QRG Capital Management Inc. Decreases Stock Holdings in NetEase, Inc. (NASDAQ:NTES)

QRG Capital Management Inc. reduced its position in shares of NetEase, Inc. (NASDAQ:NTES) by 2.1% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 5,028 shares of the technology company’s stock after selling 109 shares during the quarter. QRG Capital Management Inc.’s holdings in NetEase were worth $449,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the company. Brooklyn Investment Group purchased a new stake in NetEase in the 4th quarter worth approximately $34,000. UMB Bank n.a. raised its holdings in shares of NetEase by 33.3% during the fourth quarter. UMB Bank n.a. now owns 444 shares of the technology company’s stock valued at $40,000 after acquiring an additional 111 shares in the last quarter. RPg Family Wealth Advisory LLC purchased a new stake in NetEase in the third quarter worth $70,000. Avior Wealth Management LLC boosted its holdings in NetEase by 148.9% in the fourth quarter. Avior Wealth Management LLC now owns 993 shares of the technology company’s stock valued at $89,000 after acquiring an additional 594 shares in the last quarter. Finally, Empowered Funds LLC purchased a new position in NetEase during the 4th quarter valued at $174,000. Hedge funds and other institutional investors own 11.07% of the company’s stock.

NetEase Stock Up 2.5 %

NTES stock opened at $103.16 on Thursday. The business has a 50 day moving average of $98.99 and a 200 day moving average of $90.37. The firm has a market cap of $66.24 billion, a PE ratio of 16.19, a price-to-earnings-growth ratio of 3.37 and a beta of 0.58. NetEase, Inc. has a twelve month low of $75.85 and a twelve month high of $111.12.

NetEase (NASDAQ:NTES) last issued its quarterly earnings results on Thursday, February 20th. The technology company reported $1.87 earnings per share for the quarter, beating the consensus estimate of $1.73 by $0.14. The firm had revenue of $3.66 billion during the quarter, compared to the consensus estimate of $27.16 billion. NetEase had a return on equity of 22.12% and a net margin of 28.17%. On average, research analysts expect that NetEase, Inc. will post 6.91 earnings per share for the current fiscal year.

NetEase Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Thursday, March 6th will be issued a $0.435 dividend. The ex-dividend date is Thursday, March 6th. This represents a $1.74 annualized dividend and a yield of 1.69%. NetEase’s dividend payout ratio (DPR) is presently 76.45%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the stock. Benchmark raised their target price on shares of NetEase from $105.00 to $115.00 and gave the stock a “buy” rating in a research report on Friday, February 21st. Barclays lifted their price objective on NetEase from $82.00 to $104.00 and gave the company an “equal weight” rating in a research report on Monday, February 24th. StockNews.com lowered NetEase from a “strong-buy” rating to a “buy” rating in a research report on Friday, December 6th. Citigroup lifted their price target on NetEase from $108.00 to $115.00 and gave the company a “buy” rating in a research report on Friday, November 15th. Finally, Morgan Stanley increased their price objective on NetEase from $108.00 to $117.00 and gave the stock an “overweight” rating in a report on Wednesday, February 12th. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price 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.