Teachers Retirement System of The State of Kentucky trimmed its stake in shares of NetEase Inc (NASDAQ:NTES) by 9.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 48,700 shares of the technology company’s stock after selling 5,200 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in NetEase were worth $16,805,000 at the end of the most recent reporting period.
Other hedge funds also recently bought and sold shares of the company. TT International purchased a new position in shares of NetEase during the 3rd quarter worth approximately $17,715,000. AXA increased its stake in shares of NetEase by 5.9% during the 3rd quarter. AXA now owns 32,431 shares of the technology company’s stock worth $8,555,000 after purchasing an additional 1,820 shares in the last quarter. Capital International Investors purchased a new position in shares of NetEase during the 3rd quarter worth approximately $180,472,000. Dimensional Fund Advisors LP grew its stake in NetEase by 0.4% in the 3rd quarter. Dimensional Fund Advisors LP now owns 429,555 shares of the technology company’s stock worth $113,230,000 after acquiring an additional 1,894 shares during the period. Finally, Flossbach Von Storch AG grew its stake in NetEase by 116.7% in the 4th quarter. Flossbach Von Storch AG now owns 3,250 shares of the technology company’s stock worth $1,121,000 after acquiring an additional 1,750 shares during the period. Institutional investors own 51.29% of the company’s stock.
Several research firms have commented on NTES. Vetr raised shares of NetEase from a “buy” rating to a “strong-buy” rating and set a $375.44 target price for the company in a research note on Wednesday, January 10th. BidaskClub cut shares of NetEase from a “hold” rating to a “sell” rating in a research note on Thursday, January 11th. Benchmark lowered their target price on shares of NetEase from $360.00 to $340.00 and set a “buy” rating for the company in a research note on Thursday, November 16th. Deutsche Bank set a $334.00 target price on shares of NetEase and gave the stock a “buy” rating in a research note on Thursday, November 16th. Finally, CLSA raised shares of NetEase from a “sell” rating to an “underperform” rating in a research note on Thursday, February 8th. Four investment analysts have rated the stock with a sell rating, six have assigned a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $344.87.
NetEase (NASDAQ:NTES) last announced its quarterly earnings data on Wednesday, February 7th. The technology company reported $1.49 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.52 by ($0.03). NetEase had a net margin of 19.64% and a return on equity of 24.93%. The company had revenue of $2.25 billion for the quarter, compared to analysts’ expectations of $2.27 billion. analysts anticipate that NetEase Inc will post 13.44 EPS for the current year.
NetEase announced that its Board of Directors has initiated a stock buyback plan on Wednesday, November 15th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the technology company to purchase shares of its stock through open market purchases. Shares buyback plans are often a sign that the company’s leadership believes its shares are undervalued.
The business also recently disclosed a quarterly dividend, which was paid on Friday, March 2nd. Stockholders of record on Friday, February 23rd were paid a dividend of $0.38 per share. The ex-dividend date of this dividend was Thursday, February 22nd. This represents a $1.52 annualized dividend and a dividend yield of 0.49%. NetEase’s dividend payout ratio is presently 25.10%.
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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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