Capital Wealth Planning LLC Sells 8,364 Shares of NetEase, Inc. (NASDAQ:NTES)

Capital Wealth Planning LLC reduced its stake in shares of NetEase, Inc. (NASDAQ:NTES) by 31.9% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 17,825 shares of the technology company’s stock after selling 8,364 shares during the period. Capital Wealth Planning LLC’s holdings in NetEase were worth $1,704,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Mather Group LLC. raised 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 worth $31,000 after purchasing an additional 283 shares during the last quarter. UMB Bank n.a. bought a new position in NetEase during the 1st quarter worth $50,000. ORG Partners LLC bought a new position in NetEase during the 1st quarter worth $50,000. AdvisorNet Financial Inc raised 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 worth $134,000 after purchasing an additional 397 shares during the last quarter. Finally, Mendota Financial Group LLC raised its position in NetEase by 9.2% during the 1st quarter. Mendota Financial Group LLC now owns 1,508 shares of the technology company’s stock worth $156,000 after purchasing an additional 127 shares during the last quarter. 11.07% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research analysts recently issued reports on NTES shares. 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 research report on Thursday, August 22nd. Benchmark lifted their price objective on NetEase from $144.00 to $145.00 and gave the stock a “buy” rating in a research report on Friday, May 24th. Morgan Stanley reissued an “equal weight” rating and issued a $100.00 price objective on shares of NetEase in a research report on Friday, July 5th. Bank of America lowered their price objective on NetEase from $142.00 to $120.00 and set a “buy” rating for the company in a research report on Friday, August 23rd. Finally, StockNews.com lowered NetEase from a “strong-buy” rating to a “buy” rating in a research report on Saturday, July 20th. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, NetEase currently has a consensus rating of “Moderate Buy” and an average target price of $112.67.

NetEase Price Performance

Shares of NTES opened at $77.32 on Monday. The stock has a 50-day moving average of $87.32 and a 200-day moving average of $94.05. The company has a market cap of $49.65 billion, a PE ratio of 11.99, a P/E/G ratio of 1.72 and a beta of 0.54. NetEase, Inc. has a one year low of $75.85 and a one year high of $118.89.

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

NetEase Cuts Dividend

The business also recently declared 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. The ex-dividend date is Friday, September 6th. This represents a $1.74 dividend on an annualized basis and a yield of 2.25%. NetEase’s dividend payout ratio (DPR) is currently 26.82%.

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.