NewEdge Wealth LLC Acquires 10,266 Shares of NetEase, Inc. (NASDAQ:NTES)

NewEdge Wealth LLC grew its position in NetEase, Inc. (NASDAQ:NTES) by 54.2% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 29,202 shares of the technology company’s stock after buying an additional 10,266 shares during the period. NewEdge Wealth LLC’s holdings in NetEase were worth $2,721,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of NTES. Private Trust Co. NA boosted its holdings in shares of NetEase by 418.9% in the 4th quarter. Private Trust Co. NA now owns 275 shares of the technology company’s stock valued at $26,000 after buying an additional 222 shares in the last quarter. Chilton Capital Management LLC purchased a new position in shares of NetEase in the 4th quarter valued at approximately $37,000. Pinpoint Asset Management Ltd purchased a new position in shares of NetEase in the 1st quarter valued at approximately $42,000. First Capital Advisors Group LLC. purchased a new position in shares of NetEase in the 2nd quarter valued at approximately $47,000. Finally, Headlands Technologies LLC purchased a new position in shares of NetEase in the 3rd quarter valued at approximately $56,000. 11.07% of the stock is currently owned by institutional investors.

NetEase Trading Down 5.1 %

NTES opened at $92.15 on Friday. NetEase, Inc. has a 12-month low of $80.79 and a 12-month high of $118.89. The firm has a market capitalization of $59.41 billion, a PE ratio of 14.56, a P/E/G ratio of 0.80 and a beta of 0.58. The firm has a 50 day moving average of $104.89 and a two-hundred day moving average of $103.47.

NetEase (NASDAQ:NTES) last posted its earnings results on Thursday, February 29th. The technology company reported $1.42 earnings per share for the quarter, missing the consensus estimate of $1.62 by ($0.20). The firm had revenue of $3.82 billion for the quarter, compared to analysts’ expectations of $3.96 billion. NetEase had a net margin of 28.39% and a return on equity of 24.36%. As a group, analysts predict that NetEase, Inc. will post 7.04 EPS for the current fiscal year.

NetEase Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Thursday, March 14th were issued a dividend of $1.08 per share. This represents a $4.32 annualized dividend and a dividend yield of 4.69%. This is a positive change from NetEase’s previous quarterly dividend of $0.50. The ex-dividend date of this dividend was Wednesday, March 13th. NetEase’s payout ratio is 68.09%.

Analysts Set New Price Targets

Several equities analysts recently commented on NTES shares. StockNews.com raised shares of NetEase from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, March 26th. Morgan Stanley decreased their price objective on shares of NetEase from $135.00 to $120.00 and set an “overweight” rating for the company in a research report on Friday. Six equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, NetEase currently has an average rating of “Buy” and an average target price of $126.00.

About NetEase

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.