Brandes Investment Partners LP Buys 248 Shares of NetEase, Inc. (NASDAQ:NTES)

Brandes Investment Partners LP grew its stake in shares of NetEase, Inc. (NASDAQ:NTES) by 1.2% in the second quarter, HoldingsChannel.com reports. The firm owned 20,880 shares of the technology company’s stock after buying an additional 248 shares during the quarter. Brandes Investment Partners LP’s holdings in NetEase were worth $2,000,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in NTES. Susquehanna International Securities Ltd. boosted its position in NetEase by 37.5% during the 2nd quarter. Susquehanna International Securities Ltd. now owns 18,768 shares of the technology company’s stock valued at $1,794,000 after buying an additional 5,121 shares during the period. Susquehanna International Group Ltd. bought a new position in shares of NetEase during the second quarter valued at about $1,147,000. Lighthouse Investment Partners LLC boosted its holdings in shares of NetEase by 58.5% during the second quarter. Lighthouse Investment Partners LLC now owns 10,924 shares of the technology company’s stock worth $1,044,000 after purchasing an additional 4,033 shares during the period. Caxton Associates LP bought a new stake in shares of NetEase in the second quarter worth about $248,000. Finally, Point72 Hong Kong Ltd increased its holdings in NetEase by 109.0% during the 2nd quarter. Point72 Hong Kong Ltd now owns 1,213,323 shares of the technology company’s stock valued at $115,969,000 after purchasing an additional 632,896 shares during the period. Institutional investors own 11.07% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on NTES shares. Barclays dropped their price objective on NetEase from $104.00 to $82.00 and set an “equal weight” rating for the company in a report on Monday, August 26th. Jefferies Financial Group dropped their price target on NetEase from $126.00 to $103.00 and set a “buy” rating for the company in a research note on Thursday, August 22nd. Bank of America cut their price target on shares of NetEase from $142.00 to $120.00 and set a “buy” rating on the stock in a report on Friday, August 23rd. StockNews.com lowered shares of NetEase from a “strong-buy” rating to a “buy” rating in a report on Saturday, July 20th. Finally, Morgan Stanley reaffirmed an “equal weight” rating and issued a $100.00 target price on shares of NetEase in a research report on Friday, July 5th. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $112.67.

NetEase Trading Down 0.1 %

Shares of NetEase stock opened at $93.51 on Tuesday. The business has a fifty day simple moving average of $85.40 and a two-hundred day simple moving average of $92.21. The firm has a market capitalization of $60.05 billion, a P/E ratio of 14.50, a P/E/G ratio of 1.78 and a beta of 0.54. NetEase, Inc. has a 12 month low of $75.85 and a 12 month high of $118.89.

NetEase (NASDAQ:NTES) last issued its quarterly earnings results on Thursday, August 22nd. The technology company reported $12.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.62 by $10.43. The company had revenue of $25.49 billion during the quarter, compared to analysts’ expectations of $26.01 billion. NetEase had a net margin of 26.98% and a return on equity of 22.30%. NetEase’s revenue was up 6.1% on a year-over-year basis. During the same period last year, the company posted $1.75 EPS. Analysts predict that NetEase, Inc. will post 6.05 earnings per share for the current year.

NetEase Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 20th. Investors of record on Friday, September 6th were paid a $0.435 dividend. The ex-dividend date of this dividend was Friday, September 6th. This represents a $1.74 annualized dividend and a dividend yield of 1.86%. NetEase’s payout ratio is currently 26.82%.

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.