Concurrent Investment Advisors LLC Acquires Shares of 2,437 NetEase, Inc. (NASDAQ:NTES)

Concurrent Investment Advisors LLC bought a new position in NetEase, Inc. (NASDAQ:NTES) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 2,437 shares of the technology company’s stock, valued at approximately $217,000.

Several other institutional investors have also made changes to their positions in NTES. Brooklyn Investment Group purchased a new stake in shares of NetEase in the 4th quarter valued at approximately $34,000. UMB Bank n.a. raised its stake in NetEase by 33.3% during the 4th quarter. UMB Bank n.a. now owns 444 shares of the technology company’s stock valued at $40,000 after purchasing an additional 111 shares during the period. Highline Wealth Partners LLC purchased a new stake in shares of NetEase in the third quarter valued at $45,000. RPg Family Wealth Advisory LLC acquired a new stake in shares of NetEase in the third quarter worth $70,000. Finally, Allspring Global Investments Holdings LLC purchased a new position in shares of NetEase during the third quarter valued at $76,000. 11.07% of the stock is owned by hedge funds and other institutional investors.

NetEase Stock Performance

Shares of NTES opened at $99.61 on Wednesday. The firm has a market cap of $63.97 billion, a PE ratio of 15.64, a PEG ratio of 3.37 and a beta of 0.58. The firm’s 50 day moving average price is $98.00 and its 200 day moving average price 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 released its quarterly earnings results on Thursday, February 20th. The technology company reported $1.87 earnings per share for the quarter, beating analysts’ consensus estimates of $1.73 by $0.14. The business had revenue of $3.66 billion for the quarter, compared to the consensus estimate of $27.16 billion. NetEase had a net margin of 28.17% and a return on equity of 22.12%. On average, sell-side analysts anticipate that NetEase, Inc. will post 6.91 earnings per share for the current fiscal year.

NetEase Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Thursday, March 6th will be given 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 dividend yield of 1.75%. NetEase’s dividend payout ratio is currently 76.61%.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the company. StockNews.com downgraded NetEase from a “strong-buy” rating to a “buy” rating in a research note on Friday, December 6th. Bank of America increased their price target on shares of NetEase from $120.00 to $122.00 and gave the stock a “buy” rating in a research report on Wednesday, January 15th. Benchmark boosted their price objective on shares of NetEase from $105.00 to $115.00 and gave the company a “buy” rating in a research report on Friday, February 21st. Morgan Stanley increased their target price on shares of NetEase from $108.00 to $117.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 12th. Finally, Barclays boosted their price target on shares of NetEase from $82.00 to $104.00 and gave the company an “equal weight” rating in a report on Monday. One research analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $114.57.

NetEase 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.