O Shaughnessy Asset Management LLC Buys 2,531 Shares of NetEase, Inc. (NASDAQ:NTES)

O Shaughnessy Asset Management LLC raised its stake in NetEase, Inc. (NASDAQ:NTES) by 69.0% in the 2nd quarter, HoldingsChannel reports. The firm owned 6,197 shares of the technology company’s stock after acquiring an additional 2,531 shares during the quarter. O Shaughnessy Asset Management LLC’s holdings in NetEase were worth $714,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Belpointe Asset Management LLC acquired a new position in shares of NetEase during the second quarter valued at about $362,000. Quadrant Capital Group LLC grew its holdings in shares of NetEase by 17.9% during the second quarter. Quadrant Capital Group LLC now owns 1,773 shares of the technology company’s stock valued at $204,000 after buying an additional 269 shares during the last quarter. Vestmark Advisory Solutions Inc. acquired a new position in shares of NetEase during the second quarter valued at about $230,000. Parallel Advisors LLC grew its holdings in shares of NetEase by 14.6% during the second quarter. Parallel Advisors LLC now owns 1,620 shares of the technology company’s stock valued at $187,000 after buying an additional 206 shares during the last quarter. Finally, HighTower Advisors LLC grew its holdings in shares of NetEase by 8.1% during the second quarter. HighTower Advisors LLC now owns 4,717 shares of the technology company’s stock valued at $545,000 after buying an additional 354 shares during the last quarter. 33.20% of the stock is owned by hedge funds and other institutional investors.

Shares of NTES stock opened at $84.52 on Wednesday. The firm has a market cap of $56.62 billion, a price-to-earnings ratio of 31.66, a P/E/G ratio of 1.26 and a beta of 0.41. NetEase, Inc. has a 52 week low of $77.97 and a 52 week high of $134.33. The firm’s 50-day simple moving average is $96.18 and its two-hundred day simple moving average is $104.71.

NetEase (NASDAQ:NTES) last announced its quarterly earnings data on Monday, August 30th. The technology company reported $6.24 EPS for the quarter, topping the consensus estimate of $0.78 by $5.46. The business had revenue of $20.52 billion for the quarter, compared to analyst estimates of $20.66 billion. NetEase had a net margin of 15.03% and a return on equity of 13.91%. The company’s revenue for the quarter was up 12.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $34.58 earnings per share. As a group, analysts expect that NetEase, Inc. will post 3.39 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 30th. Shareholders of record on Tuesday, September 14th will be given a $0.24 dividend. This is a positive change from NetEase’s previous quarterly dividend of $0.06. The ex-dividend date of this dividend is Monday, September 13th. This represents a $0.96 annualized dividend and a yield of 1.14%. NetEase’s payout ratio is currently 43.12%.

A number of research analysts have recently issued reports on NTES shares. UBS Group lifted their price objective on shares of NetEase from $133.00 to $139.00 and gave the company a “buy” rating in a report on Wednesday, May 19th. CLSA cut their price target on shares of NetEase from $159.00 to $134.00 and set a “buy” rating on the stock in a report on Wednesday, May 19th. HSBC cut their price target on shares of NetEase from $137.00 to $125.00 and set a “buy” rating on the stock in a report on Wednesday, September 1st. Macquarie cut their price target on shares of NetEase from $124.00 to $118.00 and set an “in-line” rating on the stock in a report on Wednesday, May 19th. Finally, Zacks Investment Research cut shares of NetEase from a “hold” rating to a “sell” rating in a report on Friday, September 3rd. One analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $129.63.

NetEase Profile

NetEase, Inc is an internet technology company, which premium online services centered around content, community, communication and commerce. It develops and operates some of the most popular PC-client and mobile games in China. The firm also operates some of the most popular international online games in China by partnering with Blizzard Entertainment, Mojang AB (a Microsoft subsidiary) and other global game developers.

Further Reading: Euro STOXX 50 Index

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Institutional Ownership by Quarter for NetEase (NASDAQ:NTES)

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