Coronation Fund Managers Ltd. Acquires New Holdings in NetEase, Inc. (NASDAQ:NTES)

Coronation Fund Managers Ltd. bought a new position in NetEase, Inc. (NASDAQ:NTES) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 104,783 shares of the technology company’s stock, valued at approximately $10,015,000.

Several other large investors also recently made changes to their positions in NTES. Ariadne Wealth Management LP bought a new position in NetEase in the 2nd quarter worth approximately $35,000. Aurora Investment Counsel boosted its position in NetEase by 2.5% during the 2nd quarter. Aurora Investment Counsel now owns 25,393 shares of the technology company’s stock worth $2,427,000 after acquiring an additional 627 shares during the period. Cetera Investment Advisers grew its stake in shares of NetEase by 56.8% in the second quarter. Cetera Investment Advisers now owns 17,123 shares of the technology company’s stock worth $1,637,000 after purchasing an additional 6,203 shares in the last quarter. Brandes Investment Partners LP grew its stake in shares of NetEase by 1.2% in the second quarter. Brandes Investment Partners LP now owns 20,880 shares of the technology company’s stock worth $2,000,000 after purchasing an additional 248 shares in the last quarter. Finally, Susquehanna International Securities Ltd. increased its holdings in shares of NetEase by 37.5% during the second quarter. Susquehanna International Securities Ltd. now owns 18,768 shares of the technology company’s stock valued at $1,794,000 after purchasing an additional 5,121 shares during the period. Institutional investors and hedge funds own 11.07% of the company’s stock.

NetEase Stock Performance

NetEase stock opened at $96.64 on Wednesday. The firm has a market cap of $62.06 billion, a price-to-earnings ratio of 14.98, a price-to-earnings-growth ratio of 1.78 and a beta of 0.54. NetEase, Inc. has a 1 year low of $75.85 and a 1 year high of $118.89. The firm’s 50 day moving average price is $85.47 and its two-hundred day moving average price is $92.14.

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

NetEase Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 20th. Investors of record on Friday, September 6th were paid 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 1.80%. NetEase’s dividend payout ratio is currently 26.82%.

Analyst Upgrades and Downgrades

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

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.