Principal Financial Group Inc. cut its position in NetEase Inc. (NASDAQ:NTES) by 71.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 85,150 shares of the company’s stock after selling 208,901 shares during the period. Principal Financial Group Inc. owned 0.06% of NetEase worth $16,453,000 as of its most recent SEC filing.
Several other institutional investors have also bought and sold shares of the company. Orbis Allan Gray Ltd acquired a new position in NetEase during the first quarter worth about $1,449,733,000. Lazard Asset Management LLC increased its position in NetEase by 0.4% in the first quarter. Lazard Asset Management LLC now owns 5,028,755 shares of the company’s stock worth $722,028,000 after buying an additional 21,375 shares during the last quarter. Comgest Global Investors S.A.S. increased its position in NetEase by 0.4% in the second quarter. Comgest Global Investors S.A.S. now owns 2,921,119 shares of the company’s stock worth $564,418,000 after buying an additional 12,423 shares during the last quarter. Renaissance Technologies LLC increased its position in NetEase by 9.6% in the first quarter. Renaissance Technologies LLC now owns 2,187,700 shares of the company’s stock worth $314,110,000 after buying an additional 191,600 shares during the last quarter. Finally, BlackRock Institutional Trust Company N.A. increased its position in NetEase by 17.8% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 1,320,917 shares of the company’s stock worth $189,657,000 after buying an additional 199,253 shares during the last quarter. 59.71% of the stock is currently owned by institutional investors.
NetEase Inc. (NASDAQ:NTES) traded down 0.59% on Thursday, hitting $246.66. 124,029 shares of the company were exchanged. The stock’s 50-day moving average price is $228.69 and its 200-day moving average price is $183.24. NetEase Inc. has a 52-week low of $126.62 and a 52-week high of $254.48. The stock has a market capitalization of $32.34 billion, a P/E ratio of 23.60 and a beta of 1.04.
NetEase (NASDAQ:NTES) last issued its earnings results on Wednesday, August 17th. The company reported $3.67 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.61 by $1.06. NetEase had a return on equity of 31.47% and a net margin of 29.34%. On average, equities research analysts anticipate that NetEase Inc. will post $12.52 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Friday, September 9th. Shareholders of record on Wednesday, August 31st were paid 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 1.26%. NetEase’s dividend payout ratio (DPR) is 25.14%.
A number of research firms have commented on NTES. Zacks Investment Research upgraded shares of NetEase from a “hold” rating to a “buy” rating and set a $232.00 target price on the stock in a research note on Thursday, July 28th. Vetr cut shares of NetEase from a “sell” rating to a “strong sell” rating and set a $210.98 target price on the stock. in a research note on Monday, September 19th. Brean Capital restated a “buy” rating on shares of NetEase in a research note on Tuesday, August 2nd. Finally, Macquarie raised their target price on shares of NetEase from $256.00 to $280.00 and gave the stock an “outperform” rating in a research note on Wednesday, September 28th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. NetEase has an average rating of “Buy” and an average price target 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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