Summit Global Investments Increases Stock Holdings in NetEase, Inc. (NASDAQ:NTES)

Summit Global Investments grew its stake in shares of NetEase, Inc. (NASDAQ:NTES) by 184.9% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 30,778 shares of the technology company’s stock after buying an additional 19,976 shares during the period. Summit Global Investments’ holdings in NetEase were worth $2,942,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Mather Group LLC. increased its stake in NetEase by 1,415.0% in the 2nd quarter. Mather Group LLC. now owns 303 shares of the technology company’s stock worth $31,000 after acquiring an additional 283 shares during the last quarter. USA Financial Formulas boosted its holdings in shares of NetEase by 1,153.1% in the 4th quarter. USA Financial Formulas now owns 401 shares of the technology company’s stock worth $37,000 after purchasing an additional 369 shares during the period. UMB Bank n.a. purchased a new position in shares of NetEase in the 1st quarter worth approximately $50,000. ORG Partners LLC purchased a new position in NetEase during the 1st quarter valued at $50,000. Finally, Lindbrook Capital LLC boosted its holdings in NetEase by 14.0% during the 4th quarter. Lindbrook Capital LLC now owns 1,043 shares of the technology company’s stock valued at $97,000 after acquiring an additional 128 shares during the period. 11.07% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

NTES has been the subject of several research reports. StockNews.com cut NetEase from a “strong-buy” rating to a “buy” rating in a report on Saturday, July 20th. Barclays started coverage on NetEase in a research report on Thursday, June 13th. They set an “equal weight” rating and a $104.00 target price on the stock. Benchmark increased their price objective on NetEase from $144.00 to $145.00 and gave the company a “buy” rating in a report on Friday, May 24th. HSBC cut their price objective on NetEase from $130.00 to $126.00 and set a “buy” rating on the stock in a report on Wednesday, April 24th. Finally, Morgan Stanley reissued an “equal weight” rating and issued a $100.00 price objective on shares of NetEase in a report on Friday, July 5th. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $123.86.

NetEase Trading Down 2.5 %

NTES traded down $2.33 on Tuesday, hitting $90.22. 1,474,897 shares of the company were exchanged, compared to its average volume of 1,690,589. NetEase, Inc. has a twelve month low of $81.30 and a twelve month high of $118.89. The company has a market cap of $57.94 billion, a price-to-earnings ratio of 13.99, a price-to-earnings-growth ratio of 1.81 and a beta of 0.53. The firm has a 50-day moving average price of $92.00 and a two-hundred day moving average price of $97.49.

NetEase (NASDAQ:NTES) last released its earnings results on Thursday, May 23rd. The technology company reported $1.63 EPS for the quarter, missing the consensus estimate of $1.68 by ($0.05). The company had revenue of $3.72 billion for the quarter, compared to analyst estimates of $3.61 billion. NetEase had a return on equity of 24.19% and a net margin of 28.75%. Equities analysts expect that NetEase, Inc. will post 6.7 EPS for the current year.

NetEase Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 21st. Stockholders of record on Thursday, June 6th were given a dividend of $0.495 per share. The ex-dividend date of this dividend was Thursday, June 6th. This represents a $1.98 annualized dividend and a dividend yield of 2.19%. NetEase’s dividend payout ratio is currently 30.54%.

NetEase Company 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.