Assetmark Inc. Purchases 8,248 Shares of NetEase, Inc. (NASDAQ:NTES)

Assetmark Inc. lifted its holdings in NetEase, Inc. (NASDAQ:NTES - Free Report) by 27.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 38,469 shares of the technology company's stock after acquiring an additional 8,248 shares during the quarter. Assetmark Inc.'s holdings in NetEase were worth $3,597,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of NTES. Mather Group LLC. lifted its holdings 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 buying an additional 283 shares in the last quarter. SYSTM Wealth Solutions LLC lifted 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 worth $31,000 after buying an additional 117 shares in the last quarter. Ariadne Wealth Management LP acquired a new position in NetEase during the 2nd quarter worth $35,000. Highline Wealth Partners LLC acquired a new position in shares of NetEase in the 3rd quarter valued at $45,000. Finally, Allspring Global Investments Holdings LLC acquired a new position in shares of NetEase in the 3rd quarter valued at $76,000. 11.07% of the stock is owned by institutional investors and hedge funds.

NetEase Price Performance

NTES stock traded down $2.19 during trading hours on Wednesday, reaching $76.28. 1,605,995 shares of the stock were exchanged, compared to its average volume of 1,732,885. The firm's 50-day moving average is $83.54 and its 200-day moving average is $89.21. The company has a market cap of $48.98 billion, a price-to-earnings ratio of 12.44, a PEG ratio of 1.74 and a beta of 0.57. NetEase, Inc. has a 12 month low of $75.85 and a 12 month high of $118.89.

NetEase (NASDAQ:NTES - Get Free Report) last released its 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 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 in the prior year, the company earned $1.75 EPS. The company's revenue was up 6.1% on a year-over-year basis. As a group, equities research analysts forecast that NetEase, Inc. will post 6.02 earnings per share for the current year.

NetEase Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 20th. Stockholders 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 dividend on an annualized basis and a dividend yield of 2.28%. NetEase's dividend payout ratio is 28.22%.

Analyst Upgrades and Downgrades

NTES has been the topic of a number of analyst reports. StockNews.com downgraded NetEase from a "strong-buy" rating to a "buy" rating in a research note on Saturday, July 20th. Barclays cut their price target on NetEase from $104.00 to $82.00 and set an "equal weight" rating on the stock in a research note on Monday, August 26th. Bank of America cut their price target on NetEase from $142.00 to $120.00 and set a "buy" rating on the stock in a research note on Friday, August 23rd. Finally, Jefferies Financial Group cut their price target on NetEase from $126.00 to $103.00 and set a "buy" rating on the stock in a research note on Thursday, August 22nd. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, NetEase presently has a consensus 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.