New Silk Road Investment PTE Ltd. bought a new position in NetEase, Inc. (NASDAQ:NTES – Get Rating) during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 12,579 shares of the technology company’s stock, valued at approximately $951,000. NetEase makes up approximately 1.3% of New Silk Road Investment PTE Ltd.’s investment portfolio, making the stock its 16th biggest position.
Other large investors have also recently modified their holdings of the company. FMR LLC boosted its holdings in shares of NetEase by 7.8% in the second quarter. FMR LLC now owns 3,870,191 shares of the technology company’s stock valued at $361,322,000 after buying an additional 281,489 shares during the last quarter. Wellington Management Group LLP boosted its stake in NetEase by 13.7% in the first quarter. Wellington Management Group LLP now owns 1,580,905 shares of the technology company’s stock valued at $141,792,000 after purchasing an additional 191,068 shares during the last quarter. Deutsche Bank AG boosted its stake in shares of NetEase by 21.8% in the second quarter. Deutsche Bank AG now owns 1,210,240 shares of the technology company’s stock worth $112,989,000 after acquiring an additional 216,897 shares during the period. Capital International Investors boosted its stake in shares of NetEase by 4.4% in the first quarter. Capital International Investors now owns 1,047,627 shares of the technology company’s stock valued at $94,881,000 after acquiring an additional 44,346 shares during the period. Finally, State Street Corp boosted its stake in shares of NetEase by 7.1% in the second quarter. State Street Corp now owns 876,994 shares of the technology company’s stock worth $81,876,000 after acquiring an additional 57,872 shares during the period. 13.50% of the shares are currently owned by institutional investors and hedge funds.
Promote and demote an analyst
Several analysts recently weighed in on NTES shares. TheStreet raised NetEase from a “c+” rating to a “b-” rating in a report on Wednesday, January 18th. Morgan Stanley boosted their price objective on NetEase from $85.00 to $95.00 in a report on Wednesday, December 14th. HSBC decreased their price objective on NetEase from $122.00 to $105.00 and set a “buy” rating for the company in a report on Friday, November 18th. Citigroup boosted their price objective on NetEase from $98.00 to $100.00 and gave the company a “buy” rating in a report on Friday, November 18th. Finally, StockNews.com cut NetEase from a “strong-buy” rating to a “buy” rating in a report on Friday, January 13th. One analyst has rated the stock with a hold rating and six have given a buy rating to the company. The company currently has a consensus rating of “Moderate Buy” and an average target price of $109.14, based on data from MarketBeat.
NetEase price performance
Shares of NTES traded down $1.04 during midday trading on Monday, hitting $90.61. 263,389 shares of the stock were exchanged, with an average volume of 1,644,642. The stock has a market cap of $59.33 billion, a PE ratio of 18.29, a P/E/G ratio of 1.60 and a beta of 0.40. NetEase, Inc. has a 52-week low of $53.09 and a 52-week high of $108.77. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.31 and a quick earnings ratio of 2.29. The company has a fifty day moving average price of $76.21 and a 200 day moving average price of $78.53.
NetEase (NASDAQ:NTES – Get Rating ) last issued its quarterly earnings data on Thursday, November 17th. The technology company reported $1.43 earnings per share for the quarter, topping analysts’ consensus estimates of $0.97 by $0.46. The business had revenue of $3.43 billion for the quarter, compared to analyst estimates of $3.40 billion. NetEase has a return on equity of 20.59% and a net margin of 22.99%. As a group, analysts expect NetEase, Inc. to post 4.7 EPS for the current fiscal year.
NetEase increases dividend
The company also recently disclosed a quarterly dividend, which was paid on Friday, December 16th. Investors of record on Friday, December 2nd were given a dividend of $0.435 per share. The ex-dividend date was Thursday, December 1st. This represents an annualized dividend of $1.74 and a yield of 1.92%. This is a positive change from NetEase’s previous quarterly dividend of $0.36. NetEase’s payout ratio is currently 34.53%.
NetEase profile
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NetEase, Inc is an Internet technology company engaged in providing 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 company also operates some of the most popular international online games in China, partnering with Blizzard Entertainment, Mojang AB (a subsidiary of Microsoft) and other global game developers.
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