Bleakley Financial Group LLC Takes $216,000 Position in NetEase, Inc. (NASDAQ:NTES)

Bleakley Financial Group LLC bought a new stake in NetEase, Inc. (NASDAQ:NTES) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 2,319 shares of the technology company’s stock, valued at approximately $216,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Commonwealth Equity Services LLC lifted its stake in shares of NetEase by 2.1% in the 2nd quarter. Commonwealth Equity Services LLC now owns 5,290 shares of the technology company’s stock valued at $512,000 after purchasing an additional 109 shares during the period. Huntington National Bank raised its stake in NetEase by 31.4% during the third quarter. Huntington National Bank now owns 678 shares of the technology company’s stock valued at $68,000 after buying an additional 162 shares during the last quarter. Panagora Asset Management Inc. raised its stake in NetEase by 1.5% during the third quarter. Panagora Asset Management Inc. now owns 12,201 shares of the technology company’s stock valued at $1,222,000 after buying an additional 178 shares during the last quarter. Raymond James Financial Services Advisors Inc. raised its stake in NetEase by 8.7% during the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 2,348 shares of the technology company’s stock valued at $219,000 after buying an additional 188 shares during the last quarter. Finally, Private Trust Co. NA raised its stake in NetEase by 418.9% during the fourth quarter. Private Trust Co. NA now owns 275 shares of the technology company’s stock valued at $26,000 after buying an additional 222 shares during the last quarter. Hedge funds and other institutional investors own 11.07% of the company’s stock.

NetEase Price Performance

NTES stock opened at $90.42 on Wednesday. NetEase, Inc. has a 1-year low of $80.79 and a 1-year high of $118.89. The stock has a market capitalization of $58.30 billion, a P/E ratio of 14.28, a P/E/G ratio of 0.84 and a beta of 0.58. The business has a fifty day moving average price of $104.38 and a 200-day moving average price of $103.39.

NetEase (NASDAQ:NTES) last issued its quarterly earnings data on Thursday, February 29th. The technology company reported $1.42 EPS for the quarter, missing the consensus estimate of $1.62 by ($0.20). NetEase had a return on equity of 24.36% and a net margin of 28.39%. The firm had revenue of $3.82 billion during the quarter, compared to the consensus estimate of $3.96 billion. As a group, analysts anticipate that NetEase, Inc. will post 7.04 earnings per share for the current year.

NetEase Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Thursday, March 14th were issued a $1.08 dividend. The ex-dividend date of this dividend was Wednesday, March 13th. This represents a $4.32 annualized dividend and a dividend yield of 4.78%. This is a positive change from NetEase’s previous quarterly dividend of $0.50. NetEase’s payout ratio is presently 68.09%.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on NTES. StockNews.com upgraded NetEase from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, March 26th. Morgan Stanley lowered their price objective on NetEase from $135.00 to $120.00 and set an “overweight” rating for the company in a research note on Friday, April 12th. Six research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $126.00.

NetEase 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.