SVB Wealth LLC Trims Stake in NetEase, Inc. $NTES

SVB Wealth LLC reduced its position in NetEase, Inc. (NASDAQ:NTES) by 25.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 19,927 shares of the technology company’s stock after selling 6,787 shares during the quarter. SVB Wealth LLC’s holdings in NetEase were worth $2,742,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Cornerstone Planning Group LLC purchased a new stake in NetEase in the 3rd quarter worth about $33,000. First Horizon Corp purchased a new stake in NetEase in the 3rd quarter worth about $45,000. Spire Wealth Management raised its position in NetEase by 29.2% in the 3rd quarter. Spire Wealth Management now owns 332 shares of the technology company’s stock worth $50,000 after purchasing an additional 75 shares during the period. Smartleaf Asset Management LLC raised its position in NetEase by 3,381.8% in the 2nd quarter. Smartleaf Asset Management LLC now owns 383 shares of the technology company’s stock worth $51,000 after purchasing an additional 372 shares during the period. Finally, Strs Ohio purchased a new stake in NetEase in the 1st quarter worth about $63,000. 11.07% of the stock is owned by hedge funds and other institutional investors.

NetEase Price Performance

Shares of NTES stock opened at $116.21 on Tuesday. The company has a market capitalization of $73.63 billion, a P/E ratio of 15.83, a P/E/G ratio of 1.49 and a beta of 0.72. The company’s 50-day simple moving average is $114.61 and its two-hundred day simple moving average is $127.87. NetEase, Inc. has a one year low of $105.00 and a one year high of $159.55.

NetEase Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 27th. Shareholders of record on Monday, March 16th were paid a $1.16 dividend. The ex-dividend date was Monday, March 16th. This represents a $4.64 dividend on an annualized basis and a yield of 4.0%. This is an increase from NetEase’s previous quarterly dividend of $0.57. NetEase’s payout ratio is currently 63.08%.

Analyst Ratings Changes

A number of research firms recently weighed in on NTES. Barclays reduced their price objective on shares of NetEase from $135.00 to $132.00 and set an “equal weight” rating on the stock in a research report on Thursday, February 12th. Benchmark reissued a “buy” rating on shares of NetEase in a research report on Thursday, February 12th. Nomura reduced their price objective on shares of NetEase from $160.00 to $155.00 and set a “buy” rating on the stock in a research report on Friday, February 13th. Morgan Stanley reissued an “overweight” rating and issued a $154.00 price objective on shares of NetEase in a research report on Monday, March 2nd. Finally, Citigroup reissued a “buy” rating on shares of NetEase in a research report on Wednesday, February 11th. Seven analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat.com, NetEase currently has an average rating of “Moderate Buy” and an average target price of $156.88.

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.