Van ECK Associates Corp Has $62.32 Million Position in NetEase, Inc. (NASDAQ:NTES)

Van ECK Associates Corp lifted its holdings in NetEase, Inc. (NASDAQ:NTES) by 12.3% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 666,411 shares of the technology company’s stock after purchasing an additional 72,988 shares during the period. Van ECK Associates Corp’s holdings in NetEase were worth $62,316,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in NTES. Coronation Fund Managers Ltd. increased its position in NetEase by 54.4% in the 3rd quarter. Coronation Fund Managers Ltd. now owns 161,780 shares of the technology company’s stock worth $15,128,000 after buying an additional 56,997 shares during the period. Caas Capital Management LP increased its position in NetEase by 225.3% during the third quarter. Caas Capital Management LP now owns 16,267 shares of the technology company’s stock worth $1,521,000 after acquiring an additional 11,267 shares during the period. Financial Advocates Investment Management raised its stake in NetEase by 5.4% during the 3rd quarter. Financial Advocates Investment Management now owns 4,647 shares of the technology company’s stock valued at $435,000 after purchasing an additional 237 shares during the last quarter. Highline Wealth Partners LLC bought a new stake in NetEase in the 3rd quarter valued at $45,000. Finally, Arkadios Wealth Advisors acquired a new stake in NetEase in the 3rd quarter worth $297,000. Institutional investors and hedge funds own 11.07% of the company’s stock.

NetEase Price Performance

NetEase stock opened at $79.12 on Monday. The business has a 50 day simple moving average of $83.79 and a 200 day simple moving average of $89.95. NetEase, Inc. has a one year low of $75.85 and a one year high of $118.89. The company has a market capitalization of $50.81 billion, a PE ratio of 12.91, a price-to-earnings-growth ratio of 1.78 and a beta of 0.57.

NetEase (NASDAQ:NTES) last issued its earnings results on Thursday, August 22nd. The technology company reported $12.05 EPS for the quarter, beating the consensus estimate of $1.62 by $10.43. The company had revenue of $25.49 billion for the quarter, compared to the consensus estimate of $26.01 billion. NetEase had a net margin of 26.98% and a return on equity of 22.30%. The firm’s revenue for the quarter was up 6.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.75 EPS. Equities analysts anticipate that NetEase, Inc. will post 6.02 earnings per share for the current fiscal year.

NetEase Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 20th. Shareholders of record on Friday, September 6th were paid a dividend of $0.435 per share. The ex-dividend date was Friday, September 6th. This represents a $1.74 annualized dividend and a yield of 2.20%. NetEase’s dividend payout ratio is 28.22%.

Wall Street Analyst Weigh In

NTES has been the subject of a number of research analyst reports. Bank of America cut their price objective on shares of NetEase from $142.00 to $120.00 and set a “buy” rating for the company in a research report on Friday, August 23rd. StockNews.com lowered NetEase from a “strong-buy” rating to a “buy” rating in a report on Saturday, July 20th. Jefferies Financial Group cut their target price on NetEase from $126.00 to $103.00 and set a “buy” rating for the company in a research note on Thursday, August 22nd. Finally, Barclays decreased their price target on shares of NetEase from $104.00 to $82.00 and set an “equal weight” rating on the stock in a research note on Monday, August 26th. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $112.67.

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.