Creative Planning Lowers Stake in NetEase, Inc. (NASDAQ:NTES)

Creative Planning cut its stake in NetEase, Inc. (NASDAQ:NTES) by 4.2% during the third quarter, HoldingsChannel reports. The firm owned 15,942 shares of the technology company’s stock after selling 704 shares during the period. Creative Planning’s holdings in NetEase were worth $1,491,000 at the end of the most recent quarter.

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

Analyst Ratings Changes

Several brokerages have recently weighed in on NTES. Barclays lowered their price target 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. Morgan Stanley restated an “equal weight” rating and set a $100.00 price objective on shares of NetEase in a research note on Friday, July 5th. Jefferies Financial Group reduced their target price 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. Bank of America lowered their price target on shares of NetEase from $142.00 to $120.00 and set a “buy” rating on the stock in a report on Friday, August 23rd. Finally, StockNews.com lowered shares of NetEase from a “strong-buy” rating to a “buy” rating in a research note on Saturday, July 20th. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $112.67.

NetEase Price Performance

NASDAQ NTES opened at $82.32 on Wednesday. The company has a market cap of $52.86 billion, a price-to-earnings ratio of 13.43, a PEG ratio of 1.76 and a beta of 0.55. The stock’s fifty day moving average price is $84.12 and its 200 day moving average price is $90.18. NetEase, Inc. has a 1 year low of $75.85 and a 1 year high of $118.89.

NetEase (NASDAQ:NTES) last announced its quarterly earnings data on Thursday, August 22nd. The technology company reported $12.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.62 by $10.43. The firm 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 company’s revenue for the quarter was up 6.1% compared to the same quarter last year. During the same period last year, the business posted $1.75 earnings per share. Research analysts expect that NetEase, Inc. will post 6.05 earnings per share for the current 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 paid a dividend of $0.435 per share. This represents a $1.74 annualized dividend and a yield of 2.11%. The ex-dividend date of this dividend was Friday, September 6th. NetEase’s payout ratio is 28.22%.

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.