Cetera Investment Advisers Increases Holdings in NetEase, Inc. (NASDAQ:NTES)

Cetera Investment Advisers raised its stake in NetEase, Inc. (NASDAQ:NTES) by 56.8% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 17,123 shares of the technology company’s stock after buying an additional 6,203 shares during the quarter. Cetera Investment Advisers’ holdings in NetEase were worth $1,637,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. V Square Quantitative Management LLC purchased a new stake in NetEase in the fourth quarter valued at $371,000. Wellington Management Group LLP boosted its stake in NetEase by 226.4% during the fourth quarter. Wellington Management Group LLP now owns 1,896,495 shares of the technology company’s stock worth $176,677,000 after buying an additional 1,315,410 shares during the period. Moseley Investment Management Inc. purchased a new position in NetEase during the first quarter worth about $207,000. Ridgewood Investments LLC acquired a new stake in shares of NetEase during the first quarter valued at about $457,000. Finally, Park Avenue Securities LLC lifted its holdings in shares of NetEase by 7.3% in the 1st quarter. Park Avenue Securities LLC now owns 5,695 shares of the technology company’s stock worth $589,000 after acquiring an additional 387 shares during the last quarter. 11.07% of the stock is owned by institutional investors and hedge funds.

NetEase Price Performance

NASDAQ:NTES opened at $85.01 on Tuesday. The firm has a market capitalization of $54.59 billion, a PE ratio of 13.18, a price-to-earnings-growth ratio of 1.96 and a beta of 0.55. The business’s fifty day moving average price is $85.99 and its 200 day moving average price is $91.48. NetEase, Inc. has a 12 month low of $75.85 and a 12 month high of $118.89.

NetEase (NASDAQ:NTES) last issued its earnings results on Thursday, August 22nd. The technology company reported $12.05 earnings per share for the quarter, topping the consensus estimate of $1.62 by $10.43. NetEase had a return on equity of 22.30% and a net margin of 26.98%. The business had revenue of $25.49 billion for the quarter, compared to analyst estimates of $26.01 billion. During the same quarter last year, the company earned $1.75 EPS. The business’s quarterly revenue was up 6.1% on a year-over-year basis. As a group, equities analysts anticipate that NetEase, Inc. will post 6.05 EPS for the current 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 dividend of $0.435 per share. The ex-dividend date was Friday, September 6th. This represents a $1.74 annualized dividend and a yield of 2.05%. NetEase’s dividend payout ratio is currently 26.82%.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on NTES. StockNews.com lowered NetEase from a “strong-buy” rating to a “buy” rating in a research note on Saturday, July 20th. Morgan Stanley reissued an “equal weight” rating and issued a $100.00 price objective on shares of NetEase in a research note on Friday, July 5th. Barclays cut their target price 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. Jefferies Financial Group decreased their price target 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. Finally, Bank of America decreased their target price on NetEase from $142.00 to $120.00 and set a “buy” rating for the company in a report on Friday, August 23rd. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, NetEase presently has a consensus rating of “Moderate Buy” and an average price target of $112.67.

About NetEase

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.