Pitcairn Co. Has $716,000 Stock Position in NetEase, Inc. (NASDAQ:NTES)

Pitcairn Co. boosted its holdings in shares of NetEase, Inc. (NASDAQ:NTES) by 62.3% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 8,026 shares of the technology company’s stock after acquiring an additional 3,082 shares during the quarter. Pitcairn Co.’s holdings in NetEase were worth $716,000 as of its most recent filing with the Securities & Exchange Commission.

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

NetEase Stock Performance

NTES opened at $98.86 on Friday. The firm has a market cap of $63.48 billion, a P/E ratio of 15.52, a price-to-earnings-growth ratio of 3.37 and a beta of 0.61. The business’s fifty day moving average is $102.39 and its 200-day moving average is $93.51. NetEase, Inc. has a 52-week low of $75.85 and a 52-week high of $110.15.

NetEase (NASDAQ:NTES) last released its earnings results on Thursday, February 20th. The technology company reported $1.87 EPS 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 for the quarter, compared to analyst estimates of $27.16 billion. On average, research analysts predict that NetEase, Inc. will post 6.91 earnings per share for the current fiscal year.

NetEase Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Thursday, March 6th were paid a dividend of $0.435 per share. This represents a $1.74 annualized dividend and a yield of 1.76%. The ex-dividend date of this dividend was Thursday, March 6th. NetEase’s payout ratio is presently 76.45%.

Analysts Set New Price Targets

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