Guinness Atkinson Asset Management Inc Trims Stake in NetEase, Inc. (NASDAQ:NTES)

by · The Markets Daily

Guinness Atkinson Asset Management Inc lessened its stake in NetEase, Inc. (NASDAQ:NTES – Free Report) by 3.6% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 14,865 shares of the technology company’s stock after selling 557 shares during the period. NetEase comprises approximately 0.7% of Guinness Atkinson Asset Management Inc’s investment portfolio, making the stock its 25th largest holding. Guinness Atkinson Asset Management Inc’s holdings in NetEase were worth $1,390,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in NTES. V Square Quantitative Management LLC purchased a new position in shares of NetEase in the 4th quarter valued at about $371,000. Virtu Financial LLC acquired a new stake in NetEase in the 4th quarter valued at $3,566,000. Wellington Management Group LLP increased its holdings in NetEase by 226.4% in the 4th quarter. Wellington Management Group LLP now owns 1,896,495 shares of the technology company’s stock worth $176,677,000 after acquiring an additional 1,315,410 shares in the last quarter. Willner & Heller LLC purchased a new stake in NetEase in the 4th quarter worth $331,000. Finally, Moseley Investment Management Inc. acquired a new position in NetEase during the first quarter worth $207,000. Institutional investors and hedge funds own 11.07% of the company’s stock.

Wall Street Analysts Forecast Growth

NTES has been the subject of a number of research reports. Bank of America cut their target price on shares of NetEase from $142.00 to $120.00 and set a “buy” rating for the company in a research note on Friday, August 23rd. Barclays decreased their target price 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. Jefferies Financial Group lowered their target price on shares of NetEase from $126.00 to $103.00 and set a “buy” rating on the stock in a research note on Thursday, August 22nd. Finally, Morgan Stanley reiterated an “equal weight” rating and issued a $100.00 target price on shares of NetEase in a research report on Friday, July 5th. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $112.67.

Get Our Latest Stock Report on NTES

NetEase Stock Performance

Shares of NASDAQ NTES traded up $0.27 during trading on Friday, hitting $88.35. 1,258,024 shares of the company were exchanged, compared to its average volume of 1,768,752. The company has a fifty day moving average price of $86.05 and a 200-day moving average price of $91.78. The firm has a market capitalization of $56.73 billion, a PE ratio of 13.70, a P/E/G ratio of 1.96 and a beta of 0.55. NetEase, Inc. has a 12-month low of $75.85 and a 12-month high of $118.89.

NetEase (NASDAQ:NTES – Get Free Report) last posted its 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 company had revenue of $25.49 billion for the quarter, compared to analyst estimates of $26.01 billion. NetEase had a net margin of 26.98% and a return on equity of 22.30%. NetEase’s revenue was up 6.1% on a year-over-year basis. During the same period in the previous year, the business posted $1.75 EPS. Research analysts anticipate that NetEase, Inc. will post 6.05 earnings per share for the current fiscal year.

NetEase Cuts Dividend

The firm also recently announced 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. The ex-dividend date of this dividend was Friday, September 6th. This represents a $1.74 annualized dividend and a yield of 1.97%. NetEase’s dividend payout ratio (DPR) is 26.82%.

NetEase Company Profile

(Free Report)

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.

See Also