Private Advisor Group LLC Decreases Stock Position in NetEase, Inc. (NASDAQ:NTES)

Private Advisor Group LLC cut its position in NetEase, Inc. (NASDAQ:NTES) by 19.9% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,101 shares of the technology company’s stock after selling 770 shares during the quarter. Private Advisor Group LLC’s holdings in NetEase were worth $290,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in NTES. Sequoia Financial Advisors LLC raised its holdings in NetEase by 4.3% in the second quarter. Sequoia Financial Advisors LLC now owns 2,575 shares of the technology company’s stock valued at $246,000 after acquiring an additional 107 shares in the last quarter. Guinness Atkinson Asset Management Inc raised its holdings in NetEase by 0.7% in the second quarter. Guinness Atkinson Asset Management Inc now owns 15,422 shares of the technology company’s stock valued at $1,474,000 after acquiring an additional 110 shares in the last quarter. SYSTM Wealth Solutions LLC raised its holdings in NetEase by 55.5% in the second quarter. SYSTM Wealth Solutions LLC now owns 328 shares of the technology company’s stock valued at $31,000 after acquiring an additional 117 shares in the last quarter. Fifth Third Bancorp raised its holdings in NetEase by 1.9% in the second quarter. Fifth Third Bancorp now owns 7,658 shares of the technology company’s stock valued at $732,000 after acquiring an additional 146 shares in the last quarter. Finally, Brandes Investment Partners LP raised its holdings in NetEase by 1.2% in the second quarter. Brandes Investment Partners LP now owns 20,880 shares of the technology company’s stock valued at $2,000,000 after acquiring an additional 248 shares in the last quarter. 11.07% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

NTES has been the topic of several recent analyst reports. Bank of America cut their price target on shares of NetEase from $142.00 to $120.00 and set a “buy” rating on the stock in a report on Friday, August 23rd. Jefferies Financial Group dropped their target price on shares of NetEase from $126.00 to $103.00 and set a “buy” rating on the stock in a report on Thursday, August 22nd. Barclays dropped their target price on shares of NetEase from $104.00 to $82.00 and set an “equal weight” rating on the stock in a report on Monday, August 26th. Finally, StockNews.com cut shares of NetEase from a “strong-buy” rating to a “buy” rating in a report on Saturday, July 20th. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $112.67.

NetEase Stock Down 0.2 %

Shares of NASDAQ:NTES opened at $80.00 on Thursday. The company has a market cap of $51.37 billion, a PE ratio of 13.05, a P/E/G ratio of 1.75 and a beta of 0.57. The company’s 50-day moving average price is $83.65 and its 200 day moving average price is $89.70. NetEase, Inc. has a fifty-two week low of $75.85 and a fifty-two week high of $118.89.

NetEase (NASDAQ:NTES) last issued its quarterly earnings data on Thursday, August 22nd. The technology company reported $12.05 earnings per share for the quarter, beating the consensus estimate of $1.62 by $10.43. The firm had revenue of $25.49 billion for the quarter, compared to the consensus estimate of $26.01 billion. NetEase had a net margin of 26.98% and a return on equity of 22.30%. NetEase’s quarterly revenue was up 6.1% compared to the same quarter last year. During the same period last year, the firm posted $1.75 EPS. As a group, equities analysts anticipate that NetEase, Inc. will post 6.02 EPS for the current year.

NetEase Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 20th. Investors of record on Friday, September 6th were given a $0.435 dividend. The ex-dividend date of this dividend was Friday, September 6th. This represents a $1.74 annualized dividend and a yield of 2.18%. NetEase’s dividend payout ratio is presently 28.22%.

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.