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

Ashton Thomas Private Wealth LLC raised its holdings in NetEase, Inc. (NASDAQ:NTES) by 5.5% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 7,892 shares of the technology company’s stock after purchasing an additional 409 shares during the quarter. Ashton Thomas Private Wealth LLC’s holdings in NetEase were worth $738,000 at the end of the most recent reporting period.

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

NetEase Price Performance

NASDAQ NTES opened at $84.22 on Friday. The stock’s 50 day simple moving average is $83.47 and its 200-day simple moving average is $89.12. The company has a market cap 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. NetEase, Inc. has a 1-year low of $75.85 and a 1-year high of $118.89.

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 return on equity of 22.30% and a net margin of 26.98%. The company had revenue of $25.49 billion for the quarter, compared to analyst estimates of $26.01 billion. During the same quarter last year, the firm posted $1.75 EPS. The firm’s revenue for the quarter was up 6.1% on a year-over-year basis. On average, equities research analysts anticipate that NetEase, Inc. will post 6.02 EPS for the current fiscal year.

NetEase Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 20th. Investors of record on Friday, September 6th were paid a dividend of $0.435 per share. The ex-dividend date was Friday, September 6th. This represents a $1.74 annualized dividend and a yield of 2.07%. NetEase’s dividend payout ratio is presently 28.22%.

Wall Street Analyst Weigh In

NTES has been the topic of a number of analyst reports. Barclays dropped their target price 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. 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 report on Friday, August 23rd. StockNews.com downgraded NetEase from a “strong-buy” rating to a “buy” rating in a research note on Saturday, July 20th. Finally, Jefferies Financial Group decreased their target price on NetEase from $126.00 to $103.00 and set a “buy” rating on the stock in a research report on Thursday, August 22nd. Two 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 stock currently has an average rating of “Moderate Buy” and an average price target of $112.67.

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.