1 week Ago By ABMN Staff
Asset Dedication LLC decreased its stake in NetEase, Inc. ( NASDAQ:NTES – Free Report ) by 9.8% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission.
The fund owned 2,049 shares of the technology company’s stock after selling 223 shares during the quarter. Asset Dedication LLC’s holdings in NetEase were worth $196,000 as of its most recent SEC filing. Other hedge funds have also recently modified their holdings of the company.
Nordea Investment Management AB boosted its stake in shares of NetEase by 17.2% in the first quarter. Nordea Investment Management AB now owns 318,550 shares of the technology company’s stock worth $33,059,000 after buying an additional 46,635 shares during the last quarter.
Canada Pension Plan Investment Board boosted its stake in shares of NetEase by 12.4% in the first quarter. Canada Pension Plan Investment Board now owns 327,400 shares of the technology company’s stock worth $33,876,000 after buying an additional 36,000 shares during the last quarter.
Lazard Asset Management LLC boosted its stake in shares of NetEase by 804.5% in the first quarter. Lazard Asset Management LLC now owns 792,357 shares of the technology company’s stock worth $81,983,000 after buying an additional 704,753 shares during the last quarter.
Boston Partners purchased a new position in NetEase during the fourth quarter worth approximately $964,000. Finally, Mirae Asset Global Investments Co. Ltd.
boosted its position in NetEase by 6.3% during the first quarter. Mirae Asset Global Investments Co.
Ltd. now owns 278,802 shares of the technology company’s stock worth $28,848,000 after purchasing an additional 16,607 shares in the last quarter. Hedge funds and other institutional investors own 11.
07% of the company’s stock. NetEase Price Performance Shares of NetEase stock opened at $77.58 on Monday.
The business has a 50 day simple moving average of $89.07 and a two-hundred day simple moving average of $95.20.
NetEase, Inc. has a 12 month low of $77.19 and a 12 month high of $118.
89. The stock has a market capitalization of $49.82 billion, a P/E ratio of 12.
03, a PEG ratio of 1.71 and a beta of 0.54.
NetEase Cuts Dividend The business also recently declared a quarterly dividend, which will be paid on Friday, September 20th. Investors of record on Friday, September 6th will be issued a $0.435 dividend.
The ex-dividend date is Friday, September 6th. This represents a $1.74 annualized dividend and a dividend yield of 2.
24%. NetEase’s dividend payout ratio is presently 26.82%.
Wall Street Analyst Weigh In A number of brokerages have issued reports on NTES. StockNews.com downgraded NetEase from a “strong-buy” rating to a “buy” rating in a research report on Saturday, July 20th.
Benchmark increased their price target on NetEase from $144.00 to $145.00 and gave the stock a “buy” rating in a research report on Friday, May 24th.
Bank of America lowered their price target on NetEase from $142.00 to $120.00 and set a “buy” rating on the stock in a research report on Friday, August 23rd.
Jefferies Financial Group lowered their price target on NetEase from $126.00 to $103.00 and set a “buy” rating on the stock in a research report on Thursday, August 22nd.
Finally, Barclays lowered their price target on NetEase from $104.00 to $82.00 and set an “equal weight” rating on the stock in a research report on Monday, August 26th.
Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $112.67.
Check Out Our Latest Stock Analysis on NTES NetEase Company Profile ( Free Report ) 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. Read More Want to see what other hedge funds are holding NTES? Visit HoldingsChannel.
com to get the latest 13F filings and insider trades for NetEase, Inc. ( NASDAQ:NTES – Free Report ). Receive News & Ratings for NetEase Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for NetEase and related companies with MarketBeat.
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