Cerity Partners LLC Purchases 775 Shares of NetEase, Inc. (NASDAQ:NTES)

Cerity Partners LLC grew its holdings in NetEase, Inc. (NASDAQ:NTES) by 15.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 5,813 shares of the technology company’s stock after purchasing an additional 775 shares during the quarter. Cerity Partners LLC’s holdings in NetEase were worth $542,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the business. Private Trust Co. NA boosted its stake in NetEase by 418.9% in the fourth quarter. Private Trust Co. NA now owns 275 shares of the technology company’s stock valued at $26,000 after acquiring an additional 222 shares during the last quarter. Chilton Capital Management LLC acquired a new stake in shares of NetEase during the fourth quarter worth $37,000. Headlands Technologies LLC bought a new stake in NetEase in the third quarter valued at about $56,000. CVA Family Office LLC acquired a new position in NetEase in the fourth quarter valued at about $65,000. Finally, Huntington National Bank boosted its holdings in NetEase by 31.4% during the third quarter. Huntington National Bank now owns 678 shares of the technology company’s stock worth $68,000 after buying an additional 162 shares during the last quarter. Institutional investors and hedge funds own 11.07% of the company’s stock.

NetEase Price Performance

Shares of NetEase stock opened at $94.02 on Thursday. The firm has a market cap of $60.62 billion, a price-to-earnings ratio of 14.85, a price-to-earnings-growth ratio of 0.86 and a beta of 0.58. The stock’s 50-day moving average is $102.78 and its 200-day moving average is $103.09. NetEase, Inc. has a one year low of $80.79 and a one year high of $118.89.

NetEase (NASDAQ:NTES) last issued its quarterly earnings results on Thursday, February 29th. The technology company reported $1.42 EPS for the quarter, missing analysts’ consensus estimates of $1.62 by ($0.20). The firm had revenue of $3.82 billion during the quarter, compared to the consensus estimate of $3.96 billion. NetEase had a net margin of 28.39% and a return on equity of 24.36%. On average, equities analysts expect that NetEase, Inc. will post 7.04 EPS for the current year.

NetEase Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Thursday, March 14th were issued a dividend of $1.08 per share. This represents a $4.32 annualized dividend and a yield of 4.59%. The ex-dividend date of this dividend was Wednesday, March 13th. This is a positive change from NetEase’s previous quarterly dividend of $0.50. NetEase’s dividend payout ratio is presently 68.09%.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on NTES. StockNews.com raised shares of NetEase from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, March 26th. Morgan Stanley decreased their price target on shares of NetEase from $135.00 to $120.00 and set an “overweight” rating for the company in a report on Friday, April 12th. Finally, HSBC dropped their price objective on NetEase from $130.00 to $126.00 and set a “buy” rating on the stock in a research note on Wednesday. Seven investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $126.00.

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.