NetEase Inc (NTES) Shares Sold by Bessemer Group Inc.
Bessemer Group Inc. reduced its position in NetEase Inc (NASDAQ:NTES) by 39.4% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,385 shares of the technology company’s stock after selling 2,197 shares during the period. Bessemer Group Inc.’s holdings in NetEase were worth $773,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in NTES. Tower Research Capital LLC TRC purchased a new position in NetEase during the second quarter worth $108,000. Northwestern Mutual Wealth Management Co. increased its position in NetEase by 96.6% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 462 shares of the technology company’s stock worth $117,000 after buying an additional 227 shares in the last quarter. Cornerstone Wealth Management LLC increased its position in NetEase by 286.3% during the third quarter. Cornerstone Wealth Management LLC now owns 41,639 shares of the technology company’s stock worth $151,000 after buying an additional 30,861 shares in the last quarter. Flagship Harbor Advisors LLC purchased a new position in NetEase during the second quarter worth $167,000. Finally, Guinness Asset Management Ltd increased its position in NetEase by 59.1% during the third quarter. Guinness Asset Management Ltd now owns 861 shares of the technology company’s stock worth $196,000 after buying an additional 320 shares in the last quarter. 43.64% of the stock is owned by hedge funds and other institutional investors.
Several equities research analysts have recently issued reports on the company. Zacks Investment Research upgraded NetEase from a “hold” rating to a “strong-buy” rating and set a $249.00 price objective on the stock in a report on Wednesday, October 10th. BidaskClub upgraded NetEase from a “buy” rating to a “strong-buy” rating in a report on Wednesday, November 7th. ValuEngine upgraded NetEase from a “hold” rating to a “buy” rating in a report on Thursday, November 1st. Nomura raised their price objective on NetEase from $265.00 to $267.00 and gave the stock a “buy” rating in a report on Friday, November 16th. Finally, Barclays set a $250.00 price objective on NetEase and gave the stock a “hold” rating in a report on Thursday, October 18th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating, nine have issued a buy rating and two have given a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $298.10.
NetEase (NASDAQ:NTES) last posted its quarterly earnings data on Wednesday, November 14th. The technology company reported $1.80 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.10 by ($0.30). NetEase had a return on equity of 12.66% and a net margin of 9.22%. The business had revenue of $2.45 billion for the quarter, compared to analyst estimates of $2.42 billion. During the same quarter last year, the business earned $3.43 EPS. NetEase’s revenue for the quarter was up 30.9% compared to the same quarter last year. Research analysts expect that NetEase Inc will post 7.29 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 7th. Investors of record on Friday, November 30th will be issued a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 0.79%. The ex-dividend date of this dividend is Thursday, November 29th. NetEase’s payout ratio is currently 19.58%.
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NetEase, Inc operates an interactive online community in the People's Republic of China. The company operates through Online Game Services; E-Commerce; Advertising Services; and Email and Others segments. It offers various games in a range of genres through mobile devices and PCs, including role playing games, MMORPGs, battle arena games, simulation games, collectible card games, first-person shooter games, sandbox games, and other types of games to the Chinese market.
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