone Capital Management Holdings LLC. increased its holdings in shares of NetEase Inc (NASDAQ:NTES) by 69.5% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,300,425 shares of the technology company’s stock after purchasing an additional 1,352,700 shares during the quarter. NetEase accounts for approximately 8.0% of Cornerstone Capital Management Holdings LLC.’s portfolio, making the stock its biggest position. Cornerstone Capital Management Holdings LLC. owned about 2.50% of NetEase worth $1,138,877,000 as of its most recent SEC filing.
Other large investors have also modified their holdings of the company. BlackRock Inc. grew its position in NetEase by 5.2% in the 4th quarter. BlackRock Inc. now owns 4,963,150 shares of the technology company’s stock valued at $1,712,636,000 after acquiring an additional 243,978 shares in the last quarter. Orbis Allan Gray Ltd grew its position in NetEase by 32.1% in the 4th quarter. Orbis Allan Gray Ltd now owns 4,119,291 shares of the technology company’s stock valued at $1,421,444,000 after acquiring an additional 1,000,970 shares in the last quarter. Comgest Global Investors S.A.S. grew its position in NetEase by 0.4% in the 4th quarter. Comgest Global Investors S.A.S. now owns 2,274,160 shares of the technology company’s stock valued at $784,745,000 after acquiring an additional 8,377 shares in the last quarter. Central Asset Investments & Management Holdings HK Ltd acquired a new position in NetEase in the 3rd quarter valued at about $2,092,000. Finally, UBS Asset Management Americas Inc. grew its position in shares of NetEase by 179.7% during the fourth quarter. UBS Asset Management Americas Inc. now owns 1,907,384 shares of the technology company’s stock worth $658,181,000 after buying an additional 1,225,421 shares in the last quarter. 51.29% of the stock is owned by hedge funds and other institutional investors.
A number of brokerages have recently commented on NTES. BidaskClub raised NetEase from a “strong sell” rating to a “sell” rating in a research report on Friday. ValuEngine downgraded NetEase from a “buy” rating to a “hold” rating in a research report on Friday, December 1st. Zacks Investment Research raised NetEase from a “sell” rating to a “hold” rating in a research report on Thursday, March 8th. Sanford C. Bernstein set a $285.00 price objective on NetEase and gave the stock a “sell” rating in a research report on Tuesday, February 27th. Finally, Vetr raised NetEase from a “hold” rating to a “buy” rating and set a $359.78 price objective for the company in a research report on Tuesday, November 21st. Four research analysts have rated the stock with a sell rating, six have given a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. NetEase presently has a consensus rating of “Hold” and a consensus price target of $344.87.
NetEase (NASDAQ:NTES) last posted its earnings results on Wednesday, February 7th. The technology company reported $1.49 earnings per share for the quarter, missing the consensus estimate of $1.52 by ($0.03). The business had revenue of $2.25 billion for the quarter, compared to analysts’ expectations of $2.27 billion. NetEase had a return on equity of 11.36% and a net margin of 8.91%. analysts forecast that NetEase Inc will post 13.44 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Friday, March 2nd. Investors of record on Friday, February 23rd were paid a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a yield of 0.48%. The ex-dividend date was Thursday, February 22nd. NetEase’s payout ratio is 23.53%.
NetEase announced that its board has authorized a stock repurchase program on Wednesday, November 15th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the technology company to reacquire shares of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s leadership believes its shares are 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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