Guinness Asset Management LTD Raises Stock Holdings in NetEase, Inc. (NASDAQ:NTES)

Guinness Asset Management LTD raised its stake in shares of NetEase, Inc. (NASDAQ:NTES) by 16.7% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 86,741 shares of the technology company’s stock after purchasing an additional 12,410 shares during the period. Guinness Asset Management LTD’s holdings in NetEase were worth $8,111,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also bought and sold shares of the company. Wellington Management Group LLP raised its stake in shares of NetEase by 226.4% during the 4th quarter. Wellington Management Group LLP now owns 1,896,495 shares of the technology company’s stock worth $176,677,000 after acquiring an additional 1,315,410 shares in the last quarter. Price T Rowe Associates Inc. MD acquired a new position in shares of NetEase in the 1st quarter valued at $103,658,000. Lazard Asset Management LLC grew its position in shares of NetEase by 804.5% during the 1st quarter. Lazard Asset Management LLC now owns 792,357 shares of the technology company’s stock valued at $81,983,000 after acquiring an additional 704,753 shares during the period. Point72 Hong Kong Ltd lifted its position in shares of NetEase by 109.0% during the 2nd quarter. Point72 Hong Kong Ltd now owns 1,213,323 shares of the technology company’s stock valued at $115,969,000 after buying an additional 632,896 shares in the last quarter. Finally, Broad Peak Investment Holdings Ltd. acquired a new stake in shares of NetEase in the first quarter valued at about $34,662,000. Institutional investors own 11.07% of the company’s stock.

NetEase Price Performance

Shares of NTES stock traded up $0.27 during trading on Friday, reaching $88.35. The company’s stock had a trading volume of 1,258,024 shares, compared to its average volume of 1,768,752. The stock’s 50-day moving average price is $86.05 and its 200 day moving average price is $91.78. The company has a market capitalization of $56.73 billion, a price-to-earnings ratio of 13.70, a P/E/G ratio of 1.96 and a beta of 0.55. NetEase, Inc. has a 1-year low of $75.85 and a 1-year high of $118.89.

NetEase (NASDAQ:NTES) last announced its quarterly earnings data on Thursday, August 22nd. The technology company reported $12.05 EPS for the quarter, topping analysts’ consensus estimates of $1.62 by $10.43. The business had revenue of $25.49 billion during the quarter, compared to the consensus estimate of $26.01 billion. NetEase had a return on equity of 22.30% and a net margin of 26.98%. The business’s revenue for the quarter was up 6.1% on a year-over-year basis. During the same period in the previous year, the company posted $1.75 earnings per share. On average, sell-side analysts anticipate that NetEase, Inc. will post 6.05 EPS for the current fiscal year.

NetEase Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 20th. Investors of record on Friday, September 6th were paid a dividend of $0.435 per share. The ex-dividend date was Friday, September 6th. This represents a $1.74 dividend on an annualized basis and a dividend yield of 1.97%. NetEase’s payout ratio is currently 26.82%.

Analyst Upgrades and Downgrades

Several research firms have commented on NTES. Barclays cut their price objective on NetEase from $104.00 to $82.00 and set an “equal weight” rating for the company in a research note on Monday, August 26th. Morgan Stanley reiterated an “equal weight” rating and set a $100.00 price target on shares of NetEase in a report on Friday, July 5th. Jefferies Financial Group reduced their target price on shares of NetEase from $126.00 to $103.00 and set a “buy” rating on the stock in a research note on Thursday, August 22nd. StockNews.com lowered shares of NetEase from a “strong-buy” rating to a “buy” rating in a research report on Saturday, July 20th. Finally, Bank of America lowered their price objective on NetEase from $142.00 to $120.00 and set a “buy” rating for the company in a research report on Friday, August 23rd. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $112.67.

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.