2,437 Shares in NetEase, Inc. (NASDAQ:NTES) Bought by Concurrent Investment Advisors LLC

Concurrent Investment Advisors LLC purchased a new stake in NetEase, Inc. (NASDAQ:NTES) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 2,437 shares of the technology company’s stock, valued at approximately $217,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. UMB Bank n.a. raised its position 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 buying an additional 111 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. increased its stake in NetEase by 1.6% during the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 7,190 shares of the technology company’s stock valued at $641,000 after acquiring an additional 114 shares during the period. Brighton Jones LLC raised its holdings in NetEase by 1.1% in the 4th quarter. Brighton Jones LLC now owns 10,297 shares of the technology company’s stock valued at $919,000 after acquiring an additional 117 shares in the last quarter. State Street Corp lifted its position in shares of NetEase by 0.3% in the 3rd quarter. State Street Corp now owns 56,729 shares of the technology company’s stock worth $5,305,000 after acquiring an additional 156 shares during the period. Finally, Euro Pacific Asset Management LLC lifted its position in shares of NetEase by 1.3% in the 4th quarter. Euro Pacific Asset Management LLC now owns 13,137 shares of the technology company’s stock worth $1,172,000 after acquiring an additional 173 shares during the period. 11.07% of the stock is currently owned by institutional investors and hedge funds.

NetEase Stock Performance

NTES opened at $99.61 on Wednesday. The firm has a market cap of $63.97 billion, a price-to-earnings ratio of 15.64, a PEG ratio of 3.37 and a beta of 0.58. The firm’s 50-day simple moving average is $98.00 and its 200-day simple moving average is $89.91. NetEase, Inc. has a twelve month low of $75.85 and a twelve month high of $114.50.

NetEase (NASDAQ:NTES) last issued its quarterly earnings data on Thursday, February 20th. The technology company reported $1.87 earnings per share for the quarter, topping the consensus estimate of $1.73 by $0.14. The firm had revenue of $3.66 billion for the quarter, compared to analysts’ expectations of $27.16 billion. NetEase had a net margin of 28.17% and a return on equity of 22.12%. As a group, sell-side analysts anticipate that NetEase, Inc. will post 6.91 EPS for the current fiscal year.

NetEase Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Thursday, March 6th will be issued a dividend of $0.435 per share. The ex-dividend date of this dividend is Thursday, March 6th. This represents a $1.74 dividend on an annualized basis and a yield of 1.75%. NetEase’s dividend payout ratio is 76.61%.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on NTES shares. Benchmark boosted their price objective on NetEase from $105.00 to $115.00 and gave the company a “buy” rating in a research report on Friday, February 21st. Bank of America boosted their price target on shares of NetEase from $120.00 to $122.00 and gave the company a “buy” rating in a report on Wednesday, January 15th. Morgan Stanley raised their price objective on shares of NetEase from $108.00 to $117.00 and gave the stock an “overweight” rating in a report on Wednesday, February 12th. StockNews.com cut shares of NetEase from a “strong-buy” rating to a “buy” rating in a research note on Friday, December 6th. Finally, Citigroup raised their price target on shares of NetEase from $108.00 to $115.00 and gave the stock a “buy” rating in a research note on Friday, November 15th. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, NetEase currently has a consensus rating of “Moderate Buy” and a consensus price target of $114.57.

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.