Somerset Capital Management LLP lessened its holdings in NetEase Inc (NASDAQ:NTES) by 1.4% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 132,896 shares of the technology company’s stock after selling 1,900 shares during the quarter. NetEase accounts for 7.4% of Somerset Capital Management LLP’s investment portfolio, making the stock its 5th largest position. Somerset Capital Management LLP owned approximately 0.10% of NetEase worth $33,966,000 as of its most recent SEC filing.
Other large investors have also made changes to their positions in the company. Genesis Asset Managers LLP purchased a new position in shares of NetEase during the 2nd quarter valued at $194,253,000. Lazard Asset Management LLC lifted its position in shares of NetEase by 15.1% during the 1st quarter. Lazard Asset Management LLC now owns 3,958,410 shares of the technology company’s stock valued at $955,757,000 after buying an additional 518,036 shares during the last quarter. Coronation Fund Managers Ltd. lifted its position in shares of NetEase by 980.8% during the 1st quarter. Coronation Fund Managers Ltd. now owns 220,055 shares of the technology company’s stock valued at $53,133,000 after buying an additional 199,694 shares during the last quarter. Newport Asia LLC purchased a new position in shares of NetEase during the 1st quarter valued at $47,498,000. Finally, Janus Henderson Group PLC lifted its position in shares of NetEase by 705.3% during the 2nd quarter. Janus Henderson Group PLC now owns 163,112 shares of the technology company’s stock valued at $41,728,000 after buying an additional 142,857 shares during the last quarter. Hedge funds and other institutional investors own 46.49% of the company’s stock.
A number of research analysts have recently commented on the company. Jefferies Financial Group assumed coverage on NetEase in a research report on Monday, August 5th. They set a “buy” rating and a $274.60 price target on the stock. TH Capital upped their price target on NetEase from $270.00 to $310.00 and gave the company a “buy” rating in a research report on Monday, May 13th. BidaskClub raised NetEase from a “strong sell” rating to a “sell” rating in a research report on Monday. Barclays upped their price target on NetEase from $300.00 to $320.00 and gave the company an “overweight” rating in a research report on Monday, May 20th. Finally, Zacks Investment Research raised NetEase from a “hold” rating to a “buy” rating and set a $238.00 price target on the stock in a research report on Thursday, August 8th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and eleven have assigned a buy rating to the company. NetEase currently has an average rating of “Buy” and an average price target of $277.34.
NetEase (NASDAQ:NTES) last released its quarterly earnings results on Wednesday, May 15th. The technology company reported $2.75 earnings per share for the quarter, beating the consensus estimate of $1.86 by $0.89. NetEase had a return on equity of 18.39% and a net margin of 11.86%. The firm had revenue of $2.74 billion for the quarter, compared to analysts’ expectations of $2.73 billion. During the same quarter last year, the firm posted $1.59 EPS. The company’s revenue was up 23.0% compared to the same quarter last year. Equities analysts predict that NetEase Inc will post 10.28 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, August 30th. Shareholders of record on Friday, August 23rd will be issued a $1.04 dividend. The ex-dividend date is Thursday, August 22nd. This represents a $4.16 annualized dividend and a dividend yield of 1.61%. This is a boost from NetEase’s previous quarterly dividend of $0.69. NetEase’s dividend payout ratio (DPR) is presently 40.03%.
NetEase, Inc operates an interactive online community in the People's Republic of China. The company operates in four segments: Online Games Services, E-Commerce, Advertising Services, and Innovative Businesses and Other Services. It offers various games in a range of genres through mobile devices and PCs, including role-playing games, MMORPGs, battle arena games, simulation games, collectible card games, first-person shooter games, sandbox games, and other types of games to the Chinese market.
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