Bank of Montreal Can bought a new stake in shares of NetEase Inc. (NASDAQ:NTES) during the second quarter, according to its most recent disclosure with the SEC. The institutional investor bought 188,903 shares of the company’s stock, valued at approximately $36,500,000.
Other hedge funds have also recently modified their holdings of the company. Shell Asset Management Co. raised its stake in NetEase by 29.4% in the second quarter. Shell Asset Management Co. now owns 46,040 shares of the company’s stock worth $8,896,000 after buying an additional 10,462 shares during the last quarter. Daiwa Securities Group Inc. raised its stake in NetEase by 133.3% in the second quarter. Daiwa Securities Group Inc. now owns 2,800 shares of the company’s stock worth $541,000 after buying an additional 1,600 shares during the last quarter. Highstreet Asset Management Inc. bought a new stake in NetEase during the second quarter worth about $385,000. 1st Global Advisors Inc. raised its stake in NetEase by 2.6% in the second quarter. 1st Global Advisors Inc. now owns 1,950 shares of the company’s stock worth $377,000 after buying an additional 49 shares during the last quarter. Finally, New Century Investment Management Inc. raised its stake in NetEase by 5.8% in the second quarter. New Century Investment Management Inc. now owns 19,046 shares of the company’s stock worth $3,680,000 after buying an additional 1,046 shares during the last quarter. Hedge funds and other institutional investors own 59.71% of the company’s stock.
Shares of NetEase Inc. (NASDAQ:NTES) traded down 1.84% during midday trading on Friday, reaching $247.42. The company had a trading volume of 1,019,826 shares. The stock has a 50-day moving average of $219.49 and a 200 day moving average of $177.30. NetEase Inc. has a 52 week low of $112.08 and a 52 week high of $254.48. The firm has a market capitalization of $32.44 billion, a price-to-earnings ratio of 23.67 and a beta of 1.29.
NetEase (NASDAQ:NTES) last posted its quarterly earnings results on Wednesday, August 17th. The company reported $3.67 EPS for the quarter, beating the Zacks’ consensus estimate of $2.61 by $1.06. NetEase had a return on equity of 31.47% and a net margin of 29.34%. On average, analysts anticipate that NetEase Inc. will post $12.40 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Friday, September 9th. Shareholders of record on Wednesday, August 31st were issued a dividend of $0.78 per share. The ex-dividend date was Monday, August 29th. This is a boost from NetEase’s previous quarterly dividend of $0.73. This represents a $3.12 dividend on an annualized basis and a yield of 1.26%. NetEase’s dividend payout ratio (DPR) is currently 25.14%.
NTES has been the subject of several recent analyst reports. Vetr cut NetEase from a “sell” rating to a “strong sell” rating and set a $210.98 target price for the company. in a research report on Monday, September 19th. Deutsche Bank AG boosted their target price on NetEase from $190.00 to $207.00 and gave the stock a “buy” rating in a research report on Friday, June 24th. Brean Capital restated a “buy” rating on shares of NetEase in a research report on Tuesday, August 2nd. Credit Suisse Group AG initiated coverage on NetEase in a research report on Friday, August 19th. They set a “neutral” rating and a $230.00 target price for the company. Finally, Zacks Investment Research upgraded NetEase from a “hold” rating to a “strong-buy” rating and set a $244.00 target price for the company in a research report on Tuesday, August 23rd. Three analysts have rated the stock with a sell rating, two have assigned a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $197.54.
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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