Prospera Financial Services Inc Takes $1.40 Million Position in NetEase, Inc. $NTES

Prospera Financial Services Inc purchased a new position in NetEase, Inc. (NASDAQ:NTES) in the fourth quarter, HoldingsChannel.com reports. The firm purchased 10,195 shares of the technology company’s stock, valued at approximately $1,403,000.

Several other large investors also recently bought and sold shares of the company. Kingdom Financial Group LLC. acquired a new stake in NetEase in the fourth quarter valued at approximately $292,000. Leonteq Securities AG acquired a new stake in NetEase in the fourth quarter valued at approximately $659,000. Banque Cantonale Vaudoise grew its position in NetEase by 4.6% in the fourth quarter. Banque Cantonale Vaudoise now owns 4,621 shares of the technology company’s stock valued at $636,000 after acquiring an additional 202 shares in the last quarter. Fairtree Asset Management Pty Ltd acquired a new stake in NetEase in the fourth quarter valued at approximately $542,000. Finally, PNC Financial Services Group Inc. grew its position in NetEase by 3.5% in the fourth quarter. PNC Financial Services Group Inc. now owns 10,924 shares of the technology company’s stock valued at $1,503,000 after acquiring an additional 371 shares in the last quarter. Institutional investors and hedge funds own 11.07% of the company’s stock.

NetEase Trading Up 0.5%

Shares of NASDAQ NTES opened at $123.92 on Thursday. NetEase, Inc. has a twelve month low of $106.06 and a twelve month high of $159.55. The company has a market capitalization of $78.51 billion, a price-to-earnings ratio of 16.46, a price-to-earnings-growth ratio of 1.71 and a beta of 0.72. The business has a 50 day simple moving average of $114.76 and a 200-day simple moving average of $125.71.

NetEase Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 18th. Investors of record on Friday, June 5th will be given a dividend of $0.72 per share. The ex-dividend date is Friday, June 5th. This represents a $2.88 dividend on an annualized basis and a yield of 2.3%. NetEase’s payout ratio is currently 38.11%.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the stock. Barclays lowered their price objective on shares of NetEase from $135.00 to $132.00 and set an “equal weight” rating for the company in a research report on Thursday, February 12th. Wall Street Zen upgraded NetEase from a “hold” rating to a “buy” rating in a report on Saturday, May 23rd. Citigroup restated a “buy” rating on shares of NetEase in a report on Wednesday, February 11th. Benchmark restated a “buy” rating on shares of NetEase in a report on Friday, May 22nd. Finally, Nomura dropped their price objective on NetEase from $160.00 to $155.00 and set a “buy” rating on the stock in a report on Friday, February 13th. Seven equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, NetEase has an average rating of “Moderate Buy” and a consensus target price of $157.38.

NetEase Profile

NetEase, Inc (NASDAQ: NTES) is a Chinese technology company headquartered in Hangzhou that develops and operates Internet services and products. Founded in 1997 by William Ding (Ding Lei), the company has grown from an early web portal and e-mail provider into a diversified online services group. William Ding has served as the company’s founder and long-time leader, guiding its expansion into games, digital content and consumer services.

The company’s primary business is interactive entertainment: NetEase Games designs, develops and publishes PC and mobile games for domestic and international audiences, offering a mix of self-developed franchises and titles published under licensing and strategic partnerships.