Loring Wolcott & Coolidge Fiduciary Advisors LLP MA Decreases Stake in NetEase, Inc. (NASDAQ:NTES)

Loring Wolcott & Coolidge Fiduciary Advisors LLP MA lowered its position in NetEase, Inc. (NASDAQ:NTES) by 27.5% in the 1st quarter, HoldingsChannel reports. The fund owned 700 shares of the technology company’s stock after selling 265 shares during the period. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA’s holdings in NetEase were worth $73,000 as of its most recent filing with the SEC.

Several other large investors also recently added to or reduced their stakes in the company. Brighton Jones LLC boosted its stake in NetEase by 1.1% in the 4th quarter. Brighton Jones LLC now owns 10,297 shares of the technology company’s stock worth $919,000 after purchasing an additional 117 shares during the period. Fifth Third Bancorp boosted its stake in NetEase by 2.7% in the 1st quarter. Fifth Third Bancorp now owns 5,264 shares of the technology company’s stock worth $542,000 after purchasing an additional 138 shares during the period. Farther Finance Advisors LLC boosted its stake in NetEase by 81.7% in the 4th quarter. Farther Finance Advisors LLC now owns 338 shares of the technology company’s stock worth $30,000 after purchasing an additional 152 shares during the period. Focus Financial Network Inc. boosted its stake in NetEase by 5.6% in the 1st quarter. Focus Financial Network Inc. now owns 3,763 shares of the technology company’s stock worth $387,000 after purchasing an additional 200 shares during the period. Finally, Polar Capital Holdings Plc boosted its stake in NetEase by 11.1% in the 4th quarter. Polar Capital Holdings Plc now owns 2,397 shares of the technology company’s stock worth $214,000 after purchasing an additional 240 shares during the period. Hedge funds and other institutional investors own 11.07% of the company’s stock.

Analysts Set New Price Targets

NTES has been the subject of several analyst reports. Barclays raised their target price on NetEase from $104.00 to $118.00 and gave the stock an “equal weight” rating in a research note on Friday, May 16th. JPMorgan Chase & Co. raised their target price on NetEase from $120.00 to $135.00 and gave the stock an “overweight” rating in a research note on Monday, May 19th. Deutsche Bank Aktiengesellschaft started coverage on NetEase in a research note on Monday, May 12th. They issued a “buy” rating and a $130.00 target price for the company. Finally, Wall Street Zen upgraded NetEase from a “buy” rating to a “strong-buy” rating in a research report on Thursday, May 22nd. One investment analyst has rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, NetEase currently has a consensus rating of “Buy” and a consensus price target of $119.38.

NetEase Price Performance

NTES stock opened at $132.65 on Friday. NetEase, Inc. has a one year low of $75.85 and a one year high of $134.12. The stock has a market cap of $84.05 billion, a PE ratio of 19.09, a P/E/G ratio of 4.63 and a beta of 0.67. The firm has a 50 day simple moving average of $119.22 and a two-hundred day simple moving average of $105.75.

NetEase Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, June 13th. Shareholders of record on Friday, May 30th were paid a $0.675 dividend. The ex-dividend date was Friday, May 30th. This represents a $2.70 dividend on an annualized basis and a yield of 2.04%. NetEase’s dividend payout ratio is presently 38.71%.

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.