Ashton Thomas Private Wealth LLC Trims Stock Holdings in NetEase, Inc. (NASDAQ:NTES)

Ashton Thomas Private Wealth LLC decreased its holdings in NetEase, Inc. (NASDAQ:NTES) by 45.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,930 shares of the technology company’s stock after selling 6,511 shares during the period. Ashton Thomas Private Wealth LLC’s holdings in NetEase were worth $821,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of the business. Naviter Wealth LLC purchased a new position in shares of NetEase in the first quarter worth about $556,000. Wealth Enhancement Advisory Services LLC increased its stake in shares of NetEase by 4.7% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 9,501 shares of the technology company’s stock worth $983,000 after purchasing an additional 430 shares in the last quarter. Guinness Asset Management LTD grew its stake in NetEase by 8.3% during the first quarter. Guinness Asset Management LTD now owns 80,371 shares of the technology company’s stock valued at $8,316,000 after acquiring an additional 6,190 shares in the last quarter. Park Avenue Securities LLC grew its stake in NetEase by 7.3% during the first quarter. Park Avenue Securities LLC now owns 5,695 shares of the technology company’s stock valued at $589,000 after acquiring an additional 387 shares in the last quarter. Finally, Ridgewood Investments LLC purchased a new position in NetEase during the first quarter valued at approximately $457,000. Hedge funds and other institutional investors own 11.07% of the company’s stock.

NetEase Price Performance

NetEase stock traded down $3.38 during trading hours on Friday, reaching $92.54. The stock had a trading volume of 372,922 shares, compared to its average volume of 1,712,966. The company has a market cap of $59.43 billion, a price-to-earnings ratio of 14.87, a PEG ratio of 1.91 and a beta of 0.53. The business’s 50 day moving average price is $95.04 and its 200-day moving average price is $98.19. NetEase, Inc. has a 52 week low of $81.30 and a 52 week high of $118.89.

NetEase (NASDAQ:NTES) last posted its quarterly earnings data on Thursday, May 23rd. The technology company reported $1.63 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.68 by ($0.05). NetEase had a net margin of 28.75% and a return on equity of 24.19%. The company had revenue of $3.72 billion for the quarter, compared to analyst estimates of $3.61 billion. On average, sell-side analysts forecast that NetEase, Inc. will post 6.68 EPS for the current fiscal year.

NetEase Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 21st. Shareholders of record on Thursday, June 6th were given a $0.495 dividend. The ex-dividend date of this dividend was Thursday, June 6th. This represents a $1.98 annualized dividend and a yield of 2.14%. NetEase’s dividend payout ratio is presently 30.54%.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on NTES. Benchmark increased their price target on shares of NetEase from $144.00 to $145.00 and gave the stock a “buy” rating in a report on Friday, May 24th. Morgan Stanley reissued an “equal weight” rating and set a $100.00 price target on shares of NetEase in a research report on Friday. StockNews.com lowered shares of NetEase from a “strong-buy” rating to a “buy” rating in a report on Thursday, June 27th. Barclays assumed 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. Finally, HSBC dropped their price target on shares of NetEase from $130.00 to $126.00 and set a “buy” rating on the stock in a report on Wednesday, April 24th. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, NetEase has an average rating of “Moderate Buy” and a consensus target price of $123.00.

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.