Sanctuary Advisors LLC Makes New Investment in NetEase, Inc. (NASDAQ:NTES)

Sanctuary Advisors LLC bought a new stake in shares of NetEase, Inc. (NASDAQ:NTES) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm bought 12,544 shares of the technology company’s stock, valued at approximately $1,204,000.

A number of other hedge funds and other institutional investors have also modified their holdings of NTES. Wellington Management Group LLP boosted its holdings in NetEase by 226.4% in the fourth quarter. Wellington Management Group LLP now owns 1,896,495 shares of the technology company’s stock valued at $176,677,000 after purchasing an additional 1,315,410 shares during the last quarter. Massachusetts Financial Services Co. MA grew its position in shares of NetEase by 6.5% during the second quarter. Massachusetts Financial Services Co. MA now owns 1,692,705 shares of the technology company’s stock worth $161,789,000 after buying an additional 103,102 shares in the last quarter. Point72 Hong Kong Ltd increased its stake in shares of NetEase by 109.0% in the second quarter. Point72 Hong Kong Ltd now owns 1,213,323 shares of the technology company’s stock worth $115,969,000 after buying an additional 632,896 shares during the last quarter. Capital International Investors raised its holdings in NetEase by 1.1% in the first quarter. Capital International Investors now owns 1,052,966 shares of the technology company’s stock valued at $108,950,000 after acquiring an additional 11,729 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD acquired a new stake in NetEase in the first quarter valued at $103,658,000. 11.07% of the stock is owned by hedge funds and other institutional investors.

NetEase Price Performance

NASDAQ:NTES opened at $88.09 on Friday. The firm has a market capitalization of $56.56 billion, a P/E ratio of 13.74, a P/E/G ratio of 1.78 and a beta of 0.55. NetEase, Inc. has a 12-month low of $75.85 and a 12-month high of $118.89. The business has a 50 day simple moving average of $86.14 and a 200 day simple moving average of $91.91.

NetEase (NASDAQ:NTES) last released its quarterly earnings data on Thursday, August 22nd. The technology company reported $12.05 earnings per share for the quarter, topping analysts’ consensus estimates of $1.62 by $10.43. The business had revenue of $25.49 billion for 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%. The company’s revenue for the quarter was up 6.1% compared to the same quarter last year. During the same quarter last year, the company earned $1.75 EPS. Research analysts anticipate that NetEase, Inc. will post 6.05 EPS for the current fiscal year.

NetEase Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 20th. Stockholders of record on Friday, September 6th were given a dividend of $0.435 per share. The ex-dividend date was Friday, September 6th. This represents a $1.74 annualized dividend and a dividend yield of 1.98%. NetEase’s dividend payout ratio is presently 26.82%.

Analyst Ratings Changes

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