Everstar Asset Management LLC Cuts Stake in NetEase, Inc. (NASDAQ:NTES)

Everstar Asset Management LLC lowered its stake in NetEase, Inc. (NASDAQ:NTES) by 25.9% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 5,458 shares of the technology company’s stock after selling 1,905 shares during the quarter. Everstar Asset Management LLC’s holdings in NetEase were worth $487,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in NTES. Greenwoods Asset Management Hong Kong Ltd. increased its position in shares of NetEase by 10.8% during the 4th quarter. Greenwoods Asset Management Hong Kong Ltd. now owns 3,632,870 shares of the technology company’s stock valued at $324,088,000 after purchasing an additional 354,273 shares during the last quarter. Arrowstreet Capital Limited Partnership boosted its position in shares of NetEase by 2.8% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 2,016,465 shares of the technology company’s stock valued at $179,889,000 after buying an additional 54,899 shares during the period. Wellington Management Group LLP grew its stake in shares of NetEase by 1.1% during the third quarter. Wellington Management Group LLP now owns 1,020,213 shares of the technology company’s stock valued at $95,400,000 after buying an additional 10,920 shares during the last quarter. Mawer Investment Management Ltd. purchased a new stake in shares of NetEase in the fourth quarter worth approximately $62,593,000. Finally, Davis Selected Advisers bought a new stake in shares of NetEase during the 4th quarter worth approximately $53,287,000. 11.07% of the stock is owned by institutional investors.

NetEase Stock Performance

Shares of NASDAQ NTES opened at $100.72 on Monday. NetEase, Inc. has a fifty-two week low of $75.85 and a fifty-two week high of $110.15. The company has a market cap of $64.68 billion, a PE ratio of 15.81, a P/E/G ratio of 3.37 and a beta of 0.61. The business has a 50-day simple moving average of $102.05 and a two-hundred day simple moving average of $92.79.

NetEase (NASDAQ:NTES) last released its earnings results on Thursday, February 20th. The technology company reported $1.87 earnings per share for the quarter, topping the consensus estimate of $1.73 by $0.14. The company had revenue of $3.66 billion for the quarter, compared to the consensus estimate 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 earnings per share for the current fiscal year.

NetEase Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Thursday, March 6th were paid a $0.435 dividend. The ex-dividend date was Thursday, March 6th. This represents a $1.74 dividend on an annualized basis and a yield of 1.73%. NetEase’s dividend payout ratio (DPR) is 76.45%.

Analyst Ratings Changes

NTES has been the subject of several research analyst reports. Bank of America lifted their target price on NetEase from $120.00 to $122.00 and gave the stock a “buy” rating in a research report on Wednesday, January 15th. StockNews.com lowered NetEase from a “strong-buy” rating to a “buy” rating in a research report on Friday, December 6th. Benchmark upped their price objective on shares of NetEase from $105.00 to $115.00 and gave the stock a “buy” rating in a research note on Friday, February 21st. Barclays upped their price target on shares of NetEase from $82.00 to $104.00 and gave the stock an “equal weight” rating in a research report on Monday, February 24th. Finally, Morgan Stanley boosted their price target on NetEase from $108.00 to $117.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 12th. One research analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $114.57.

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.