NetEase, Inc. (NASDAQ:NTES) Stake Lowered by Alberta Investment Management Corp

Alberta Investment Management Corp cut its stake in shares of NetEase, Inc. (NASDAQ:NTES) by 95.0% in the 4th quarter, Holdings Channel reports. The firm owned 3,400 shares of the technology company’s stock after selling 64,804 shares during the quarter. Alberta Investment Management Corp’s holdings in NetEase were worth $303,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently made changes to their positions in NTES. Brooklyn Investment Group acquired a new position in shares of NetEase during the fourth quarter worth approximately $34,000. UMB Bank n.a. boosted its position in shares of NetEase by 33.3% during the fourth quarter. UMB Bank n.a. now owns 444 shares of the technology company’s stock worth $40,000 after buying an additional 111 shares during the period. Highline Wealth Partners LLC acquired a new position in shares of NetEase during the third quarter worth approximately $45,000. RPg Family Wealth Advisory LLC acquired a new position in shares of NetEase during the third quarter worth approximately $70,000. Finally, Allspring Global Investments Holdings LLC acquired a new position in shares of NetEase during the third quarter worth approximately $76,000. 11.07% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on NTES shares. Benchmark boosted their price objective on NetEase from $105.00 to $115.00 and gave the stock a “buy” rating in a research report on Friday. Citigroup boosted their price objective on NetEase from $108.00 to $115.00 and gave the stock a “buy” rating in a research report on Friday, November 15th. Morgan Stanley boosted their price objective on NetEase from $108.00 to $117.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 12th. Bank of America upped their target price on NetEase from $120.00 to $122.00 and gave the stock a “buy” rating in a research report on Wednesday, January 15th. Finally, StockNews.com downgraded NetEase from a “strong-buy” rating to a “buy” rating in a research report on Friday, December 6th. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, NetEase presently has a consensus rating of “Moderate Buy” and a consensus target price of $111.43.

NetEase Price Performance

NTES opened at $103.22 on Friday. The company has a market capitalization of $66.28 billion, a price-to-earnings ratio of 16.20, a price-to-earnings-growth ratio of 3.37 and a beta of 0.58. NetEase, Inc. has a 1-year low of $75.85 and a 1-year high of $114.50. The business has a 50 day moving average price of $97.77 and a two-hundred day moving average price of $89.77.

NetEase (NASDAQ:NTES) last posted its quarterly earnings results on Thursday, February 20th. The technology company reported $1.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.73 by $0.14. The company had revenue of $3.66 billion for the quarter, compared to analysts’ expectations of $27.16 billion. NetEase had a return on equity of 22.12% and a net margin of 28.17%. Equities analysts expect that NetEase, Inc. will post 6.91 EPS for the current fiscal year.

NetEase Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Thursday, March 6th will be issued a $0.435 dividend. The ex-dividend date of this dividend is Thursday, March 6th. This represents a $1.74 annualized dividend and a dividend yield of 1.69%. NetEase’s dividend payout ratio is currently 76.61%.

NetEase 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.