Pictet Asset Management Holding SA Grows Holdings in NetEase, Inc. (NASDAQ:NTES)

Pictet Asset Management Holding SA boosted its stake in NetEase, Inc. (NASDAQ:NTES) by 1,459.5% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 134,113 shares of the technology company’s stock after purchasing an additional 125,513 shares during the period. Pictet Asset Management Holding SA’s holdings in NetEase were worth $11,964,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. WT Asset Management Ltd acquired a new stake in shares of NetEase during the fourth quarter worth about $2,624,000. SG Americas Securities LLC acquired a new stake in NetEase during the 4th quarter worth approximately $654,000. APEIRON CAPITAL Ltd boosted its position in NetEase by 20.5% in the 4th quarter. APEIRON CAPITAL Ltd now owns 129,321 shares of the technology company’s stock valued at $11,537,000 after buying an additional 22,000 shares during the period. SVB Wealth LLC acquired a new position in shares of NetEase in the fourth quarter worth $3,817,000. Finally, Greenwoods Asset Management Hong Kong Ltd. increased its position in shares of NetEase by 10.8% during the fourth quarter. Greenwoods Asset Management Hong Kong Ltd. now owns 3,632,870 shares of the technology company’s stock worth $324,088,000 after acquiring an additional 354,273 shares during the period. Hedge funds and other institutional investors own 11.07% of the company’s stock.

NetEase Trading Up 0.0 %

Shares of NetEase stock opened at $106.40 on Thursday. The company has a fifty day simple moving average of $102.36 and a 200-day simple moving average of $93.27. The stock has a market cap of $68.33 billion, a price-to-earnings ratio of 16.70, a PEG ratio of 3.37 and a beta of 0.61. NetEase, Inc. has a 12-month low of $75.85 and a 12-month high of $110.15.

NetEase (NASDAQ:NTES) last issued its quarterly earnings data on Thursday, February 20th. The technology company reported $1.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.73 by $0.14. The company had revenue of $3.66 billion for the quarter, compared to analyst estimates of $27.16 billion. NetEase had a return on equity of 22.12% and a net margin of 28.17%. On average, analysts forecast that NetEase, Inc. will post 6.91 earnings per share for the current fiscal year.

NetEase Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Stockholders of record on Thursday, March 6th were issued a $0.435 dividend. This represents a $1.74 annualized dividend and a dividend yield of 1.64%. The ex-dividend date of this dividend was Thursday, March 6th. NetEase’s payout ratio is currently 76.45%.

Wall Street Analysts Forecast Growth

Several research firms recently commented on NTES. Morgan Stanley boosted their target price on NetEase from $108.00 to $117.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 12th. StockNews.com lowered shares of NetEase from a “strong-buy” rating to a “buy” rating in a research note on Friday, December 6th. Bank of America lifted their price target on shares of NetEase from $120.00 to $122.00 and gave the stock a “buy” rating in a research note on Wednesday, January 15th. Benchmark increased their price objective on shares of NetEase from $105.00 to $115.00 and gave the company a “buy” rating in a research report on Friday, February 21st. Finally, Barclays raised their price objective on shares of NetEase from $82.00 to $104.00 and gave the company an “equal weight” rating in a report on Monday, February 24th. One research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, NetEase presently has a consensus rating of “Moderate Buy” and a consensus target price 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.