Franklin Resources Inc. raised its holdings in NetEase Inc (NASDAQ:NTES) by 32.4% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 1,237,177 shares of the technology company’s stock after buying an additional 302,740 shares during the period. Franklin Resources Inc.’s holdings in NetEase were worth $426,922,000 as of its most recent SEC filing.
A number of other institutional investors have also bought and sold shares of the business. Janney Montgomery Scott LLC raised its stake in NetEase by 2.5% in the third quarter. Janney Montgomery Scott LLC now owns 7,021 shares of the technology company’s stock valued at $1,852,000 after buying an additional 170 shares in the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. raised its stake in NetEase by 1.9% in the fourth quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 10,215 shares of the technology company’s stock valued at $3,493,000 after buying an additional 189 shares in the last quarter. Pacer Advisors Inc. raised its stake in NetEase by 19.3% in the third quarter. Pacer Advisors Inc. now owns 1,187 shares of the technology company’s stock valued at $313,000 after buying an additional 192 shares in the last quarter. Cetera Advisor Networks LLC raised its stake in NetEase by 18.0% in the third quarter. Cetera Advisor Networks LLC now owns 1,556 shares of the technology company’s stock valued at $411,000 after buying an additional 237 shares in the last quarter. Finally, Ladenburg Thalmann Financial Services Inc. raised its stake in NetEase by 117.6% in the third quarter. Ladenburg Thalmann Financial Services Inc. now owns 494 shares of the technology company’s stock valued at $131,000 after buying an additional 267 shares in the last quarter. Institutional investors own 50.99% of the company’s stock.
NetEase Inc (NASDAQ NTES) opened at $312.53 on Friday. The stock has a market capitalization of $41,285.52, a PE ratio of 25.00, a price-to-earnings-growth ratio of 1.76 and a beta of 0.84. NetEase Inc has a twelve month low of $253.20 and a twelve month high of $377.64.
The business also recently declared a quarterly dividend, which was paid on Friday, March 2nd. Investors of record on Friday, February 23rd were issued a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a dividend yield of 0.49%. The ex-dividend date was Thursday, February 22nd. NetEase’s dividend payout ratio is currently 25.10%.
NTES has been the topic of a number of analyst reports. Vetr upgraded NetEase from a “buy” rating to a “strong-buy” rating and set a $362.28 price target on the stock in a research note on Tuesday, December 5th. Zacks Investment Research raised NetEase from a “strong sell” rating to a “hold” rating in a report on Wednesday, January 17th. Bank of America raised their price objective on NetEase from $347.00 to $361.00 and gave the stock a “buy” rating in a report on Friday, November 17th. Deutsche Bank set a $380.00 price objective on NetEase and gave the stock a “buy” rating in a report on Tuesday, January 2nd. Finally, Goldman Sachs Group reaffirmed a “buy” rating and set a $432.00 price objective (up previously from $340.00) on shares of NetEase in a report on Thursday, January 18th. They noted that the move was a valuation call. Four research analysts have rated the stock with a sell rating, six have given a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. NetEase presently has an average rating of “Hold” and a consensus target price of $344.87.
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NetEase Company Profile
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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