Pitcairn Co. Buys New Position in NetEase, Inc. (NASDAQ:NTES)

Pitcairn Co. purchased a new position in NetEase, Inc. (NASDAQ:NTES) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 6,533 shares of the technology company’s stock, valued at approximately $676,000.

Other large investors have also modified their holdings of the company. Private Trust Co. NA boosted its stake in NetEase by 418.9% in the 4th quarter. Private Trust Co. NA now owns 275 shares of the technology company’s stock worth $26,000 after purchasing an additional 222 shares in the last quarter. Chilton Capital Management LLC purchased a new position in shares of NetEase in the fourth quarter worth $37,000. USA Financial Formulas raised its holdings in shares of NetEase by 1,153.1% in the fourth quarter. USA Financial Formulas now owns 401 shares of the technology company’s stock worth $37,000 after buying an additional 369 shares during the last quarter. UMB Bank n.a. acquired a new stake in shares of NetEase during the first quarter worth $50,000. Finally, ORG Partners LLC purchased a new stake in shares of NetEase during the first quarter valued at $50,000. Hedge funds and other institutional investors own 11.07% of the company’s stock.

Analyst Ratings Changes

A number of analysts have commented on NTES shares. StockNews.com cut NetEase from a “strong-buy” rating to a “buy” rating in a research report on Saturday, July 20th. Benchmark lifted their target price on NetEase from $144.00 to $145.00 and gave the stock a “buy” rating in a report on Friday, May 24th. Barclays initiated coverage on shares of NetEase in a report on Thursday, June 13th. They issued an “equal weight” rating and a $104.00 price target on the stock. Morgan Stanley restated an “equal weight” rating and set a $100.00 price objective on shares of NetEase in a research note on Friday, July 5th. Finally, HSBC cut their price objective on shares of NetEase from $130.00 to $126.00 and set a “buy” rating on the stock in a research note on Wednesday, April 24th. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $123.86.

NetEase Price Performance

Shares of NASDAQ NTES opened at $95.45 on Friday. The stock has a market capitalization of $61.29 billion, a price-to-earnings ratio of 14.80, a PEG ratio of 1.88 and a beta of 0.53. The firm’s 50 day simple moving average is $93.37 and its 200-day simple moving average is $98.00. NetEase, Inc. has a 12 month low of $81.30 and a 12 month high of $118.89.

NetEase (NASDAQ:NTES) last released its quarterly earnings data on Thursday, May 23rd. The technology company reported $1.63 earnings per share for the quarter, missing analysts’ consensus estimates of $1.68 by ($0.05). The firm had revenue of $3.72 billion during the quarter, compared to analysts’ expectations of $3.61 billion. NetEase had a net margin of 28.75% and a return on equity of 24.19%. Analysts anticipate that NetEase, Inc. will post 6.68 earnings per share for the current fiscal year.

NetEase Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 21st. Investors of record on Thursday, June 6th were paid a $0.495 dividend. The ex-dividend date of this dividend was Thursday, June 6th. This represents a $1.98 annualized dividend and a dividend yield of 2.07%. NetEase’s dividend payout ratio is presently 30.54%.

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.