Financial Advocates Investment Management Takes Position in NetEase, Inc. (NASDAQ:NTES)

Financial Advocates Investment Management bought a new position in shares of NetEase, Inc. (NASDAQ:NTES) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 4,410 shares of the technology company’s stock, valued at approximately $421,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Sequoia Financial Advisors LLC increased its stake in NetEase by 4.3% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 2,575 shares of the technology company’s stock worth $246,000 after acquiring an additional 107 shares during the last quarter. Guinness Atkinson Asset Management Inc increased its position in NetEase by 0.7% during 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 during the last quarter. Mendota Financial Group LLC lifted its holdings in shares of NetEase by 9.2% in the 1st quarter. Mendota Financial Group LLC now owns 1,508 shares of the technology company’s stock worth $156,000 after acquiring an additional 127 shares during the last quarter. Fifth Third Bancorp grew its holdings in NetEase by 1.9% during the 2nd quarter. Fifth Third Bancorp now owns 7,658 shares of the technology company’s stock valued at $732,000 after purchasing an additional 146 shares during the last quarter. Finally, Vestmark Advisory Solutions Inc. lifted its stake in NetEase by 7.4% in the fourth quarter. Vestmark Advisory Solutions Inc. now owns 2,755 shares of the technology company’s stock worth $257,000 after purchasing an additional 189 shares during the last quarter. Institutional investors own 11.07% of the company’s stock.

Analyst Ratings Changes

A number of analysts have weighed in on NTES shares. Morgan Stanley reiterated an “equal weight” rating and issued a $100.00 target price on shares of NetEase in a research note on Friday, July 5th. Bank of America lowered their price objective 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. Jefferies Financial Group reduced their target price on shares of NetEase from $126.00 to $103.00 and set a “buy” rating on the stock in a research report on Thursday, August 22nd. StockNews.com lowered NetEase from a “strong-buy” rating to a “buy” rating in a report on Saturday, July 20th. Finally, Barclays dropped their price target on NetEase from $104.00 to $82.00 and set an “equal weight” rating on the stock in a research report on Monday. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, NetEase currently has a consensus rating of “Moderate Buy” and a consensus target price of $114.43.

NetEase Stock Performance

NTES stock traded up $0.59 during midday trading on Thursday, reaching $80.96. The stock had a trading volume of 660,928 shares, compared to its average volume of 1,726,198. The firm has a fifty day simple moving average of $91.25 and a two-hundred day simple moving average of $96.77. NetEase, Inc. has a 52-week low of $80.30 and a 52-week high of $118.89. The stock has a market cap of $51.99 billion, a PE ratio of 12.46, a P/E/G ratio of 1.81 and a beta of 0.53.

NetEase (NASDAQ:NTES) last issued 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. The firm had revenue of $25.49 billion for the quarter, compared to analyst estimates of $26.01 billion. NetEase had a return on equity of 24.19% and a net margin of 28.75%. NetEase’s revenue for the quarter was up 6.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.75 earnings per share. On average, sell-side analysts predict that NetEase, Inc. will post 6.7 EPS for the current fiscal year.

NetEase Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 20th. Stockholders of record on Friday, September 6th will be paid a dividend of $0.435 per share. The ex-dividend date is Friday, September 6th. This represents a $1.74 dividend on an annualized basis and a dividend yield of 2.15%. NetEase’s payout ratio is 26.82%.

NetEase 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.