Ameriprise Financial Inc. cut its stake in shares of NetEase Inc. (NASDAQ:NTES) by 2.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 64,261 shares of the company’s stock after selling 1,863 shares during the period. Ameriprise Financial Inc.’s holdings in NetEase were worth $12,400,000 as of its most recent SEC filing.
Several other large investors have also recently made changes to their positions in the stock. Oasis Management Co Ltd. purchased a new stake in shares of NetEase during the first quarter valued at $201,000. Janney Montgomery Scott LLC purchased a new stake in shares of NetEase during the second quarter valued at $236,000. Value Partners Ltd. ADV purchased a new stake in shares of NetEase during the first quarter valued at $259,000. OLD National Bancorp IN increased its stake in shares of NetEase by 4.6% in the first quarter. OLD National Bancorp IN now owns 1,918 shares of the company’s stock valued at $275,000 after buying an additional 85 shares in the last quarter. Finally, Alpine Partners VI LLC purchased a new stake in shares of NetEase during the first quarter valued at $283,000. 59.71% of the stock is currently owned by institutional investors and hedge funds.
NetEase Inc. (NASDAQ:NTES) traded down 0.29% during mid-day trading on Wednesday, hitting $243.43. 350,633 shares of the stock were exchanged. The company has a 50 day moving average of $221.87 and a 200 day moving average of $179.31. The firm has a market cap of $31.92 billion, a P/E ratio of 23.29 and a beta of 1.29. NetEase Inc. has a 12-month low of $116.01 and a 12-month high of $254.48.
NetEase (NASDAQ:NTES) last announced its quarterly earnings results on Wednesday, August 17th. The company reported $3.67 earnings per share for the quarter, beating the consensus estimate of $2.61 by $1.06. NetEase had a net margin of 29.34% and a return on equity of 31.47%. On average, equities analysts anticipate that NetEase Inc. will post $12.40 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, September 9th. Stockholders of record on Wednesday, August 31st were given a dividend of $0.78 per share. This is a boost from NetEase’s previous quarterly dividend of $0.73. The ex-dividend date of this dividend was Monday, August 29th. This represents a $3.12 annualized dividend and a dividend yield of 1.28%. NetEase’s payout ratio is presently 25.14%.
Several equities research analysts have recently weighed in on NTES shares. Brean Capital reissued a “buy” rating on shares of NetEase in a research note on Wednesday, August 31st. Deutsche Bank AG raised their price target on shares of NetEase from $190.00 to $207.00 and gave the stock a “buy” rating in a research note on Friday, June 24th. Zacks Investment Research raised shares of NetEase from a “hold” rating to a “buy” rating and set a $232.00 price target on the stock in a research note on Thursday, July 28th. Vetr downgraded shares of NetEase from a “buy” rating to a “hold” rating and set a $212.23 price target on the stock. in a research note on Monday, August 15th. Finally, Credit Suisse Group AG began coverage on shares of NetEase in a research note on Friday, August 19th. They issued a “neutral” rating and a $230.00 price target on the stock. Three equities research analysts have rated the stock with a sell rating, two have issued a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. NetEase currently has a consensus rating of “Buy” and a consensus target price of $198.13.
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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