Bleakley Financial Group LLC Decreases Stock Position in NetEase, Inc. (NASDAQ:NTES)

Bleakley Financial Group LLC lessened its stake in shares of NetEase, Inc. (NASDAQ:NTES) by 4.4% during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 4,146 shares of the technology company’s stock after selling 191 shares during the period. Bleakley Financial Group LLC’s holdings in NetEase were worth $388,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Mather Group LLC. increased its stake in NetEase by 1,415.0% in the second quarter. Mather Group LLC. now owns 303 shares of the technology company’s stock worth $31,000 after purchasing an additional 283 shares during the period. SYSTM Wealth Solutions LLC grew its position in shares of NetEase by 55.5% during the 2nd quarter. SYSTM Wealth Solutions LLC now owns 328 shares of the technology company’s stock worth $31,000 after buying an additional 117 shares in the last quarter. Ariadne Wealth Management LP bought a new position in shares of NetEase during the 2nd quarter worth $35,000. ORG Partners LLC bought a new position in shares of NetEase during the 1st quarter worth $50,000. Finally, AdvisorNet Financial Inc grew its position in shares of NetEase by 39.6% during the 2nd quarter. AdvisorNet Financial Inc now owns 1,400 shares of the technology company’s stock worth $134,000 after buying an additional 397 shares in the last quarter. Hedge funds and other institutional investors own 11.07% of the company’s stock.

NetEase Price Performance

Shares of NTES stock opened at $81.04 on Wednesday. NetEase, Inc. has a 1-year low of $75.85 and a 1-year high of $118.89. The stock’s 50-day moving average is $85.09 and its 200 day moving average is $90.77. The company has a market cap of $52.04 billion, a P/E ratio of 12.56, a PEG ratio of 1.96 and a beta of 0.55.

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

NetEase Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 20th. Investors of record on Friday, September 6th were paid a $0.435 dividend. This represents a $1.74 dividend on an annualized basis and a yield of 2.15%. The ex-dividend date was Friday, September 6th. NetEase’s dividend payout ratio (DPR) is presently 26.82%.

Wall Street Analyst Weigh In

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

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.