Overlook Holdings Ltd reduced its position in shares of NetEase Inc. (NASDAQ:NTES) by 8.3% during the third quarter, according to its most recent filing with the SEC. The fund owned 1,180,759 shares of the company’s stock after selling 106,800 shares during the period. NetEase makes up approximately 65.7% of Overlook Holdings Ltd’s portfolio, making the stock its largest position. Overlook Holdings Ltd’s holdings in NetEase were worth $284,350,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in NTES. AXA boosted its position in shares of NetEase by 60.0% in the second quarter. AXA now owns 800 shares of the company’s stock worth $155,000 after buying an additional 300 shares during the period. Advisor Group Inc. bought a new position in shares of NetEase during the second quarter worth about $200,000. Oasis Management Co Ltd. bought a new position in shares of NetEase during the first quarter worth about $201,000. HBK Sorce Advisory LLC bought a new position in shares of NetEase during the second quarter worth about $232,000. Finally, Janney Montgomery Scott LLC bought a new position in shares of NetEase during the second quarter worth about $236,000. 59.71% of the stock is currently owned by institutional investors and hedge funds.
NetEase Inc. (NASDAQ:NTES) opened at 244.86 on Tuesday. The stock has a market capitalization of $32.10 billion, a price-to-earnings ratio of 23.42 and a beta of 1.03. NetEase Inc. has a 12-month low of $124.87 and a 12-month high of $254.48. The stock’s 50 day moving average is $226.63 and its 200 day moving average is $182.04.
NetEase (NASDAQ:NTES) last posted its earnings results on Wednesday, August 17th. The company reported $3.67 earnings per share for the quarter, topping analysts’ consensus estimates of $2.61 by $1.06. NetEase had a net margin of 29.34% and a return on equity of 31.47%. Equities analysts predict that NetEase Inc. will post $12.52 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Friday, September 9th. Stockholders of record on Wednesday, August 31st were issued a $0.78 dividend. The ex-dividend date was Monday, August 29th. This is an increase from NetEase’s previous quarterly dividend of $0.73. This represents a $3.12 dividend on an annualized basis and a dividend yield of 1.27%. NetEase’s payout ratio is 25.14%.
A number of research analysts have recently issued reports on the company. Credit Agricole SA raised NetEase from an “underperform” rating to an “outperform” rating and set a $272.00 price objective on the stock in a research note on Monday. Vetr raised NetEase from a “hold” rating to a “buy” rating and set a $266.16 price objective on the stock in a research note on Monday. Brean Capital reaffirmed a “buy” rating on shares of NetEase in a research note on Tuesday, August 2nd. Zacks Investment Research cut NetEase from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 27th. Finally, Deutsche Bank AG raised their price objective on NetEase from $190.00 to $207.00 and gave the company a “buy” rating in a research note on Friday, June 24th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $221.08.
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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