Arrowstreet Capital Limited Partnership Purchases 54,899 Shares of NetEase, Inc. (NASDAQ:NTES)

Arrowstreet Capital Limited Partnership lifted its position in NetEase, Inc. (NASDAQ:NTES) by 2.8% in the 4th quarter, Holdings Channel reports. The fund owned 2,016,465 shares of the technology company’s stock after acquiring an additional 54,899 shares during the quarter. Arrowstreet Capital Limited Partnership’s holdings in NetEase were worth $179,889,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Farther Finance Advisors LLC raised its holdings in NetEase by 81.7% in the fourth quarter. Farther Finance Advisors LLC now owns 338 shares of the technology company’s stock worth $30,000 after purchasing an additional 152 shares in the last quarter. Brooklyn Investment Group bought a new position in shares of NetEase in the 4th quarter worth about $34,000. UMB Bank n.a. lifted its position in NetEase by 33.3% during the 4th quarter. UMB Bank n.a. now owns 444 shares of the technology company’s stock valued at $40,000 after acquiring an additional 111 shares during the period. Live Oak Investment Partners purchased a new stake in NetEase in the fourth quarter worth about $62,000. Finally, Avior Wealth Management LLC increased its stake in shares of NetEase by 148.9% during the fourth quarter. Avior Wealth Management LLC now owns 993 shares of the technology company’s stock valued at $89,000 after purchasing an additional 594 shares in the last quarter. Hedge funds and other institutional investors own 11.07% of the company’s stock.

NetEase Stock Performance

Shares of NASDAQ:NTES opened at $100.72 on Monday. The firm has a market cap of $64.68 billion, a price-to-earnings ratio of 15.81, a price-to-earnings-growth 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, Inc. has a fifty-two week low of $75.85 and a fifty-two week high of $110.15.

NetEase (NASDAQ:NTES) last released its quarterly earnings data on Thursday, February 20th. The technology company reported $1.87 earnings per share for the quarter, beating the consensus estimate of $1.73 by $0.14. NetEase had a net margin of 28.17% and a return on equity of 22.12%. The firm had revenue of $3.66 billion during the quarter, compared to analysts’ expectations of $27.16 billion. As a group, research analysts predict that NetEase, Inc. will post 6.91 earnings per share for the current year.

NetEase Dividend Announcement

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

Wall Street Analyst Weigh In

Several analysts recently weighed in on NTES shares. Barclays upped their price target on NetEase from $82.00 to $104.00 and gave the stock an “equal weight” rating in a research note on Monday, February 24th. Benchmark increased their target price on NetEase from $105.00 to $115.00 and gave the stock a “buy” rating in a research note on Friday, February 21st. Bank of America lifted their price target 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 downgraded shares of NetEase from a “strong-buy” rating to a “buy” rating in a research report on Friday, December 6th. Finally, Morgan Stanley lifted their target price on shares of NetEase from $108.00 to $117.00 and gave the stock an “overweight” rating in a report on Wednesday, February 12th. One research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average 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.