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

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

Other hedge funds have also recently modified their holdings of the company. Mather Group LLC. boosted its stake in shares of NetEase by 1,415.0% in the second quarter. Mather Group LLC. now owns 303 shares of the technology company’s stock worth $31,000 after buying an additional 283 shares during the last quarter. SYSTM Wealth Solutions LLC boosted its position in NetEase by 55.5% during the second 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. Ariadne Wealth Management LP purchased a new position in NetEase during the second quarter worth approximately $35,000. ORG Partners LLC purchased a new position in NetEase during the first quarter worth approximately $50,000. Finally, Allspring Global Investments Holdings LLC purchased a new position in NetEase during the third quarter worth approximately $76,000. Hedge funds and other institutional investors own 11.07% of the company’s stock.

NetEase Stock Performance

NASDAQ:NTES opened at $80.70 on Thursday. NetEase, Inc. has a one year low of $75.85 and a one year high of $118.89. The stock has a market cap of $51.82 billion, a PE ratio of 13.16, a P/E/G ratio of 1.76 and a beta of 0.55. The stock has a 50 day moving average price of $83.89 and a 200 day moving average price of $90.11.

NetEase (NASDAQ:NTES) last posted its quarterly 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. NetEase had a return on equity of 22.30% and a net margin of 26.98%. The firm had revenue of $25.49 billion during the quarter, compared to analysts’ expectations of $26.01 billion. During the same quarter last year, the firm earned $1.75 earnings per share. The business’s revenue for the quarter was up 6.1% on a year-over-year basis. As a group, analysts predict that NetEase, Inc. will post 6.05 earnings per share for the current fiscal year.

NetEase Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 20th. Shareholders of record on Friday, September 6th were paid a dividend of $0.435 per share. The ex-dividend date was Friday, September 6th. This represents a $1.74 annualized dividend and a yield of 2.16%. NetEase’s dividend payout ratio (DPR) is 28.22%.

Analysts Set New Price Targets

NTES has been the topic of a number of recent analyst reports. Jefferies Financial Group lowered their price target on NetEase from $126.00 to $103.00 and set a “buy” rating on the stock in a research report on Thursday, August 22nd. Barclays lowered their price target on NetEase from $104.00 to $82.00 and set an “equal weight” rating on the stock in a research report on Monday, August 26th. Bank of America decreased their target price on NetEase from $142.00 to $120.00 and set a “buy” rating on the stock in a research report on Friday, August 23rd. Morgan Stanley restated an “equal weight” rating and issued a $100.00 target price on shares of NetEase in a research report on Friday, July 5th. Finally, StockNews.com downgraded NetEase from a “strong-buy” rating to a “buy” rating in a research report on Saturday, July 20th. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $112.67.

About NetEase

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.