Allspring Global Investments Holdings LLC Takes Position in NetEase, Inc. (NASDAQ:NTES)

Allspring Global Investments Holdings LLC bought a new position in NetEase, Inc. (NASDAQ:NTES) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 813 shares of the technology company’s stock, valued at approximately $76,000.

Other large investors also recently modified their holdings of the company. Mather Group LLC. grew its stake in shares of NetEase by 1,415.0% in the second quarter. Mather Group LLC. now owns 303 shares of the technology company’s stock worth $31,000 after purchasing an additional 283 shares during the last quarter. SYSTM Wealth Solutions LLC lifted its holdings in shares of NetEase by 55.5% during the second quarter. SYSTM Wealth Solutions LLC now owns 328 shares of the technology company’s stock valued at $31,000 after purchasing an additional 117 shares during the last quarter. Ariadne Wealth Management LP purchased a new position in shares of NetEase during the second quarter valued at approximately $35,000. ORG Partners LLC purchased a new position in shares of NetEase during the first quarter valued at approximately $50,000. Finally, AdvisorNet Financial Inc raised its holdings in NetEase by 39.6% in the 2nd quarter. AdvisorNet Financial Inc now owns 1,400 shares of the technology company’s stock worth $134,000 after acquiring an additional 397 shares during the last quarter. 11.07% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on NTES shares. Jefferies Financial Group decreased their price objective on shares of NetEase from $126.00 to $103.00 and set a “buy” rating for the company in a report on Thursday, August 22nd. StockNews.com downgraded shares of NetEase from a “strong-buy” rating to a “buy” rating in a research report on Saturday, July 20th. Barclays cut their price objective on shares of NetEase from $104.00 to $82.00 and set an “equal weight” rating for the company in a research report on Monday, August 26th. Finally, Bank of America cut their price objective on shares of NetEase from $142.00 to $120.00 and set a “buy” rating for the company in a research report on Friday, August 23rd. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $112.67.

NetEase Trading Down 0.1 %

Shares of NTES opened at $79.04 on Tuesday. The company has a market capitalization of $50.76 billion, a PE ratio of 12.89, a price-to-earnings-growth ratio of 1.78 and a beta of 0.57. The business’s 50 day moving average is $83.72 and its 200 day moving average is $89.86. NetEase, Inc. has a 12-month low of $75.85 and a 12-month high of $118.89.

NetEase (NASDAQ:NTES) last released its quarterly earnings results on Thursday, August 22nd. The technology company reported $12.05 earnings per share for the quarter, beating the consensus estimate of $1.62 by $10.43. The business had revenue of $25.49 billion during the quarter, compared to analysts’ expectations of $26.01 billion. NetEase had a return on equity of 22.30% and a net margin of 26.98%. The firm’s revenue for the quarter was up 6.1% compared to the same quarter last year. During the same quarter last year, the business posted $1.75 EPS. Equities research analysts predict that NetEase, Inc. will post 6.02 earnings per share for the current year.

NetEase Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 20th. Stockholders of record on Friday, September 6th were issued a $0.435 dividend. This represents a $1.74 dividend on an annualized basis and a dividend yield of 2.20%. The ex-dividend date of this dividend was Friday, September 6th. NetEase’s dividend payout ratio (DPR) is 28.22%.

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.