GAM Holding AG cut its holdings in shares of NetEase Inc (NASDAQ:NTES) by 59.6% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 5,001 shares of the technology company’s stock after selling 7,370 shares during the quarter. GAM Holding AG’s holdings in NetEase were worth $1,141,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in NTES. Putnam Investments LLC purchased a new stake in shares of NetEase in the second quarter worth about $19,288,000. Krane Funds Advisors LLC lifted its holdings in shares of NetEase by 64.7% in the second quarter. Krane Funds Advisors LLC now owns 463,651 shares of the technology company’s stock worth $117,151,000 after buying an additional 182,082 shares in the last quarter. Crossmark Global Holdings Inc. lifted its holdings in shares of NetEase by 85.3% in the second quarter. Crossmark Global Holdings Inc. now owns 3,239 shares of the technology company’s stock worth $818,000 after buying an additional 1,491 shares in the last quarter. Perpetual Ltd lifted its holdings in shares of NetEase by 74.2% in the third quarter. Perpetual Ltd now owns 2,261 shares of the technology company’s stock worth $516,000 after buying an additional 963 shares in the last quarter. Finally, First Republic Investment Management Inc. lifted its holdings in shares of NetEase by 34.8% in the second quarter. First Republic Investment Management Inc. now owns 2,097 shares of the technology company’s stock worth $530,000 after buying an additional 541 shares in the last quarter. 45.40% of the stock is currently owned by institutional investors and hedge funds.
A number of brokerages have recently issued reports on NTES. Zacks Investment Research downgraded shares of NetEase from a “hold” rating to a “sell” rating in a report on Friday, November 16th. Morgan Stanley raised shares of NetEase from an “equal weight” rating to an “overweight” rating and set a $300.00 price target on the stock in a report on Thursday. Nomura increased their price target on shares of NetEase from $265.00 to $267.00 and gave the stock a “buy” rating in a report on Friday, November 16th. TheStreet raised shares of NetEase from a “c+” rating to a “b” rating in a report on Friday, August 10th. Finally, ValuEngine raised shares of NetEase from a “hold” rating to a “buy” rating in a report on Thursday, November 1st. Two analysts have rated the stock with a sell rating, two have issued a hold rating, ten have issued a buy rating and two have issued a strong buy rating to the stock. NetEase presently has a consensus rating of “Buy” and an average target price of $298.27.
Shares of NTES opened at $236.61 on Friday. The company has a market capitalization of $31.32 billion, a P/E ratio of 35.91, a P/E/G ratio of 1.61 and a beta of 0.97. NetEase Inc has a 1-year low of $184.60 and a 1-year high of $377.64.
NetEase (NASDAQ:NTES) last announced its earnings results on Wednesday, November 14th. The technology company reported $1.80 earnings per share for the quarter, missing analysts’ consensus estimates of $2.10 by ($0.30). The company had revenue of $2.45 billion during the quarter, compared to analysts’ expectations of $2.42 billion. NetEase had a net margin of 9.22% and a return on equity of 12.66%. The company’s revenue for the quarter was up 30.9% compared to the same quarter last year. During the same period in the prior year, the business earned $3.43 earnings per share. As a group, equities analysts anticipate that NetEase Inc will post 7.04 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Friday, December 7th. Investors of record on Friday, November 30th were paid a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 0.76%. The ex-dividend date was Thursday, November 29th. NetEase’s dividend payout ratio is currently 14.42%.
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NetEase, Inc operates an interactive online community in the People's Republic of China. The company operates through Online Game Services; E-Commerce; Advertising Services; and Email and Others segments. It offers various games in a range of genres through mobile devices and PCs, including role playing games, MMORPGs, battle arena games, simulation games, collectible card games, first-person shooter games, sandbox games, and other types of games to the Chinese market.
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