Loring Wolcott & Coolidge Fiduciary Advisors LLP MA Has $116,000 Position in NetEase, Inc. (NASDAQ:NTES)

Loring Wolcott & Coolidge Fiduciary Advisors LLP MA lessened its position in NetEase, Inc. (NASDAQ:NTES) by 13.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,190 shares of the technology company’s stock after selling 185 shares during the period. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA’s holdings in NetEase were worth $116,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Private Trust Co. NA increased its stake in shares of NetEase by 418.9% in the fourth quarter. Private Trust Co. NA now owns 275 shares of the technology company’s stock valued at $26,000 after buying an additional 222 shares during the period. Chilton Capital Management LLC acquired a new stake in NetEase during the fourth quarter worth approximately $37,000. Headlands Technologies LLC acquired a new stake in NetEase during the third quarter worth approximately $56,000. CVA Family Office LLC acquired a new stake in NetEase during the fourth quarter worth approximately $65,000. Finally, Huntington National Bank grew its stake in NetEase by 31.4% during the third quarter. Huntington National Bank now owns 678 shares of the technology company’s stock worth $68,000 after purchasing an additional 162 shares during the period. Institutional investors and hedge funds own 11.07% of the company’s stock.

Wall Street Analysts Forecast Growth

NTES has been the subject of several recent analyst reports. Morgan Stanley decreased their target price on NetEase from $135.00 to $120.00 and set an “overweight” rating for the company in a research note on Friday, April 12th. StockNews.com raised NetEase from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, March 26th. Six research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $126.00.

NetEase Stock Performance

Shares of NASDAQ:NTES opened at $93.07 on Wednesday. NetEase, Inc. has a 52-week low of $80.79 and a 52-week high of $118.89. The business’s 50 day simple moving average is $103.05 and its two-hundred day simple moving average is $103.15. The firm has a market cap of $60.00 billion, a P/E ratio of 14.70, a PEG ratio of 0.86 and a beta of 0.58.

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

NetEase Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Thursday, March 14th were issued a $1.08 dividend. This represents a $4.32 dividend on an annualized basis and a dividend yield of 4.64%. The ex-dividend date was Wednesday, March 13th. This is a positive change from NetEase’s previous quarterly dividend of $0.50. NetEase’s dividend payout ratio (DPR) is currently 68.09%.

About NetEase

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.