NetEase, Inc. (NASDAQ:NTES) Stock Position Cut by Genesis Investment Management LLP

Genesis Investment Management LLP cut its position in shares of NetEase, Inc. (NASDAQ:NTES) by 32.8% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 510,024 shares of the technology company’s stock after selling 248,612 shares during the period. NetEase accounts for 9.3% of Genesis Investment Management LLP’s holdings, making the stock its 4th biggest position. Genesis Investment Management LLP owned about 0.08% of NetEase worth $47,514,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the company. WCM Investment Management LLC purchased a new position in NetEase during the fourth quarter valued at $747,000. Simplicity Solutions LLC purchased a new position in shares of NetEase in the fourth quarter worth about $215,000. NewEdge Wealth LLC lifted its stake in shares of NetEase by 54.2% in the fourth quarter. NewEdge Wealth LLC now owns 29,202 shares of the technology company’s stock worth $2,721,000 after buying an additional 10,266 shares in the last quarter. Cerity Partners LLC lifted its stake in shares of NetEase by 15.4% in the fourth quarter. Cerity Partners LLC now owns 5,813 shares of the technology company’s stock worth $542,000 after buying an additional 775 shares in the last quarter. Finally, Financial Counselors Inc. lifted its stake in shares of NetEase by 4.1% in the fourth quarter. Financial Counselors Inc. now owns 3,195 shares of the technology company’s stock worth $298,000 after buying an additional 125 shares in the last quarter. 11.07% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on NTES. Morgan Stanley decreased their price target on shares of NetEase from $135.00 to $120.00 and set an “overweight” rating on the stock in a research note on Friday, April 12th. StockNews.com raised shares of NetEase from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, March 26th. Six research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, NetEase presently has an average rating of “Buy” and an average target price of $126.00.

NetEase Price Performance

Shares of NTES stock traded down $0.21 during trading on Wednesday, reaching $90.21. The company’s stock had a trading volume of 457,001 shares, compared to its average volume of 1,744,185. The company has a market capitalization of $58.16 billion, a price-to-earnings ratio of 14.28, a P/E/G ratio of 0.84 and a beta of 0.58. The stock’s 50-day moving average price is $104.38 and its 200 day moving average price is $103.39. NetEase, Inc. has a 1-year low of $80.79 and a 1-year high of $118.89.

NetEase (NASDAQ:NTES) last issued its quarterly earnings results on Thursday, February 29th. The technology company reported $1.42 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.62 by ($0.20). NetEase had a return on equity of 24.36% and a net margin of 28.39%. The firm had revenue of $3.82 billion during the quarter, compared to analysts’ expectations of $3.96 billion. On average, sell-side analysts anticipate that NetEase, Inc. will post 7.04 EPS for the current fiscal year.

NetEase Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Thursday, March 14th were given a dividend of $1.08 per share. This represents a $4.32 annualized dividend and a dividend yield of 4.79%. The ex-dividend date of this dividend was Wednesday, March 13th. This is an increase from NetEase’s previous quarterly dividend of $0.50. NetEase’s payout ratio is currently 68.09%.

NetEase Company Profile

NetEase, Inc engages in online games, music streaming, online intelligent learning services, and internet content services businesses in China and internationally . The company operates through Games and Related Value-Added Services, Youdao, Cloud Music, and Innovative Businesses and Others segments.