Ashton Thomas Private Wealth LLC Sells 5,368 Shares of NetEase, Inc. (NASDAQ:NTES)

Ashton Thomas Private Wealth LLC trimmed its position in shares of NetEase, Inc. (NASDAQ:NTES) by 68.0% during the 4th quarter, HoldingsChannel.com reports. The firm owned 2,524 shares of the technology company’s stock after selling 5,368 shares during the quarter. Ashton Thomas Private Wealth LLC’s holdings in NetEase were worth $225,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in NTES. Brooklyn Investment Group bought a new position in NetEase during the 4th quarter valued at about $34,000. UMB Bank n.a. boosted its position in NetEase by 33.3% in the 4th quarter. UMB Bank n.a. now owns 444 shares of the technology company’s stock valued at $40,000 after buying an additional 111 shares during the period. Live Oak Investment Partners purchased a new stake in NetEase in the 4th quarter valued at about $62,000. RPg Family Wealth Advisory LLC purchased a new stake in NetEase in the 3rd quarter valued at about $70,000. Finally, Avior Wealth Management LLC boosted its position in NetEase by 148.9% in the 4th quarter. Avior Wealth Management LLC now owns 993 shares of the technology company’s stock valued at $89,000 after buying an additional 594 shares during the period. 11.07% of the stock is currently owned by institutional investors.

NetEase Stock Performance

Shares of NTES opened at $104.42 on Wednesday. The company has a 50 day moving average price of $99.98 and a 200-day moving average price of $90.81. NetEase, Inc. has a fifty-two week low of $75.85 and a fifty-two week high of $111.12. The stock has a market capitalization of $67.05 billion, a PE ratio of 16.39, a PEG ratio of 3.37 and a beta of 0.61.

NetEase (NASDAQ:NTES) last announced its quarterly earnings results on Thursday, February 20th. The technology company reported $1.87 earnings per share for the quarter, topping the consensus estimate of $1.73 by $0.14. NetEase had a net margin of 28.17% and a return on equity of 22.12%. The firm had revenue of $3.66 billion during the quarter, compared to analysts’ expectations of $27.16 billion. Equities research analysts forecast that NetEase, Inc. will post 6.91 EPS for the current year.

NetEase Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Thursday, March 6th will be given a dividend of $0.435 per share. The ex-dividend date is Thursday, March 6th. This represents a $1.74 dividend on an annualized basis and a yield of 1.67%. NetEase’s payout ratio is 76.45%.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. Morgan Stanley boosted their price objective on shares of NetEase from $108.00 to $117.00 and gave the company an “overweight” rating in a research report on Wednesday, February 12th. Citigroup boosted their price objective on shares of NetEase from $108.00 to $115.00 and gave the company a “buy” rating in a research report on Friday, November 15th. Bank of America boosted their price objective on shares of NetEase from $120.00 to $122.00 and gave the company a “buy” rating in a research report on Wednesday, January 15th. Benchmark boosted their price objective on shares of NetEase from $105.00 to $115.00 and gave the company a “buy” rating in a research report on Friday, February 21st. Finally, Barclays boosted their price objective on shares of NetEase from $82.00 to $104.00 and gave the company an “equal weight” rating in a research report on Monday, February 24th. One research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $114.57.

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.