6,318 Shares in NetEase, Inc. (NASDAQ:NTES) Bought by Frank Rimerman Advisors LLC

Frank Rimerman Advisors LLC purchased a new stake in NetEase, Inc. (NASDAQ:NTES) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 6,318 shares of the technology company’s stock, valued at approximately $604,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of NTES. Wellington Management Group LLP lifted its stake in shares of NetEase by 226.4% in the fourth quarter. Wellington Management Group LLP now owns 1,896,495 shares of the technology company’s stock valued at $176,677,000 after buying an additional 1,315,410 shares during the period. Tairen Capital Ltd acquired a new stake in shares of NetEase during the 4th quarter worth approximately $164,307,000. Massachusetts Financial Services Co. MA grew its holdings in shares of NetEase by 6.5% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 1,692,705 shares of the technology company’s stock worth $161,789,000 after purchasing an additional 103,102 shares in the last quarter. Capital International Investors increased its position in shares of NetEase by 1.1% during the first quarter. Capital International Investors now owns 1,052,966 shares of the technology company’s stock valued at $108,950,000 after purchasing an additional 11,729 shares during the period. Finally, Price T Rowe Associates Inc. MD acquired a new position in shares of NetEase in the first quarter valued at $103,658,000. 11.07% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

NetEase Stock Performance

Shares of NASDAQ:NTES opened at $80.49 on Tuesday. The business has a fifty day moving average of $85.63 and a 200-day moving average of $92.83. NetEase, Inc. has a twelve month low of $75.85 and a twelve month high of $118.89. The firm has a market cap of $51.69 billion, a PE ratio of 12.48, a price-to-earnings-growth ratio of 1.72 and a beta of 0.54.

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

NetEase Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 20th. Shareholders of record on Friday, September 6th were given a $0.435 dividend. The ex-dividend date was Friday, September 6th. This represents a $1.74 dividend on an annualized basis and a yield of 2.16%. NetEase’s payout ratio is 26.82%.

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.