BlackRock Inc. Grows Holdings in NetEase Inc (NTES)

BlackRock Inc. boosted its holdings in shares of NetEase Inc (NASDAQ:NTES) by 5.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,963,150 shares of the technology company’s stock after buying an additional 243,978 shares during the period. BlackRock Inc.’s holdings in NetEase were worth $1,712,636,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Ameritas Investment Partners Inc. raised its holdings in NetEase by 1.3% during the second quarter. Ameritas Investment Partners Inc. now owns 1,366 shares of the technology company’s stock worth $411,000 after buying an additional 17 shares during the last quarter. PNC Financial Services Group Inc. raised its holdings in 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 buying an additional 98 shares during the last quarter. Janney Montgomery Scott LLC raised its holdings in NetEase by 2.5% during the third quarter. Janney Montgomery Scott LLC now owns 7,021 shares of the technology company’s stock worth $1,852,000 after buying an additional 170 shares during the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. raised its holdings in NetEase by 1.9% during the fourth quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 10,215 shares of the technology company’s stock worth $3,493,000 after buying an additional 189 shares during the last quarter. Finally, Pacer Advisors Inc. raised its holdings in NetEase by 19.3% during the third quarter. Pacer Advisors Inc. now owns 1,187 shares of the technology company’s stock worth $313,000 after buying an additional 192 shares during the last quarter. Hedge funds and other institutional investors own 48.15% of the company’s stock.

Several research firms have recently issued reports on NTES. Vetr upgraded shares of NetEase from a “buy” rating to a “strong-buy” rating and set a $375.44 target price for the company in a research note on Wednesday, January 10th. BidaskClub lowered shares of NetEase from a “hold” rating to a “sell” rating in a research note on Thursday, January 11th. Benchmark reduced their target price on shares of NetEase from $360.00 to $340.00 and set a “buy” rating for the company in a research note on Thursday, November 16th. Deutsche Bank set a $334.00 target price on shares of NetEase and gave the stock a “buy” rating in a research note on Thursday, November 16th. Finally, CLSA upgraded shares of NetEase from a “sell” rating to an “underperform” rating in a research note on Thursday, February 8th. Three equities research analysts have rated the stock with a sell rating, six have given a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $349.14.

NetEase Inc (NASDAQ:NTES) opened at $307.44 on Monday. The firm has a market cap of $40,610.00, a PE ratio of 24.17, a P/E/G ratio of 1.76 and a beta of 0.75. NetEase Inc has a 1 year low of $253.20 and a 1 year high of $377.64.

The business also recently declared a quarterly dividend, which will be paid on Friday, March 2nd. Investors of record on Friday, February 23rd will be given a dividend of $0.38 per share. The ex-dividend date is Thursday, February 22nd. This represents a $1.52 annualized dividend and a yield of 0.49%. NetEase’s payout ratio is currently 28.54%.

NetEase declared that its board has authorized a stock buyback plan on Wednesday, November 15th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the technology company to reacquire shares of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s board believes its shares are undervalued.

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About NetEase

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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