abrdn plc Sells 4,551 Shares of NetEase, Inc. (NASDAQ:NTES)

abrdn plc decreased its stake in shares of NetEase, Inc. (NASDAQ:NTESGet Rating) by 25.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 13,310 shares of the technology company’s stock after selling 4,551 shares during the period. abrdn plc’s holdings in NetEase were worth $1,198,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. ICICI Prudential Asset Management Co Ltd bought a new stake in shares of NetEase during the 4th quarter valued at about $71,000. Fieldpoint Private Securities LLC boosted its stake in shares of NetEase by 22.0% during the 1st quarter. Fieldpoint Private Securities LLC now owns 858 shares of the technology company’s stock valued at $77,000 after purchasing an additional 155 shares in the last quarter. Sierra Capital LLC bought a new stake in shares of NetEase during the 1st quarter valued at about $102,000. Rockefeller Capital Management L.P. lifted its position in NetEase by 33.7% during the 4th quarter. Rockefeller Capital Management L.P. now owns 1,845 shares of the technology company’s stock valued at $187,000 after acquiring an additional 465 shares during the period. Finally, Advisor Partners LLC purchased a new position in NetEase during the 4th quarter valued at about $202,000. Institutional investors own 21.18% of the company’s stock.

NetEase Stock Down 1.0 %

NTES opened at $90.60 on Wednesday. The company has a quick ratio of 2.28, a current ratio of 2.30 and a debt-to-equity ratio of 0.03. The firm has a 50 day moving average price of $95.73 and a 200-day moving average price of $94.36. NetEase, Inc. has a twelve month low of $68.62 and a twelve month high of $118.19. The stock has a market capitalization of $59.32 billion, a price-to-earnings ratio of 23.05, a PEG ratio of 1.60 and a beta of 0.42.

NetEase (NASDAQ:NTESGet Rating) last released its quarterly earnings data on Tuesday, May 24th. The technology company reported $1.05 earnings per share for the quarter, beating the consensus estimate of $0.98 by $0.07. NetEase had a net margin of 18.56% and a return on equity of 18.02%. The firm had revenue of $23.56 billion during the quarter, compared to analysts’ expectations of $23.12 billion. During the same period in the previous year, the company earned $1.00 earnings per share. The firm’s quarterly revenue was up 14.8% on a year-over-year basis. Equities research analysts forecast that NetEase, Inc. will post 3.95 earnings per share for the current year.

NetEase Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 23rd. Stockholders of record on Wednesday, June 8th were issued a dividend of $0.322 per share. The ex-dividend date of this dividend was Tuesday, June 7th. This represents a $1.29 annualized dividend and a dividend yield of 1.42%. NetEase’s payout ratio is 32.57%.

Analysts Set New Price Targets

A number of research analysts recently issued reports on NTES shares. The Goldman Sachs Group started coverage on shares of NetEase in a research report on Sunday, April 10th. They set a “buy” rating and a $132.00 price target for the company. StockNews.com cut shares of NetEase from a “strong-buy” rating to a “buy” rating in a research report on Saturday, July 16th. JPMorgan Chase & Co. raised shares of NetEase from an “underweight” rating to an “overweight” rating and lifted their price target for the company from $60.00 to $120.00 in a research report on Monday, May 16th. Macquarie initiated coverage on shares of NetEase in a research report on Tuesday, July 5th. They set an “outperform” rating and a $129.00 price target for the company. Finally, HSBC decreased their target price on shares of NetEase from $126.00 to $122.00 and set a “buy” rating for the company in a report on Wednesday, May 25th. Nine equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $128.50.

About NetEase

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NetEase, Inc provides online services focusing on diverse content, community, communication, and commerce in the Peoples' Republic of China and internationally. The company operates in three segments: Online Game Services, Youdao, Cloud Music, and Innovative Businesses and Others. It develops and operates PC and mobile games, as well as offers games licensed from other game developers.

Further Reading

Institutional Ownership by Quarter for NetEase (NASDAQ:NTES)

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