NetEase, Inc. (NASDAQ:NTES) Shares Sold by Harbor Investment Advisory LLC

Harbor Investment Advisory LLC reduced its stake in shares of NetEase, Inc. (NASDAQ:NTES) by 2.0% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,793 shares of the technology company’s stock after selling 197 shares during the period. Harbor Investment Advisory LLC’s holdings in NetEase were worth $916,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the stock. Sanctuary Advisors LLC purchased a new position in shares of NetEase during the 2nd quarter worth about $1,204,000. Coronation Fund Managers Ltd. purchased a new position in shares of NetEase during the 2nd quarter worth about $10,015,000. Ariadne Wealth Management LP purchased a new position in shares of NetEase during the 2nd quarter worth about $35,000. Aurora Investment Counsel lifted its holdings in shares of NetEase by 2.5% during the 2nd quarter. Aurora Investment Counsel now owns 25,393 shares of the technology company’s stock worth $2,427,000 after acquiring an additional 627 shares during the period. Finally, Cetera Investment Advisers lifted its holdings in shares of NetEase by 56.8% during the 2nd quarter. Cetera Investment Advisers now owns 17,123 shares of the technology company’s stock worth $1,637,000 after acquiring an additional 6,203 shares during the period. 11.07% of the stock is currently owned by hedge funds and other institutional investors.

NetEase Stock Up 0.9 %

Shares of NASDAQ:NTES opened at $102.33 on Friday. NetEase, Inc. has a 52-week low of $75.85 and a 52-week high of $118.89. The company has a 50 day moving average of $85.98 and a two-hundred day moving average of $92.17. The company has a market capitalization of $65.71 billion, a price-to-earnings ratio of 15.87, a price-to-earnings-growth ratio of 1.78 and a beta of 0.55.

NetEase (NASDAQ:NTES) last issued its quarterly earnings data on Thursday, August 22nd. The technology company reported $12.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.62 by $10.43. NetEase had a net margin of 26.98% and a return on equity of 22.30%. The company had revenue of $25.49 billion during the quarter, compared to the consensus estimate of $26.01 billion. During the same quarter last year, the company earned $1.75 earnings per share. NetEase’s revenue for the quarter was up 6.1% on a year-over-year basis. On average, equities analysts anticipate that NetEase, Inc. will post 6.05 earnings per share for the current year.

NetEase Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 20th. Shareholders of record on Friday, September 6th were given a $0.435 dividend. This represents a $1.74 annualized dividend and a yield of 1.70%. The ex-dividend date was Friday, September 6th. NetEase’s dividend payout ratio (DPR) is 26.82%.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the stock. Bank of America dropped their target price on shares of NetEase from $142.00 to $120.00 and set a “buy” rating for the company in a research report on Friday, August 23rd. StockNews.com downgraded shares of NetEase from a “strong-buy” rating to a “buy” rating in a research report on Saturday, July 20th. Morgan Stanley reissued an “equal weight” rating and set a $100.00 target price on shares of NetEase in a research report on Friday, July 5th. Barclays dropped their target price on shares of NetEase from $104.00 to $82.00 and set an “equal weight” rating for the company in a research report on Monday, August 26th. Finally, Jefferies Financial Group dropped their target price on shares of NetEase from $126.00 to $103.00 and set a “buy” rating for the company in a research report on Thursday, August 22nd. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, NetEase currently has a consensus rating of “Moderate Buy” and a consensus target price of $112.67.

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.