Marshall Financial Group LLC Takes Position in NetEase, Inc. (NASDAQ:NTES)

Marshall Financial Group LLC acquired a new position in NetEase, Inc. (NASDAQ:NTES) in the 2nd quarter, HoldingsChannel.com reports. The fund acquired 17,868 shares of the technology company’s stock, valued at approximately $1,708,000.

Other hedge funds have also bought and sold shares of the company. Raymond James & Associates boosted its holdings in shares of NetEase by 20.5% in the second quarter. Raymond James & Associates now owns 25,823 shares of the technology company’s stock worth $2,468,000 after acquiring an additional 4,395 shares during the period. Blue Trust Inc. boosted its stake in NetEase by 28.4% in the 2nd quarter. Blue Trust Inc. now owns 3,118 shares of the technology company’s stock worth $323,000 after purchasing an additional 690 shares during the period. Outlook Wealth Advisors LLC purchased a new position in NetEase during the 2nd quarter valued at about $360,000. Coronation Fund Managers Ltd. bought a new stake in shares of NetEase during the second quarter valued at about $19,541,000. Finally, Assenagon Asset Management S.A. increased its position in shares of NetEase by 65.8% during the second quarter. Assenagon Asset Management S.A. now owns 772,242 shares of the technology company’s stock valued at $73,811,000 after buying an additional 306,500 shares during the period. 11.07% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. Benchmark boosted their price objective on shares of NetEase from $144.00 to $145.00 and gave the company a “buy” rating in a research note on Friday, May 24th. Barclays began coverage on shares of NetEase in a research report on Thursday, June 13th. They set an “equal weight” rating and a $104.00 price target for the company. Morgan Stanley reiterated an “equal weight” rating and issued a $100.00 price objective on shares of NetEase in a research report on Friday, July 5th. HSBC reduced their target price on NetEase from $130.00 to $126.00 and set a “buy” rating for the company in a research report on Wednesday, April 24th. Finally, StockNews.com cut 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 six have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $123.86.

NetEase Stock Performance

NTES traded down $0.16 during trading on Friday, reaching $89.91. The stock had a trading volume of 1,802,598 shares, compared to its average volume of 1,692,614. The business has a 50-day moving average of $92.09 and a 200-day moving average of $97.61. NetEase, Inc. has a one year low of $81.30 and a one year high of $118.89. The stock has a market cap of $57.74 billion, a PE ratio of 13.94, a PEG ratio of 1.81 and a beta of 0.53.

NetEase (NASDAQ:NTES) last announced its quarterly earnings data on Thursday, May 23rd. The technology company reported $1.63 EPS for the quarter, missing the consensus estimate of $1.68 by ($0.05). The firm had revenue of $3.72 billion for the quarter, compared to the consensus estimate of $3.61 billion. NetEase had a net margin of 28.75% and a return on equity of 24.19%. Equities research analysts forecast that NetEase, Inc. will post 6.7 EPS for the current fiscal year.

NetEase Cuts Dividend

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

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.