Highline Wealth Partners LLC Takes $45,000 Position in NetEase, Inc. (NASDAQ:NTES)

Highline Wealth Partners LLC bought a new stake in shares of NetEase, Inc. (NASDAQ:NTES) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 481 shares of the technology company’s stock, valued at approximately $45,000.

Other large investors have also recently modified their holdings of the company. Mather Group LLC. increased its position in shares of 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. SYSTM Wealth Solutions LLC boosted its holdings in NetEase by 55.5% during the 2nd quarter. SYSTM Wealth Solutions LLC now owns 328 shares of the technology company’s stock valued at $31,000 after acquiring an additional 117 shares during the period. Ariadne Wealth Management LP purchased a new position in NetEase during the 2nd quarter valued at $35,000. ORG Partners LLC purchased a new position in NetEase during the 1st quarter valued at $50,000. Finally, Allspring Global Investments Holdings LLC purchased a new position in NetEase during the 3rd quarter valued at $76,000. Institutional investors own 11.07% of the company’s stock.

NetEase Price Performance

Shares of NASDAQ:NTES opened at $80.70 on Thursday. The business’s 50-day moving average is $83.89 and its 200 day moving average is $90.11. NetEase, Inc. has a 1 year low of $75.85 and a 1 year high of $118.89. The firm has a market capitalization of $51.82 billion, a P/E ratio of 13.16, a P/E/G ratio of 1.76 and a beta of 0.55.

NetEase (NASDAQ:NTES) last announced its earnings results on Thursday, August 22nd. The technology company reported $12.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.62 by $10.43. NetEase had a return on equity of 22.30% and a net margin of 26.98%. The company had revenue of $25.49 billion for the quarter, compared to analyst estimates of $26.01 billion. During the same period in the prior year, the company posted $1.75 EPS. The firm’s quarterly revenue was up 6.1% compared to the same quarter last year. On average, analysts expect that NetEase, Inc. will post 6.05 EPS for the current year.

NetEase Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 20th. Stockholders of record on Friday, September 6th were issued a $0.435 dividend. This represents a $1.74 dividend on an annualized basis and a dividend yield of 2.16%. The ex-dividend date was Friday, September 6th. NetEase’s dividend payout ratio is presently 28.22%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the company. StockNews.com cut NetEase from a “strong-buy” rating to a “buy” rating in a report on Saturday, July 20th. Barclays lowered 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. Bank of America lowered their target price on NetEase from $142.00 to $120.00 and set a “buy” rating for the company in a report on Friday, August 23rd. Jefferies Financial Group lowered their target price on NetEase from $126.00 to $103.00 and set a “buy” rating for the company in a report 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 report on Friday, July 5th. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $112.67.

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.