Asset Dedication LLC Sells 263 Shares of NetEase, Inc. (NASDAQ:NTES)

Asset Dedication LLC decreased its holdings in shares of NetEase, Inc. (NASDAQ:NTES) by 12.8% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,786 shares of the technology company’s stock after selling 263 shares during the quarter. Asset Dedication LLC’s holdings in NetEase were worth $167,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Mather Group LLC. grew its holdings in shares of NetEase by 1,415.0% in the 2nd quarter. Mather Group LLC. now owns 303 shares of the technology company’s stock valued at $31,000 after acquiring an additional 283 shares in the last quarter. SYSTM Wealth Solutions LLC increased its position in shares of NetEase by 55.5% during the 2nd quarter. SYSTM Wealth Solutions LLC now owns 328 shares of the technology company’s stock worth $31,000 after purchasing an additional 117 shares during the last quarter. Ariadne Wealth Management LP bought a new stake in shares of NetEase during the 2nd quarter worth approximately $35,000. ORG Partners LLC acquired a new stake in shares of NetEase in the 1st quarter valued at approximately $50,000. Finally, AdvisorNet Financial Inc grew its stake in shares of NetEase by 39.6% in the second quarter. AdvisorNet Financial Inc now owns 1,400 shares of the technology company’s stock valued at $134,000 after buying an additional 397 shares in the last quarter. 11.07% of the stock is currently owned by institutional investors and hedge funds.

NetEase Trading Down 2.6 %

NetEase stock opened at $79.73 on Friday. The company has a market capitalization of $51.20 billion, a price-to-earnings ratio of 12.36, a PEG ratio of 1.96 and a beta of 0.55. The stock’s 50 day moving average is $85.58 and its 200-day moving average is $91.18. NetEase, Inc. has a 12 month low of $75.85 and a 12 month high of $118.89.

NetEase (NASDAQ:NTES) last issued its quarterly earnings data on Thursday, August 22nd. The technology company reported $12.05 EPS 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 firm had revenue of $25.49 billion for the quarter, compared to analyst estimates of $26.01 billion. During the same period in the prior year, the firm posted $1.75 EPS. The company’s revenue for the quarter was up 6.1% on a year-over-year basis. As a group, equities research analysts predict that NetEase, Inc. will post 6.05 earnings per share for the current fiscal year.

NetEase Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 20th. Shareholders of record on Friday, September 6th were issued a $0.435 dividend. This represents a $1.74 dividend on an annualized basis and a yield of 2.18%. The ex-dividend date of this dividend was Friday, September 6th. NetEase’s dividend payout ratio is currently 26.82%.

Analyst Ratings Changes

NTES has been the subject of a number of recent analyst reports. Morgan Stanley reiterated an “equal weight” rating and issued a $100.00 price target on shares of NetEase in a research note on Friday, July 5th. Barclays lowered their price target 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. StockNews.com cut NetEase from a “strong-buy” rating to a “buy” rating in a research report on Saturday, July 20th. Bank of America decreased their target price on NetEase from $142.00 to $120.00 and set a “buy” rating on the stock in a report on Friday, August 23rd. Finally, Jefferies Financial Group cut their price target on NetEase from $126.00 to $103.00 and set a “buy” rating for the company in a report on Thursday, August 22nd. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus 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.