AdvisorNet Financial Inc Buys 397 Shares of NetEase, Inc. (NASDAQ:NTES)

AdvisorNet Financial Inc increased its position in NetEase, Inc. (NASDAQ:NTES) by 39.6% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 1,400 shares of the technology company’s stock after buying an additional 397 shares during the period. AdvisorNet Financial Inc’s holdings in NetEase were worth $134,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in NTES. Mather Group LLC. grew its position in shares of NetEase by 1,415.0% during the second quarter. Mather Group LLC. now owns 303 shares of the technology company’s stock valued at $31,000 after purchasing an additional 283 shares in the last quarter. USA Financial Formulas grew its holdings in NetEase by 1,153.1% during the 4th quarter. USA Financial Formulas now owns 401 shares of the technology company’s stock valued at $37,000 after buying an additional 369 shares in the last quarter. UMB Bank n.a. purchased a new stake in shares of NetEase during the 1st quarter worth approximately $50,000. ORG Partners LLC bought a new position in shares of NetEase during the 1st quarter valued at approximately $50,000. Finally, Lindbrook Capital LLC grew its holdings in shares of NetEase by 14.0% in the fourth quarter. Lindbrook Capital LLC now owns 1,043 shares of the technology company’s stock valued at $97,000 after purchasing an additional 128 shares in the last quarter. Hedge funds and other institutional investors own 11.07% of the company’s stock.

NetEase Trading Up 2.8 %

Shares of NASDAQ NTES traded up $2.42 during trading hours on Thursday, reaching $90.12. The stock had a trading volume of 1,134,790 shares, compared to its average volume of 1,690,352. The business’s fifty day moving average price is $92.24 and its two-hundred day moving average price is $97.73. The firm has a market cap of $57.87 billion, a price-to-earnings ratio of 13.60, a P/E/G ratio of 1.81 and a beta of 0.53. 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 results on Thursday, May 23rd. The technology company reported $1.63 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 business had revenue of $3.72 billion during the quarter, compared to the consensus estimate of $3.61 billion. Equities research analysts anticipate that NetEase, Inc. will post 6.7 earnings per share for the current fiscal year.

NetEase Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 21st. Shareholders of record on Thursday, June 6th were given a dividend of $0.495 per share. The ex-dividend date was Thursday, June 6th. This represents a $1.98 annualized dividend and a yield of 2.20%. NetEase’s dividend payout ratio (DPR) is presently 30.54%.

Analyst Upgrades and Downgrades

Several research firms have commented on NTES. StockNews.com lowered shares of NetEase from a “strong-buy” rating to a “buy” rating in a research report on Saturday, July 20th. Barclays started coverage on NetEase in a report on Thursday, June 13th. They issued an “equal weight” rating and a $104.00 target price for the company. Benchmark increased their price target on NetEase from $144.00 to $145.00 and gave the company a “buy” rating in a report on Friday, May 24th. Morgan Stanley reaffirmed an “equal weight” rating and set a $100.00 price objective on shares of NetEase in a research note on Friday, July 5th. Finally, HSBC reduced their target price on shares of NetEase from $130.00 to $126.00 and set a “buy” rating on the stock in a research note on Wednesday, April 24th. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, NetEase currently has a consensus rating of “Moderate Buy” and an average target price of $123.86.

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.