Raymond James & Associates Increases Stake in NetEase, Inc. (NASDAQ:NTES)

Raymond James & Associates boosted its position in shares of NetEase, Inc. (NASDAQ:NTES) by 20.5% during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 25,823 shares of the technology company’s stock after purchasing an additional 4,395 shares during the quarter. Raymond James & Associates’ holdings in NetEase were worth $2,468,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of NTES. Mather Group LLC. grew its position in NetEase by 1,415.0% during the 2nd quarter. Mather Group LLC. now owns 303 shares of the technology company’s stock valued at $31,000 after purchasing an additional 283 shares during the last quarter. USA Financial Formulas grew its position in NetEase by 1,153.1% during the 4th quarter. USA Financial Formulas now owns 401 shares of the technology company’s stock valued at $37,000 after purchasing an additional 369 shares during the last quarter. UMB Bank n.a. purchased a new stake in NetEase during the 1st quarter valued at about $50,000. ORG Partners LLC purchased a new stake in NetEase during the 1st quarter valued at about $50,000. Finally, AdvisorNet Financial Inc grew its position in NetEase by 39.6% during the 2nd quarter. AdvisorNet Financial Inc now owns 1,400 shares of the technology company’s stock valued at $134,000 after purchasing an additional 397 shares during the last quarter. 11.07% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on NTES. Benchmark raised their price target on shares of NetEase from $144.00 to $145.00 and gave the company a “buy” rating in a report on Friday, May 24th. StockNews.com downgraded shares of NetEase from a “strong-buy” rating to a “buy” rating in a report on Saturday, July 20th. Barclays dropped their price target 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. Morgan Stanley reaffirmed an “equal weight” rating and set a $100.00 price target on shares of NetEase in a report on Friday, July 5th. Finally, Bank of America dropped 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. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $112.67.

NetEase Stock Down 0.1 %

Shares of NASDAQ:NTES opened at $80.44 on Monday. The firm’s 50 day moving average price is $90.64 and its 200-day moving average price is $96.21. NetEase, Inc. has a twelve month low of $80.18 and a twelve month high of $118.89. The stock has a market capitalization of $51.66 billion, a PE ratio of 12.47, a price-to-earnings-growth ratio of 1.61 and a beta of 0.53.

NetEase (NASDAQ:NTES) last issued its quarterly earnings data on Thursday, August 22nd. The technology company reported $12.05 earnings per share for the quarter, topping the consensus estimate of $1.62 by $10.43. NetEase had a net margin of 26.98% and a return on equity of 22.30%. The firm 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 business earned $1.75 EPS. The business’s quarterly revenue was up 6.1% on a year-over-year basis. Analysts expect that NetEase, Inc. will post 6.67 earnings per share for the current fiscal year.

NetEase Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 20th. Shareholders of record on Friday, September 6th will be paid a dividend of $0.435 per share. This represents a $1.74 dividend on an annualized basis and a yield of 2.16%. The ex-dividend date is Friday, September 6th. NetEase’s payout ratio is 32.40%.

NetEase Company 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.