Bank of America Corp DE Has $71.83 Million Stock Position in NetEase, Inc. (NASDAQ:NTES)

Bank of America Corp DE lessened its stake in NetEase, Inc. (NASDAQ:NTES) by 23.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 805,194 shares of the technology company’s stock after selling 249,150 shares during the quarter. Bank of America Corp DE owned about 0.13% of NetEase worth $71,831,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Farther Finance Advisors LLC grew its position in NetEase by 81.7% in the fourth quarter. Farther Finance Advisors LLC now owns 338 shares of the technology company’s stock valued at $30,000 after acquiring an additional 152 shares during the last quarter. Brooklyn Investment Group bought a new stake in NetEase in the fourth quarter valued at approximately $34,000. UMB Bank n.a. boosted its holdings in NetEase by 33.3% in the fourth quarter. UMB Bank n.a. now owns 444 shares of the technology company’s stock valued at $40,000 after acquiring an additional 111 shares during the last quarter. Live Oak Investment Partners acquired a new position in NetEase in the fourth quarter valued at approximately $62,000. Finally, Avior Wealth Management LLC lifted its position in shares of NetEase by 148.9% during the 4th quarter. Avior Wealth Management LLC now owns 993 shares of the technology company’s stock valued at $89,000 after acquiring an additional 594 shares during the period. Institutional investors and hedge funds own 11.07% of the company’s stock.

NetEase Trading Up 3.3%

Shares of NetEase stock opened at $106.82 on Tuesday. NetEase, Inc. has a 12-month low of $75.85 and a 12-month high of $110.66. The company has a market cap of $67.68 billion, a price-to-earnings ratio of 16.77, a PEG ratio of 3.37 and a beta of 0.66. The company’s 50-day moving average price is $101.77 and its 200-day moving average price is $96.41.

NetEase (NASDAQ:NTES) last posted its quarterly earnings data on Thursday, February 20th. The technology company reported $1.87 earnings per share for the quarter, topping the consensus estimate of $1.73 by $0.14. The company had revenue of $3.66 billion for the quarter, compared to analysts’ expectations of $27.16 billion. NetEase had a net margin of 28.17% and a return on equity of 22.12%. On average, sell-side analysts predict that NetEase, Inc. will post 6.91 earnings per share for the current year.

NetEase Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Thursday, March 6th were given a dividend of $0.435 per share. This represents a $1.74 dividend on an annualized basis and a yield of 1.63%. The ex-dividend date of this dividend was Thursday, March 6th. NetEase’s payout ratio is currently 76.45%.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on NTES shares. Deutsche Bank Aktiengesellschaft assumed coverage on shares of NetEase in a research report on Monday. They set a “buy” rating and a $130.00 target price on the stock. Morgan Stanley upped their target price on shares of NetEase from $108.00 to $117.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 12th. Barclays upped their target price on shares of NetEase from $82.00 to $104.00 and gave the stock an “equal weight” rating in a research note on Monday, February 24th. Bank of America increased their price target on shares of NetEase from $120.00 to $122.00 and gave the company a “buy” rating in a research report on Wednesday, January 15th. Finally, Benchmark upped their price objective on shares of NetEase from $105.00 to $115.00 and gave the company a “buy” rating in a report on Friday, February 21st. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $115.14.

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.