Frank Rimerman Advisors LLC Acquires New Holdings in NetEase, Inc. (NASDAQ:NTES)

Frank Rimerman Advisors LLC bought a new stake in NetEase, Inc. (NASDAQ:NTES) in the second quarter, HoldingsChannel reports. The fund bought 6,318 shares of the technology company’s stock, valued at approximately $604,000.

Several other institutional investors and hedge funds have also modified their holdings of NTES. Nordea Investment Management AB increased its holdings in NetEase by 17.2% during the 1st quarter. Nordea Investment Management AB now owns 318,550 shares of the technology company’s stock worth $33,059,000 after purchasing an additional 46,635 shares in the last quarter. Canada Pension Plan Investment Board lifted its position in shares of NetEase by 12.4% in the first quarter. Canada Pension Plan Investment Board now owns 327,400 shares of the technology company’s stock worth $33,876,000 after purchasing an additional 36,000 shares in the last quarter. Lazard Asset Management LLC boosted its holdings in NetEase by 804.5% during the first quarter. Lazard Asset Management LLC now owns 792,357 shares of the technology company’s stock worth $81,983,000 after purchasing an additional 704,753 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its position in NetEase by 6.3% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 278,802 shares of the technology company’s stock valued at $28,848,000 after purchasing an additional 16,607 shares in the last quarter. Finally, Mitsubishi UFJ Trust & Banking Corp increased its stake in NetEase by 4.7% in the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 134,344 shares of the technology company’s stock valued at $13,261,000 after buying an additional 6,065 shares during the last quarter. 11.07% of the stock is currently owned by institutional investors and hedge funds.

NetEase Price Performance

Shares of NetEase stock opened at $80.49 on Tuesday. The business has a fifty day simple moving average of $85.63 and a two-hundred day simple moving average of $92.83. NetEase, Inc. has a 1 year low of $75.85 and a 1 year high of $118.89. The company has a market capitalization of $51.69 billion, a price-to-earnings ratio of 12.48, a P/E/G ratio of 1.72 and a beta of 0.54.

NetEase (NASDAQ:NTES) last posted its earnings results on Thursday, August 22nd. The technology company reported $12.05 earnings per share (EPS) for the quarter, topping 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 quarterly revenue was up 6.1% compared to the same quarter last year. During the same quarter last year, the company posted $1.75 EPS. As a group, equities analysts anticipate that NetEase, Inc. will post 6.05 earnings per share for the current fiscal year.

NetEase Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, September 20th. Investors of record on Friday, September 6th were issued a dividend of $0.435 per share. The ex-dividend date was Friday, September 6th. This represents a $1.74 annualized dividend and a yield of 2.16%. NetEase’s payout ratio is currently 26.82%.

Analyst Upgrades and Downgrades

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

About NetEase

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.