Todd Asset Management LLC Sells 3,935 Shares of NetEase, Inc. (NASDAQ:NTES)

Todd Asset Management LLC reduced its holdings in NetEase, Inc. (NASDAQ:NTES) by 1.3% in the fourth quarter, HoldingsChannel reports. The firm owned 290,620 shares of the technology company’s stock after selling 3,935 shares during the period. Todd Asset Management LLC’s holdings in NetEase were worth $27,074,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in NTES. ABS Direct Equity Fund LLC bought a new stake in shares of NetEase during the fourth quarter valued at approximately $289,000. M&T Bank Corp increased its holdings in shares of NetEase by 12.4% during the fourth quarter. M&T Bank Corp now owns 18,820 shares of the technology company’s stock valued at $1,753,000 after acquiring an additional 2,075 shares in the last quarter. Benjamin F. Edwards & Company Inc. increased its holdings in shares of NetEase by 14.2% during the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 1,830 shares of the technology company’s stock valued at $171,000 after acquiring an additional 227 shares in the last quarter. Natixis Advisors L.P. increased its holdings in shares of NetEase by 5.8% during the fourth quarter. Natixis Advisors L.P. now owns 138,960 shares of the technology company’s stock valued at $12,945,000 after acquiring an additional 7,616 shares in the last quarter. Finally, First Trust Direct Indexing L.P. increased its holdings in shares of NetEase by 7.8% during the fourth quarter. First Trust Direct Indexing L.P. now owns 5,950 shares of the technology company’s stock valued at $554,000 after acquiring an additional 432 shares in the last quarter. 11.07% of the stock is currently owned by institutional investors.

NetEase Trading Up 4.1 %

NetEase stock traded up $4.07 during trading on Friday, hitting $103.02. 2,724,344 shares of the company were exchanged, compared to its average volume of 1,456,896. The business’s 50 day moving average is $101.20 and its 200 day moving average is $102.64. NetEase, Inc. has a 52 week low of $80.79 and a 52 week high of $118.89. The company has a market capitalization of $66.42 billion, a P/E ratio of 16.27, a PEG ratio of 0.94 and a beta of 0.58.

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

NetEase Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Thursday, March 14th were given a $1.08 dividend. The ex-dividend date of this dividend was Wednesday, March 13th. This represents a $4.32 annualized dividend and a yield of 4.19%. This is a boost from NetEase’s previous quarterly dividend of $0.50. NetEase’s payout ratio is currently 68.09%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on NTES shares. HSBC decreased their price objective on NetEase from $130.00 to $126.00 and set a “buy” rating for the company in a report on Wednesday, April 24th. Morgan Stanley decreased their price objective on NetEase from $135.00 to $120.00 and set an “overweight” rating for the company in a report on Friday, April 12th. Finally, StockNews.com downgraded NetEase from a “strong-buy” rating to a “buy” rating in a report on Monday, April 29th. Eight equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $126.00.

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.