597,320 Shares in NetEase, Inc. (NASDAQ:NTES) Acquired by Davis Selected Advisers

Davis Selected Advisers acquired a new position in shares of NetEase, Inc. (NASDAQ:NTES) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 597,320 shares of the technology company’s stock, valued at approximately $53,287,000. Davis Selected Advisers owned approximately 0.09% of NetEase as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. UMB Bank n.a. increased its stake in NetEase by 33.3% during the fourth quarter. UMB Bank n.a. now owns 444 shares of the technology company’s stock worth $40,000 after acquiring 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 worth $641,000 after acquiring an additional 114 shares during the last quarter. Brighton Jones LLC increased its stake in NetEase by 1.1% during the fourth quarter. Brighton Jones LLC now owns 10,297 shares of the technology company’s stock worth $919,000 after acquiring an additional 117 shares during the last quarter. State Street Corp increased its stake in NetEase by 0.3% during the third 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 last quarter. Finally, Euro Pacific Asset Management LLC increased its stake in NetEase by 1.3% during the fourth 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 last quarter. Hedge funds and other institutional investors own 11.07% of the company’s stock.

Analyst Upgrades and Downgrades

NTES has been the subject of several recent analyst reports. Benchmark raised their target price on NetEase from $105.00 to $115.00 and gave the stock a “buy” rating in a research note on Friday, February 21st. Citigroup lifted their price objective on NetEase from $108.00 to $115.00 and gave the company a “buy” rating in a research note on Friday, November 15th. Morgan Stanley lifted their price objective on NetEase from $108.00 to $117.00 and gave the company an “overweight” rating in a research note on Wednesday, February 12th. Bank of America lifted their price objective on NetEase from $120.00 to $122.00 and gave the company a “buy” rating in a research note on Wednesday, January 15th. Finally, StockNews.com cut NetEase from a “strong-buy” rating to a “buy” rating in a research note on Friday, December 6th. One analyst has rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $114.57.

NetEase Trading Up 0.8 %

NASDAQ:NTES opened at $102.78 on Friday. The firm has a market cap of $66.00 billion, a PE ratio of 16.14, a price-to-earnings-growth ratio of 3.37 and a beta of 0.61. The stock has a fifty day moving average price of $99.41 and a 200 day moving average price of $90.52. NetEase, Inc. has a 12-month low of $75.85 and a 12-month high of $111.12.

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

NetEase Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Thursday, March 6th will be issued a $0.435 dividend. 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 1.69%. NetEase’s dividend payout ratio (DPR) is presently 76.45%.

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.