ClariVest Asset Management LLC reduced its stake in shares of NetEase Inc. (NASDAQ:NTES) by 1.3% during the second quarter, Holdings Channel reports. The institutional investor owned 79,550 shares of the company’s stock after selling 1,047 shares during the period. ClariVest Asset Management LLC’s holdings in NetEase were worth $15,371,000 as of its most recent filing with the SEC.
Several other hedge funds have also recently modified their holdings of NTES. Ariose Capital Management Ltd bought a new position in NetEase during the second quarter worth about $23,018,000. 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 period. Cardan Capital Partners LLC increased its position in NetEase by 1.4% in the second quarter. Cardan Capital Partners LLC now owns 20,576 shares of the company’s stock worth $3,976,000 after buying an additional 278 shares during the period. British Airways Pensions Investment Management Ltd bought a new position in NetEase during the second quarter worth about $5,793,000. Finally, Tairen Capital Ltd bought a new position in NetEase during the second quarter worth about $5,004,000. Institutional investors own 59.71% of the company’s stock.
Shares of NetEase Inc. (NASDAQ:NTES) traded up 3.16% during midday trading on Thursday, reaching $255.98. 1,080,774 shares of the company’s stock were exchanged. The firm has a 50 day moving average of $228.69 and a 200-day moving average of $183.24. NetEase Inc. has a one year low of $126.62 and a one year high of $256.74. The stock has a market cap of $33.56 billion, a price-to-earnings ratio of 24.49 and a beta of 1.04.
NetEase (NASDAQ:NTES) last announced its earnings results on Wednesday, August 17th. The company reported $3.67 earnings per share for the quarter, beating the Zacks’ 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 research analysts anticipate that NetEase Inc. will post $12.52 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, September 9th. Shareholders of record on Wednesday, August 31st were paid a dividend of $0.78 per share. This is an increase from NetEase’s previous quarterly dividend of $0.73. The ex-dividend date was Monday, August 29th. This represents a $3.12 dividend on an annualized basis and a dividend yield of 1.22%. NetEase’s dividend payout ratio (DPR) is currently 25.14%.
A number of equities analysts have issued reports on NTES shares. Jefferies Group started coverage on NetEase in a research note on Thursday, September 29th. They set a “hold” rating and a $245.00 price target for the company. Credit Suisse Group AG started coverage on NetEase in a research note on Friday, August 19th. They set a “neutral” rating and a $230.00 price target for the company. Credit Agricole SA upgraded NetEase from an “underperform” rating to an “outperform” rating and set a $272.00 price target for the company in a research note on Monday. Deutsche Bank AG lifted their price target on NetEase from $190.00 to $207.00 and gave the company a “buy” rating in a research note on Friday, June 24th. Finally, Vetr upgraded NetEase from a “strong sell” rating to a “sell” rating and set a $218.71 price target for the company in a research note on Monday, September 26th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company’s 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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