Corient Private Wealth LLC trimmed its holdings in shares of NetEase, Inc. (NASDAQ:NTES – Free Report) by 7.4% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 108,100 shares of the technology company’s stock after selling 8,613 shares during the period. Corient Private Wealth LLC’s holdings in NetEase were worth $14,877,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also modified their holdings of the company. Atlas Capital Advisors Inc. purchased a new position in shares of NetEase in the fourth quarter worth $47,000. Smartleaf Asset Management LLC lifted its holdings in shares of NetEase by 3,381.8% during the second quarter. Smartleaf Asset Management LLC now owns 383 shares of the technology company’s stock valued at $51,000 after purchasing an additional 372 shares in the last quarter. Harbour Investments Inc. boosted its position in shares of NetEase by 7,480.0% during the fourth quarter. Harbour Investments Inc. now owns 379 shares of the technology company’s stock valued at $52,000 after buying an additional 374 shares during the last quarter. MidFirst Bank purchased a new stake in shares of NetEase during the fourth quarter valued at $57,000. Finally, Spire Wealth Management increased its holdings in NetEase by 31.3% in the 4th quarter. Spire Wealth Management now owns 436 shares of the technology company’s stock worth $60,000 after buying an additional 104 shares in the last quarter. Institutional investors own 11.07% of the company’s stock.
Wall Street Analyst Weigh In
A number of brokerages have weighed in on NTES. Wall Street Zen lowered NetEase from a “buy” rating to a “hold” rating in a research report on Saturday. Zacks Research raised shares of NetEase from a “hold” rating to a “strong-buy” rating in a report on Monday, June 8th. Benchmark reaffirmed a “buy” rating on shares of NetEase in a report on Friday, May 22nd. Finally, Morgan Stanley reiterated an “overweight” rating and issued a $158.00 price target on shares of NetEase in a research note on Tuesday, May 26th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, NetEase has an average rating of “Moderate Buy” and a consensus price target of $157.38.
NetEase Price Performance
NASDAQ NTES opened at $119.25 on Wednesday. The stock has a market capitalization of $76.13 billion, a price-to-earnings ratio of 15.84, a PEG ratio of 1.57 and a beta of 0.72. NetEase, Inc. has a 1-year low of $106.06 and a 1-year high of $159.55. The business’s fifty day moving average price is $118.34 and its 200-day moving average price is $123.49.
NetEase Cuts Dividend
The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 18th. Investors of record on Friday, June 5th were given a dividend of $0.72 per share. This represents a $2.88 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date was Friday, June 5th. NetEase’s dividend payout ratio is 38.11%.
NetEase Company 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.
Read More
- Five stocks we like better than NetEase
- Oracle’s Sell-Off Looks More Like a Mispricing Than a Warning
- Apple’s Intel Deal Arrives at the Right Time for Its Stock
- Liquid Gold: The AI Cooling Retrofit Trade
- 3 Dividend Stocks Under $30 to Anchor Your Portfolio
Want to see what other hedge funds are holding NTES? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for NetEase, Inc. (NASDAQ:NTES – Free Report).
Receive News & Ratings for NetEase Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for NetEase and related companies with MarketBeat.com's FREE daily email newsletter.
