Financial Advocates Investment Management Has $435,000 Stock Holdings in NetEase, Inc. (NASDAQ:NTES)

Financial Advocates Investment Management raised its holdings in NetEase, Inc. (NASDAQ:NTES) by 5.4% in the 3rd quarter, HoldingsChannel reports. The fund owned 4,647 shares of the technology company’s stock after acquiring an additional 237 shares during the period. Financial Advocates Investment Management’s holdings in NetEase were worth $435,000 at the end of the most recent quarter.

Other large investors have 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 grew its position in shares of NetEase by 55.5% in the 2nd quarter. SYSTM Wealth Solutions LLC now owns 328 shares of the technology company’s stock valued at $31,000 after buying an additional 117 shares during the last quarter. Ariadne Wealth Management LP bought a new stake in shares of NetEase in the 2nd quarter valued at about $35,000. Highline Wealth Partners LLC acquired a new stake in shares of NetEase in the third quarter valued at about $45,000. Finally, ORG Partners LLC bought a new position in shares of NetEase during the first quarter worth about $50,000. Institutional investors own 11.07% of the company’s stock.

NetEase Stock Down 1.7 %

Shares of NASDAQ NTES opened at $79.12 on Friday. The firm has a market cap of $50.81 billion, a PE ratio of 12.91, a P/E/G ratio of 1.78 and a beta of 0.57. The company’s fifty day simple moving average is $83.79 and its 200 day simple moving average is $89.95. 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 data on Thursday, August 22nd. The technology company reported $12.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.62 by $10.43. NetEase had a net margin of 26.98% and a return on equity of 22.30%. The company had revenue of $25.49 billion for the quarter, compared to analysts’ expectations of $26.01 billion. During the same quarter in the prior year, the firm earned $1.75 EPS. The business’s revenue was up 6.1% on a year-over-year basis. On average, equities analysts predict that NetEase, Inc. will post 6.02 earnings per share for the current year.

NetEase Cuts Dividend

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

Wall Street Analysts Forecast Growth

NTES has been the subject of a number of recent analyst reports. Bank of America decreased their target price 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. StockNews.com cut shares of NetEase from a “strong-buy” rating to a “buy” rating in a research report on Saturday, July 20th. Barclays dropped their target price on shares of NetEase from $104.00 to $82.00 and set an “equal weight” rating on the stock in a report on Monday, August 26th. Finally, Jefferies Financial Group decreased 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 equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price 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.