Outlook Wealth Advisors LLC Increases Stock Position in NetEase, Inc. (NASDAQ:NTES)

Outlook Wealth Advisors LLC grew its position in NetEase, Inc. (NASDAQ:NTES) by 10.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,154 shares of the technology company’s stock after purchasing an additional 388 shares during the period. Outlook Wealth Advisors LLC’s holdings in NetEase were worth $388,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in NTES. Park Avenue Securities LLC raised its holdings in shares of NetEase by 7.3% in the first quarter. Park Avenue Securities LLC now owns 5,695 shares of the technology company’s stock valued at $589,000 after purchasing an additional 387 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its position in NetEase by 4.7% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 9,501 shares of the technology company’s stock valued at $983,000 after buying an additional 430 shares during the period. Naviter Wealth LLC bought a new position in NetEase during the first quarter valued at about $556,000. Van ECK Associates Corp grew its position in NetEase by 23.8% during the first quarter. Van ECK Associates Corp now owns 580,515 shares of the technology company’s stock valued at $60,066,000 after buying an additional 111,743 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. grew its position in NetEase by 6.3% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 278,802 shares of the technology company’s stock valued at $28,848,000 after buying an additional 16,607 shares during the period. Hedge funds and other institutional investors own 11.07% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently weighed in on NTES shares. Jefferies Financial Group reduced their price target on shares of NetEase from $126.00 to $103.00 and set a “buy” rating for the company in a research report on Thursday, August 22nd. Bank of America reduced their price target 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 lowered shares of NetEase from a “strong-buy” rating to a “buy” rating in a research report on Saturday, July 20th. Barclays cut their target price on shares of NetEase from $104.00 to $82.00 and set an “equal weight” rating for the company in a research report on Monday, August 26th. Finally, Morgan Stanley reiterated an “equal weight” rating and set 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 issued a buy rating to the company. According to MarketBeat.com, NetEase presently has an average rating of “Moderate Buy” and a consensus price target of $112.67.

NetEase Stock Up 1.1 %

Shares of NASDAQ:NTES opened at $79.74 on Friday. The firm has a market capitalization of $51.21 billion, a PE ratio of 13.01, a P/E/G ratio of 1.79 and a beta of 0.55. NetEase, Inc. has a twelve month low of $75.85 and a twelve month high of $118.89. The company has a 50-day moving average price of $84.71 and a two-hundred day moving average price of $90.62.

NetEase (NASDAQ:NTES) last announced its quarterly earnings results 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 firm had revenue of $25.49 billion for the quarter, compared to the consensus estimate of $26.01 billion. During the same period in the prior year, the firm posted $1.75 earnings per share. The company’s revenue for the quarter was up 6.1% on a year-over-year basis. Analysts anticipate that NetEase, Inc. will post 6.05 earnings per share for the current fiscal year.

NetEase Cuts Dividend

The company also recently declared 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 2.18%. The ex-dividend date was Friday, September 6th. NetEase’s payout ratio is 28.22%.

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.