Moran Wealth Management LLC Sells 67,274 Shares of NetEase, Inc. (NASDAQ:NTES)

Moran Wealth Management LLC trimmed its position in shares of NetEase, Inc. (NASDAQ:NTES - Free Report) by 95.4% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,258 shares of the technology company's stock after selling 67,274 shares during the quarter. Moran Wealth Management LLC's holdings in NetEase were worth $305,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. Advisors Asset Management Inc. raised its holdings in NetEase by 19.2% during the third quarter. Advisors Asset Management Inc. now owns 16,989 shares of the technology company's stock worth $1,589,000 after buying an additional 2,742 shares during the last quarter. Euro Pacific Asset Management LLC increased its position in shares of NetEase by 3.8% during the third quarter. Euro Pacific Asset Management LLC now owns 12,964 shares of the technology company's stock worth $1,215,000 after acquiring an additional 469 shares in the last quarter. Central Asset Investments & Management Holdings HK Ltd acquired a new stake in shares of NetEase in the 3rd quarter worth about $468,000. Ashton Thomas Private Wealth LLC lifted its position in NetEase by 5.5% in the 3rd quarter. Ashton Thomas Private Wealth LLC now owns 7,892 shares of the technology company's stock valued at $738,000 after acquiring an additional 409 shares in the last quarter. Finally, GSA Capital Partners LLP lifted its position in NetEase by 20.6% in the 3rd quarter. GSA Capital Partners LLP now owns 21,853 shares of the technology company's stock valued at $2,043,000 after acquiring an additional 3,739 shares in the last quarter. 11.07% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have recently commented on the company. Jefferies Financial Group lowered their price objective on NetEase from $126.00 to $103.00 and set a "buy" rating for the company in a research note on Thursday, August 22nd. Bank of America decreased their price target on NetEase from $142.00 to $120.00 and set a "buy" rating for the company in a report on Friday, August 23rd. Benchmark dropped their price objective on NetEase from $120.00 to $105.00 and set a "buy" rating on the stock in a research note on Friday, November 15th. Citigroup upped their target price on shares of NetEase from $108.00 to $115.00 and gave the stock a "buy" rating in a research note on Friday, November 15th. Finally, Barclays dropped their price target on shares of NetEase from $104.00 to $82.00 and set an "equal weight" rating on the stock in a research report on Monday, August 26th. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $107.29.

NetEase Trading Down 2.5 %

Shares of NASDAQ:NTES traded down $2.19 during midday trading on Friday, reaching $86.45. The company had a trading volume of 1,991,525 shares, compared to its average volume of 1,614,559. The stock has a market cap of $55.51 billion, a P/E ratio of 14.60, a P/E/G ratio of 3.35 and a beta of 0.57. The company's 50 day moving average price is $84.75 and its 200 day moving average price is $88.58. NetEase, Inc. has a 52-week low of $75.85 and a 52-week high of $115.43.

NetEase (NASDAQ:NTES - Get Free Report) last posted its quarterly earnings results 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 26.02% and a return on equity of 20.82%. The company had revenue of $25.49 billion for the quarter, compared to analysts' expectations of $26.01 billion. During the same quarter in the previous year, the firm posted $1.75 EPS. NetEase's revenue was up 6.1% on a year-over-year basis. Research analysts forecast that NetEase, Inc. will post 6.08 EPS for the current fiscal year.

NetEase Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 29th will be paid a $0.435 dividend. This represents a $1.74 dividend on an annualized basis and a yield of 2.01%. The ex-dividend date is Friday, November 29th. NetEase's dividend payout ratio is currently 29.22%.

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.