Maridea Wealth Management LLC Lowers Position in NetEase, Inc. $NTES

Maridea Wealth Management LLC trimmed its position in shares of NetEase, Inc. (NASDAQ:NTES) by 74.1% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,259 shares of the technology company’s stock after selling 6,469 shares during the quarter. Maridea Wealth Management LLC’s holdings in NetEase were worth $345,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the company. NewSquare Capital LLC increased its position in NetEase by 137.2% during the 2nd quarter. NewSquare Capital LLC now owns 185 shares of the technology company’s stock worth $25,000 after purchasing an additional 107 shares during the period. Private Trust Co. NA lifted its holdings in shares of NetEase by 266.0% in the 2nd quarter. Private Trust Co. NA now owns 194 shares of the technology company’s stock valued at $26,000 after buying an additional 141 shares during the period. Cornerstone Planning Group LLC purchased a new stake in shares of NetEase in the third quarter valued at approximately $33,000. Spire Wealth Management grew its holdings in NetEase by 159.6% during the second quarter. Spire Wealth Management now owns 257 shares of the technology company’s stock worth $35,000 after acquiring an additional 158 shares during the period. Finally, Steigerwald Gordon & Koch Inc. purchased a new position in NetEase in the third quarter worth $38,000. Institutional investors and hedge funds own 11.07% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on NTES shares. Wall Street Zen lowered shares of NetEase from a “buy” rating to a “hold” rating in a research report on Sunday, November 23rd. Nomura decreased their price objective on shares of NetEase from $160.00 to $155.00 and set a “buy” rating on the stock in a report on Friday, February 13th. Benchmark restated a “buy” rating on shares of NetEase in a research report on Thursday, February 12th. Sanford C. Bernstein set a $155.00 target price on shares of NetEase in a report on Friday, November 21st. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of NetEase in a research note on Monday, December 22nd. Eight investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, NetEase currently has a consensus rating of “Moderate Buy” and a consensus price target of $155.67.

NetEase Trading Down 0.4%

NASDAQ:NTES opened at $119.16 on Friday. The firm has a market cap of $75.50 billion, a price-to-earnings ratio of 16.23, a price-to-earnings-growth ratio of 1.51 and a beta of 0.71. The company’s 50-day moving average is $133.26 and its two-hundred day moving average is $138.76. NetEase, Inc. has a 12-month low of $88.54 and a 12-month high of $159.55.

NetEase Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 27th. Shareholders of record on Monday, March 16th will be paid a $1.16 dividend. This represents a $4.64 annualized dividend and a yield of 3.9%. The ex-dividend date of this dividend is Monday, March 16th. This is an increase from NetEase’s previous quarterly dividend of $0.57. NetEase’s dividend payout ratio is presently 30.93%.

NetEase Profile

NetEase, Inc (NASDAQ: NTES) is a Chinese technology company headquartered in Hangzhou that develops and operates Internet services and products. Founded in 1997 by William Ding (Ding Lei), the company has grown from an early web portal and e-mail provider into a diversified online services group. William Ding has served as the company’s founder and long-time leader, guiding its expansion into games, digital content and consumer services.

The company’s primary business is interactive entertainment: NetEase Games designs, develops and publishes PC and mobile games for domestic and international audiences, offering a mix of self-developed franchises and titles published under licensing and strategic partnerships.