Creative Planning Sells 704 Shares of NetEase, Inc. (NASDAQ:NTES)

Creative Planning trimmed its stake in NetEase, Inc. (NASDAQ:NTES) by 4.2% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,942 shares of the technology company’s stock after selling 704 shares during the period. Creative Planning’s holdings in NetEase were worth $1,491,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the stock. Sequoia Financial Advisors LLC increased its position in NetEase by 4.3% in the second quarter. Sequoia Financial Advisors LLC now owns 2,575 shares of the technology company’s stock worth $246,000 after buying an additional 107 shares in the last quarter. Guinness Atkinson Asset Management Inc increased its holdings in NetEase by 0.7% in the 2nd quarter. Guinness Atkinson Asset Management Inc now owns 15,422 shares of the technology company’s stock worth $1,474,000 after acquiring an additional 110 shares in the last quarter. SYSTM Wealth Solutions LLC increased its holdings in NetEase by 55.5% in the 2nd quarter. SYSTM Wealth Solutions LLC now owns 328 shares of the technology company’s stock worth $31,000 after acquiring an additional 117 shares in the last quarter. Fifth Third Bancorp raised its stake in NetEase by 1.9% during the 2nd quarter. Fifth Third Bancorp now owns 7,658 shares of the technology company’s stock worth $732,000 after acquiring an additional 146 shares during the period. Finally, Brandes Investment Partners LP lifted its holdings in NetEase by 1.2% during the second quarter. Brandes Investment Partners LP now owns 20,880 shares of the technology company’s stock valued at $2,000,000 after purchasing an additional 248 shares in the last quarter. 11.07% of the stock is owned by institutional investors.

NetEase Trading Up 1.5 %

Shares of NetEase stock opened at $82.32 on Wednesday. The firm has a market cap of $52.86 billion, a PE ratio of 13.43, a PEG ratio of 1.76 and a beta of 0.55. The stock has a 50 day moving average of $84.12 and a 200 day moving average of $90.18. NetEase, Inc. has a 12 month low of $75.85 and a 12 month high of $118.89.

NetEase (NASDAQ:NTES) last posted its 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 firm had revenue of $25.49 billion during the quarter, compared to the consensus estimate of $26.01 billion. During the same period in the prior year, the company earned $1.75 EPS. The company’s quarterly revenue was up 6.1% compared to the same quarter last year. As a group, equities research analysts forecast that NetEase, Inc. will post 6.05 earnings per share for the current fiscal year.

NetEase Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 20th. Stockholders of record on Friday, September 6th were issued a $0.435 dividend. The ex-dividend date was Friday, September 6th. This represents a $1.74 dividend on an annualized basis and a dividend yield of 2.11%. NetEase’s dividend payout ratio (DPR) is presently 28.22%.

Wall Street Analyst Weigh In

Several brokerages have recently commented on NTES. StockNews.com downgraded shares of NetEase from a “strong-buy” rating to a “buy” rating in a research report on Saturday, July 20th. Barclays lowered 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. Morgan Stanley reiterated an “equal weight” rating and set a $100.00 target price on shares of NetEase in a research report on Friday, July 5th. Jefferies Financial Group lowered their price target on NetEase from $126.00 to $103.00 and set a “buy” rating on the stock in a report on Thursday, August 22nd. Finally, Bank of America cut their price objective on shares of NetEase from $142.00 to $120.00 and set a “buy” rating for the company in a report on Friday, August 23rd. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average 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.