Amundi Has $49.82 Million Stake in NetEase, Inc. (NASDAQ:NTES)

Amundi trimmed its stake in NetEase, Inc. (NASDAQ:NTES) by 5.1% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 539,891 shares of the technology company’s stock after selling 29,127 shares during the period. Amundi’s holdings in NetEase were worth $49,821,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Assetmark Inc. raised its position in shares of NetEase by 27.3% in the third quarter. Assetmark Inc. now owns 38,469 shares of the technology company’s stock valued at $3,597,000 after purchasing an additional 8,248 shares during the period. WT Asset Management Ltd bought a new position in NetEase in the 4th quarter worth $2,624,000. SG Americas Securities LLC bought a new stake in NetEase during the fourth quarter valued at about $654,000. APEIRON CAPITAL Ltd grew its position in shares of NetEase by 20.5% in the fourth quarter. APEIRON CAPITAL Ltd now owns 129,321 shares of the technology company’s stock valued at $11,537,000 after purchasing an additional 22,000 shares during the last quarter. Finally, Fisher Asset Management LLC increased its stake in shares of NetEase by 7.8% in the third quarter. Fisher Asset Management LLC now owns 1,145,657 shares of the technology company’s stock worth $107,130,000 after purchasing an additional 82,474 shares during the period. 11.07% of the stock is currently owned by institutional investors and hedge funds.

NetEase Price Performance

Shares of NetEase stock opened at $104.88 on Thursday. NetEase, Inc. has a 52-week low of $75.85 and a 52-week high of $111.12. The firm has a market capitalization of $67.35 billion, a PE ratio of 16.46, a price-to-earnings-growth ratio of 3.37 and a beta of 0.61. The company’s fifty day moving average price is $100.29 and its two-hundred day moving average price is $90.91.

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

NetEase Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Thursday, March 6th will be issued a $0.435 dividend. The ex-dividend date is Thursday, March 6th. This represents a $1.74 dividend on an annualized basis and a dividend yield of 1.66%. NetEase’s payout ratio is presently 76.45%.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. Benchmark increased their target price on NetEase from $105.00 to $115.00 and gave the company a “buy” rating in a research note on Friday, February 21st. Barclays raised their price objective on shares of NetEase from $82.00 to $104.00 and gave the stock an “equal weight” rating in a research note on Monday, February 24th. Citigroup upped their target price on shares of NetEase from $108.00 to $115.00 and gave the company a “buy” rating in a research note on Friday, November 15th. Morgan Stanley raised their price target on shares of NetEase from $108.00 to $117.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 12th. Finally, StockNews.com lowered shares of 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 company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $114.57.

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.