Lighthouse Investment Partners LLC Purchases 4,033 Shares of NetEase, Inc. (NASDAQ:NTES)

Lighthouse Investment Partners LLC raised its holdings in NetEase, Inc. (NASDAQ:NTES) by 58.5% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 10,924 shares of the technology company’s stock after purchasing an additional 4,033 shares during the period. Lighthouse Investment Partners LLC’s holdings in NetEase were worth $1,044,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently made changes to their positions in the company. Franklin Resources Inc. increased its stake in NetEase by 77.3% in the fourth quarter. Franklin Resources Inc. now owns 14,743 shares of the technology company’s stock valued at $1,373,000 after acquiring an additional 6,427 shares during the period. Orion Portfolio Solutions LLC bought a new stake in shares of NetEase in the 4th quarter valued at approximately $638,000. Advisory Services Network LLC raised its holdings in shares of NetEase by 6.5% in the 4th quarter. Advisory Services Network LLC now owns 4,949 shares of the technology company’s stock worth $461,000 after buying an additional 301 shares in the last quarter. Nomura Asset Management Co. Ltd. lifted its position in shares of NetEase by 879.6% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 28,311 shares of the technology company’s stock worth $2,637,000 after buying an additional 25,421 shares during the period. Finally, Allianz Asset Management GmbH boosted its stake in NetEase by 154.5% in the 4th quarter. Allianz Asset Management GmbH now owns 193,471 shares of the technology company’s stock valued at $18,024,000 after buying an additional 117,443 shares in the last quarter. Institutional investors and hedge funds own 11.07% of the company’s stock.

NetEase Trading Up 2.7 %

NTES opened at $93.58 on Friday. NetEase, Inc. has a 1-year low of $75.85 and a 1-year high of $118.89. The stock has a market capitalization of $60.09 billion, a PE ratio of 14.51, a PEG ratio of 1.78 and a beta of 0.54. The firm has a 50-day moving average price of $85.40 and a two-hundred day moving average price of $92.43.

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

NetEase Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 20th. Stockholders 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 dividend payout ratio (DPR) is currently 26.82%.

Wall Street Analyst Weigh In

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

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.