Geode Capital Management LLC Acquires 69,010 Shares of NetEase, Inc. (NASDAQ:NTES)

Geode Capital Management LLC lifted its holdings in shares of NetEase, Inc. (NASDAQ:NTES) by 4.6% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 1,581,978 shares of the technology company’s stock after purchasing an additional 69,010 shares during the period. Geode Capital Management LLC owned about 0.24% of NetEase worth $180,917,000 as of its most recent filing with the SEC.

Other hedge funds have also added to or reduced their stakes in the company. Boston Partners boosted its position in NetEase by 3.3% during the 2nd quarter. Boston Partners now owns 667,835 shares of the technology company’s stock valued at $76,944,000 after buying an additional 21,505 shares during the period. Maple Brown Abbott Ltd lifted its position in shares of NetEase by 3.6% in the 2nd quarter. Maple Brown Abbott Ltd now owns 127,128 shares of the technology company’s stock worth $14,651,000 after purchasing an additional 4,362 shares during the period. Mawer Investment Management Ltd. lifted its position in shares of NetEase by 2.3% in the 1st quarter. Mawer Investment Management Ltd. now owns 2,345,339 shares of the technology company’s stock worth $242,180,000 after purchasing an additional 53,081 shares during the period. American Century Companies Inc. lifted its position in shares of NetEase by 6.9% in the 2nd quarter. American Century Companies Inc. now owns 74,025 shares of the technology company’s stock worth $8,531,000 after purchasing an additional 4,751 shares during the period. Finally, Advisors Asset Management Inc. lifted its position in shares of NetEase by 4.2% in the 2nd quarter. Advisors Asset Management Inc. now owns 20,395 shares of the technology company’s stock worth $2,351,000 after purchasing an additional 817 shares during the period. 33.20% of the stock is currently owned by institutional investors.

NTES has been the subject of a number of recent research reports. Citigroup lowered their price target on shares of NetEase from $148.00 to $132.00 and set a “buy” rating for the company in a research report on Wednesday, July 28th. Zacks Investment Research cut shares of NetEase from a “hold” rating to a “sell” rating in a research report on Friday, September 3rd. Finally, HSBC lowered their price target on shares of NetEase from $137.00 to $125.00 and set a “buy” rating for the company in a research report on Wednesday, September 1st. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $129.63.

NASDAQ:NTES opened at $95.73 on Thursday. The firm has a market cap of $64.13 billion, a P/E ratio of 35.85, a P/E/G ratio of 1.26 and a beta of 0.41. NetEase, Inc. has a fifty-two week low of $77.97 and a fifty-two week high of $134.33. The firm has a 50-day simple moving average of $88.19 and a two-hundred day simple moving average of $101.67.

NetEase (NASDAQ:NTES) last released its quarterly earnings data on Monday, August 30th. The technology company reported $6.24 earnings per share for the quarter, beating analysts’ consensus estimates of $0.78 by $5.46. The business had revenue of $20.52 billion during the quarter, compared to analyst estimates of $20.66 billion. NetEase had a net margin of 15.03% and a return on equity of 13.91%. NetEase’s revenue was up 12.9% compared to the same quarter last year. During the same period last year, the business earned $34.58 EPS. Sell-side analysts anticipate that NetEase, Inc. will post 3.39 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 30th. Shareholders of record on Tuesday, September 14th were paid a dividend of $0.24 per share. This is a positive change from NetEase’s previous quarterly dividend of $0.06. This represents a $0.96 dividend on an annualized basis and a yield of 1.00%. The ex-dividend date of this dividend was Monday, September 13th. NetEase’s dividend payout ratio (DPR) is currently 34.42%.

NetEase Company Profile

NetEase, Inc is an internet technology company, which premium online services centered around content, community, communication and commerce. It develops and operates some of the most popular PC-client and mobile games in China. The firm also operates some of the most popular international online games in China by partnering with Blizzard Entertainment, Mojang AB (a Microsoft subsidiary) and other global game developers.

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Institutional Ownership by Quarter for NetEase (NASDAQ:NTES)

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