Global X Management Co. LLC increased its position in shares of NetEase Inc (NASDAQ:NTES) by 20.2% in the fourth quarter, HoldingsChannel reports. The firm owned 34,444 shares of the technology company’s stock after acquiring an additional 5,779 shares during the quarter. Global X Management Co. LLC’s holdings in NetEase were worth $11,886,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of NTES. Ladenburg Thalmann Financial Services Inc. grew its stake in shares of NetEase by 117.6% during the third quarter. Ladenburg Thalmann Financial Services Inc. now owns 494 shares of the technology company’s stock worth $131,000 after purchasing an additional 267 shares in the last quarter. PNC Financial Services Group Inc. grew its stake in shares of NetEase by 22.4% during the second quarter. PNC Financial Services Group Inc. now owns 536 shares of the technology company’s stock worth $161,000 after purchasing an additional 98 shares in the last quarter. Cibc Bank USA acquired a new position in shares of NetEase during the fourth quarter worth $204,000. Raymond James Financial Services Advisors Inc. acquired a new position in shares of NetEase during the second quarter worth $218,000. Finally, Hikari Power Ltd acquired a new position in shares of NetEase during the fourth quarter worth $242,000. Hedge funds and other institutional investors own 48.15% of the company’s stock.

Shares of NetEase Inc (NASDAQ NTES) opened at $306.05 on Thursday. NetEase Inc has a 1-year low of $253.20 and a 1-year high of $377.64. The company has a market cap of $39,644.83, a PE ratio of 25.61, a PEG ratio of 1.72 and a beta of 0.75.

NetEase (NASDAQ:NTES) last announced its earnings results on Wednesday, November 15th. The technology company reported $2.86 EPS for the quarter, beating analysts’ consensus estimates of $2.66 by $0.20. NetEase had a net margin of 19.64% and a return on equity of 24.93%. The business had revenue of $1.88 billion during the quarter, compared to analysts’ expectations of $1.84 billion. analysts predict that NetEase Inc will post 13.25 EPS for the current fiscal year.

NetEase announced that its Board of Directors has approved a share repurchase plan on Wednesday, November 15th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the technology company to repurchase shares of its stock through open market purchases. Shares repurchase plans are typically a sign that the company’s board believes its shares are undervalued.

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 2nd. Stockholders of record on Friday, February 23rd will be issued a $0.38 dividend. The ex-dividend date is Thursday, February 22nd. This represents a $1.52 dividend on an annualized basis and a dividend yield of 0.50%. NetEase’s payout ratio is 30.38%.

NTES has been the subject of a number of research reports. UBS Group cut shares of NetEase from a “buy” rating to a “neutral” rating in a research report on Monday, October 30th. Vetr cut shares of NetEase from a “strong-buy” rating to a “buy” rating and set a $313.68 price target for the company. in a research report on Monday, November 6th. ValuEngine raised shares of NetEase from a “hold” rating to a “buy” rating in a research report on Friday, November 10th. CLSA cut shares of NetEase from an “underperform” rating to a “sell” rating and set a $283.00 price target for the company. in a research report on Thursday, November 16th. Finally, Citigroup reissued a “buy” rating and issued a $351.00 price target on shares of NetEase in a research report on Thursday, November 16th. Three research analysts have rated the stock with a sell rating, seven have assigned a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $349.14.

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NetEase Company Profile

NetEase, Inc (NetEase) is a technology company. The Company operates an interactive online community in China and is a provider of Chinese language content and services through its online games, Internet media, e-mail, e-commerce and other businesses. The Company operates through three segments: Online Game Services; Advertising Services, and E-mail, E-commerce and Others.

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Institutional Ownership by Quarter for NetEase (NASDAQ:NTES)

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