Ashton Thomas Private Wealth LLC Purchases 409 Shares of NetEase, Inc. (NASDAQ:NTES)

Ashton Thomas Private Wealth LLC increased its holdings in NetEase, Inc. (NASDAQ:NTES) by 5.5% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 7,892 shares of the technology company’s stock after acquiring an additional 409 shares during the quarter. Ashton Thomas Private Wealth LLC’s holdings in NetEase were worth $738,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Massachusetts Financial Services Co. MA boosted its stake in shares of NetEase by 6.5% during the second quarter. Massachusetts Financial Services Co. MA now owns 1,692,705 shares of the technology company’s stock valued at $161,789,000 after purchasing an additional 103,102 shares in the last quarter. Point72 Hong Kong Ltd boosted its position in NetEase by 109.0% during the 2nd quarter. Point72 Hong Kong Ltd now owns 1,213,323 shares of the technology company’s stock valued at $115,969,000 after acquiring an additional 632,896 shares in the last quarter. Capital International Investors boosted its position in NetEase by 1.1% during the 1st quarter. Capital International Investors now owns 1,052,966 shares of the technology company’s stock valued at $108,950,000 after acquiring an additional 11,729 shares in the last quarter. Price T Rowe Associates Inc. MD purchased a new position in shares of NetEase in the 1st quarter valued at $103,658,000. Finally, Lazard Asset Management LLC raised its position in shares of NetEase by 804.5% in the 1st quarter. Lazard Asset Management LLC now owns 792,357 shares of the technology company’s stock worth $81,983,000 after acquiring an additional 704,753 shares in the last quarter. 11.07% of the stock is currently owned by institutional investors.

NetEase Stock Up 10.4 %

NTES stock opened at $84.22 on Friday. NetEase, Inc. has a 52 week low of $75.85 and a 52 week high of $118.89. The stock has a market capitalization of $54.08 billion, a PE ratio of 13.44, a price-to-earnings-growth ratio of 1.74 and a beta of 0.57. The firm has a 50 day moving average of $83.47 and a 200 day moving average of $89.12.

NetEase (NASDAQ:NTES) last announced its quarterly earnings data on Thursday, August 22nd. The technology company reported $12.05 earnings per share for the quarter, beating analysts’ consensus estimates of $1.62 by $10.43. NetEase had a net margin of 26.98% and a return on equity of 22.30%. The firm had revenue of $25.49 billion for the quarter, compared to analyst estimates of $26.01 billion. During the same period in the previous year, the company earned $1.75 earnings per share. The business’s quarterly revenue was up 6.1% compared to the same quarter last year. On average, equities research analysts expect that NetEase, Inc. will post 6.02 earnings per share for the current year.

NetEase Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 20th. Investors of record on Friday, September 6th were issued a dividend of $0.435 per share. This represents a $1.74 dividend on an annualized basis and a dividend yield of 2.07%. The ex-dividend date of this dividend was Friday, September 6th. NetEase’s dividend payout ratio (DPR) is 28.22%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the company. Bank of America dropped their price objective on NetEase from $142.00 to $120.00 and set a “buy” rating on the stock in a research report on Friday, August 23rd. Barclays cut their price objective on shares of NetEase from $104.00 to $82.00 and set an “equal weight” rating on the stock in a research report on Monday, August 26th. Jefferies Financial Group decreased their target price on shares of NetEase from $126.00 to $103.00 and set a “buy” rating for the company in a research report on Thursday, August 22nd. Finally, StockNews.com lowered shares of NetEase from a “strong-buy” rating to a “buy” rating in a report on Saturday, July 20th. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average 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.