National Bank of Canada FI Purchases Shares of 557,226 NetEase, Inc. (NASDAQ:NTES)

National Bank of Canada FI acquired a new position in NetEase, Inc. (NASDAQ:NTES) during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 557,226 shares of the technology company’s stock, valued at approximately $49,710,000. National Bank of Canada FI owned approximately 0.09% of NetEase as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Greenwoods Asset Management Hong Kong Ltd. raised its position in NetEase by 10.8% in the fourth quarter. Greenwoods Asset Management Hong Kong Ltd. now owns 3,632,870 shares of the technology company’s stock worth $324,088,000 after acquiring an additional 354,273 shares in the last quarter. Arrowstreet Capital Limited Partnership raised its holdings in shares of NetEase by 2.8% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 2,016,465 shares of the technology company’s stock worth $179,889,000 after purchasing an additional 54,899 shares in the last quarter. Wellington Management Group LLP boosted its holdings in NetEase by 1.1% during the third quarter. Wellington Management Group LLP now owns 1,020,213 shares of the technology company’s stock worth $95,400,000 after buying an additional 10,920 shares in the last quarter. Mawer Investment Management Ltd. bought a new position in shares of NetEase in the fourth quarter valued at $62,593,000. Finally, Davis Selected Advisers purchased a new position in NetEase in the 4th quarter worth about $53,287,000. Institutional investors and hedge funds own 11.07% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently weighed in on NTES shares. StockNews.com downgraded shares of NetEase from a “strong-buy” rating to a “buy” rating in a report on Friday, December 6th. Bank of America lifted their target price on shares of NetEase from $120.00 to $122.00 and gave the stock a “buy” rating in a report on Wednesday, January 15th. Morgan Stanley upped their price target on shares of NetEase from $108.00 to $117.00 and gave the company an “overweight” rating in a report on Wednesday, February 12th. Barclays lifted their price objective on NetEase from $82.00 to $104.00 and gave the stock an “equal weight” rating in a research note on Monday, February 24th. Finally, 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. One analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $114.57.

NetEase Trading Up 3.3 %

Shares of NASDAQ:NTES opened at $106.35 on Wednesday. The business’s 50 day moving average is $102.22 and its 200-day moving average is $93.18. The firm has a market capitalization of $68.29 billion, a PE ratio of 16.70, a PEG ratio of 3.37 and a beta of 0.61. NetEase, Inc. has a 1-year low of $75.85 and a 1-year high of $110.15.

NetEase (NASDAQ:NTES) last announced 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 firm had revenue of $3.66 billion for the quarter, compared to analyst estimates of $27.16 billion. NetEase had a net margin of 28.17% and a return on equity of 22.12%. On average, sell-side analysts predict that NetEase, Inc. will post 6.91 EPS for the current year.

NetEase Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Thursday, March 6th were paid a dividend of $0.435 per share. This represents a $1.74 dividend on an annualized basis and a yield of 1.64%. The ex-dividend date was Thursday, March 6th. NetEase’s dividend payout ratio is 76.45%.

NetEase Company 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.