Massachusetts Financial Services Co. MA Acquires 100,922 Shares of NetEase, Inc. (NASDAQ:NTES)

Massachusetts Financial Services Co. MA grew its stake in NetEase, Inc. (NASDAQ:NTES) by 6.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,766,327 shares of the technology company’s stock after purchasing an additional 100,922 shares during the period. Massachusetts Financial Services Co. MA’s holdings in NetEase were worth $157,574,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. UMB Bank n.a. grew its position in NetEase by 33.3% in the fourth 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. Sumitomo Mitsui Trust Group Inc. grew its holdings in shares of NetEase by 1.6% in the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 7,190 shares of the technology company’s stock worth $641,000 after purchasing an additional 114 shares during the last quarter. Brighton Jones LLC increased its position in shares of NetEase by 1.1% during the 4th quarter. Brighton Jones LLC now owns 10,297 shares of the technology company’s stock worth $919,000 after purchasing an additional 117 shares in the last quarter. Farther Finance Advisors LLC lifted its holdings in NetEase by 81.7% during the 4th quarter. Farther Finance Advisors LLC now owns 338 shares of the technology company’s stock valued at $30,000 after purchasing an additional 152 shares during the last quarter. Finally, State Street Corp boosted its position in NetEase by 0.3% in the third quarter. State Street Corp now owns 56,729 shares of the technology company’s stock valued at $5,305,000 after buying an additional 156 shares in the last quarter. 11.07% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have recently weighed in on NTES shares. Barclays raised their price objective on shares of NetEase from $82.00 to $104.00 and gave the stock an “equal weight” rating in a report on Monday, February 24th. Benchmark lifted their price objective on NetEase from $105.00 to $115.00 and gave the company a “buy” rating in a research report on Friday, February 21st. Morgan Stanley increased their target price on NetEase from $108.00 to $117.00 and gave the stock an “overweight” rating in a report on Wednesday, February 12th. StockNews.com cut NetEase from a “strong-buy” rating to a “buy” rating in a report on Friday, December 6th. Finally, Bank of America increased their price target on shares of NetEase from $120.00 to $122.00 and gave the company a “buy” rating in a research note on Wednesday, January 15th. One research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $114.57.

NetEase Price Performance

Shares of NASDAQ NTES opened at $98.86 on Friday. The business has a 50-day moving average of $102.39 and a 200-day moving average of $93.51. The stock has a market capitalization of $63.48 billion, a price-to-earnings ratio of 15.52, a PEG ratio of 3.37 and a beta of 0.61. NetEase, Inc. has a fifty-two week low of $75.85 and a fifty-two week high of $110.15.

NetEase (NASDAQ:NTES) last announced its quarterly earnings results on Thursday, February 20th. The technology company reported $1.87 EPS for the quarter, beating analysts’ consensus estimates of $1.73 by $0.14. The firm had revenue of $3.66 billion during the quarter, compared to analysts’ expectations of $27.16 billion. NetEase had a net margin of 28.17% and a return on equity of 22.12%. On average, sell-side analysts expect that NetEase, Inc. will post 6.91 EPS for the current year.

NetEase Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Investors 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 yield of 1.76%. NetEase’s dividend payout ratio (DPR) is currently 76.45%.

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.