NetEase, Inc. (NASDAQ:NTES) Stock Position Decreased by Harbor Investment Advisory LLC

Harbor Investment Advisory LLC lessened its holdings in shares of NetEase, Inc. (NASDAQ:NTES) by 5.2% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 10,244 shares of the technology company’s stock after selling 565 shares during the period. Harbor Investment Advisory LLC’s holdings in NetEase were worth $1,060,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the business. Wellington Management Group LLP grew its position in shares of NetEase by 226.4% during the 4th quarter. Wellington Management Group LLP now owns 1,896,495 shares of the technology company’s stock valued at $176,677,000 after buying an additional 1,315,410 shares during the last quarter. Tairen Capital Ltd acquired a new position in NetEase during the 4th quarter valued at about $164,307,000. WT Asset Management Ltd boosted its stake in NetEase by 381.1% during the 4th quarter. WT Asset Management Ltd now owns 996,686 shares of the technology company’s stock valued at $92,851,000 after purchasing an additional 789,499 shares during the period. Aspex Management HK Ltd acquired a new position in NetEase during the 4th quarter valued at about $59,354,000. Finally, Coatue Management LLC acquired a new position in NetEase during the 4th quarter valued at about $52,532,000. Institutional investors own 11.07% of the company’s stock.

NetEase Price Performance

NTES stock opened at $91.17 on Tuesday. NetEase, Inc. has a 52-week low of $81.30 and a 52-week high of $118.89. The company’s 50 day simple moving average is $94.62 and its 200-day simple moving average is $98.64. The firm has a market capitalization of $58.55 billion, a P/E ratio of 14.13, a P/E/G ratio of 1.74 and a beta of 0.52.

NetEase (NASDAQ:NTES) last released its quarterly earnings data on Thursday, May 23rd. The technology company reported $1.63 earnings per share for the quarter, missing the consensus estimate of $1.68 by ($0.05). The company had revenue of $3.72 billion during the quarter, compared to analyst estimates of $3.61 billion. NetEase had a net margin of 28.75% and a return on equity of 24.19%. Sell-side analysts predict that NetEase, Inc. will post 6.86 EPS for the current fiscal year.

NetEase Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 21st. Stockholders of record on Thursday, June 6th were paid 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 2.17%. NetEase’s dividend payout ratio (DPR) is 30.54%.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on NTES shares. Benchmark boosted their target price on shares of NetEase from $144.00 to $145.00 and gave the company a “buy” rating in a research note on Friday, May 24th. StockNews.com raised shares of NetEase from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, June 19th. HSBC reduced their price target on shares of NetEase from $130.00 to $126.00 and set a “buy” rating for the company in a research note on Wednesday, April 24th. Morgan Stanley reaffirmed an “equal weight” rating and issued a $100.00 price target (down from $120.00) on shares of NetEase in a research note on Thursday, May 23rd. Finally, Barclays began coverage on shares of NetEase in a research note on Thursday, June 13th. They issued an “equal weight” rating and a $104.00 price target for the company. Two research analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, NetEase has a consensus rating of “Moderate Buy” and an average target price of $123.00.

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.