Central Asset Investments & Management Holdings HK Ltd Takes $468,000 Position in NetEase, Inc. (NASDAQ:NTES)

Central Asset Investments & Management Holdings HK Ltd purchased a new position in NetEase, Inc. (NASDAQ:NTES) in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 5,000 shares of the technology company’s stock, valued at approximately $468,000. NetEase comprises about 0.5% of Central Asset Investments & Management Holdings HK Ltd’s holdings, making the stock its 24th largest holding.

Other large investors have also recently added to or reduced their stakes in the company. Sequoia Financial Advisors LLC lifted its stake in shares of NetEase by 4.3% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 2,575 shares of the technology company’s stock worth $246,000 after acquiring an additional 107 shares during the period. Guinness Atkinson Asset Management Inc lifted its holdings in shares of NetEase by 0.7% during the second quarter. Guinness Atkinson Asset Management Inc now owns 15,422 shares of the technology company’s stock valued at $1,474,000 after purchasing an additional 110 shares during the last quarter. SYSTM Wealth Solutions LLC increased its stake in NetEase by 55.5% in the 2nd 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. Fifth Third Bancorp lifted its stake in NetEase by 1.9% during the second quarter. Fifth Third Bancorp now owns 7,658 shares of the technology company’s stock valued at $732,000 after buying an additional 146 shares in the last quarter. Finally, Financial Advocates Investment Management boosted its holdings in shares of NetEase by 5.4% in the third quarter. Financial Advocates Investment Management now owns 4,647 shares of the technology company’s stock worth $435,000 after buying an additional 237 shares during the period. 11.07% of the stock is currently owned by institutional investors.

NetEase Stock Up 1.5 %

Shares of NTES opened at $85.49 on Friday. The stock’s 50-day moving average price is $83.75 and its 200 day moving average price is $89.01. NetEase, Inc. has a 12-month low of $75.85 and a 12-month high of $118.89. The firm has a market capitalization of $54.90 billion, a price-to-earnings ratio of 13.95, a P/E/G ratio of 1.69 and a beta of 0.57.

NetEase (NASDAQ:NTES) last released its quarterly earnings data on Thursday, August 22nd. The technology company reported $12.05 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 during the quarter, compared to the consensus estimate of $26.01 billion. During the same period last year, the firm earned $1.75 EPS. The firm’s revenue for the quarter was up 6.1% compared to the same quarter last year. Equities research analysts expect that NetEase, Inc. will post 6.02 EPS for the current year.

NetEase Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 29th will be issued a dividend of $0.435 per share. This represents a $1.74 annualized dividend and a yield of 2.04%. The ex-dividend date of this dividend is Friday, November 29th. NetEase’s dividend payout ratio is currently 28.22%.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on NTES. Barclays reduced their target price on NetEase from $104.00 to $82.00 and set an “equal weight” rating for the company in a report on Monday, August 26th. Citigroup boosted their target price on shares of NetEase from $108.00 to $115.00 and gave the stock a “buy” rating in a research report on Friday. StockNews.com downgraded shares of NetEase from a “strong-buy” rating to a “buy” rating in a research report on Saturday, July 20th. Jefferies Financial Group decreased their target price on NetEase from $126.00 to $103.00 and set a “buy” rating for the company in a research report on Thursday, August 22nd. Finally, Benchmark dropped their price target on shares of NetEase from $120.00 to $105.00 and set a “buy” rating on the stock in a research report on Friday. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $107.29.

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.