SVB Wealth LLC Sells 6,787 Shares of NetEase, Inc. $NTES

SVB Wealth LLC lowered its position in NetEase, Inc. (NASDAQ:NTES) by 25.4% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 19,927 shares of the technology company’s stock after selling 6,787 shares during the period. SVB Wealth LLC’s holdings in NetEase were worth $2,742,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in NetEase by 68,860.6% in the 3rd quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 8,551,117 shares of the technology company’s stock worth $1,299,684,000 after purchasing an additional 8,538,717 shares in the last quarter. Bank of Montreal Can lifted its stake in NetEase by 1,636.4% in the 3rd quarter. Bank of Montreal Can now owns 662,557 shares of the technology company’s stock worth $100,702,000 after purchasing an additional 624,399 shares in the last quarter. Man Group plc lifted its stake in NetEase by 33.3% in the 2nd quarter. Man Group plc now owns 983,156 shares of the technology company’s stock worth $132,313,000 after purchasing an additional 245,872 shares in the last quarter. Causeway Capital Management LLC lifted its stake in NetEase by 44.6% in the 3rd quarter. Causeway Capital Management LLC now owns 638,315 shares of the technology company’s stock worth $97,017,000 after purchasing an additional 196,821 shares in the last quarter. Finally, Tiger Pacific Capital LP purchased a new stake in NetEase in the 3rd quarter worth $28,993,000. Institutional investors own 11.07% of the company’s stock.

NetEase Trading Up 0.3%

Shares of NASDAQ NTES opened at $116.21 on Tuesday. The firm’s 50-day moving average price is $114.61 and its 200-day moving average price is $127.87. The stock has a market capitalization of $73.63 billion, a price-to-earnings ratio of 15.83, a P/E/G ratio of 1.49 and a beta of 0.72. NetEase, Inc. has a 12-month low of $105.00 and a 12-month high of $159.55.

NetEase Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 27th. Stockholders of record on Monday, March 16th were given a dividend of $1.16 per share. The ex-dividend date was Monday, March 16th. This represents a $4.64 annualized dividend and a dividend yield of 4.0%. This is a positive change from NetEase’s previous quarterly dividend of $0.57. NetEase’s dividend payout ratio is currently 63.08%.

Analysts Set New Price Targets

Several brokerages have commented on NTES. Citigroup reiterated a “buy” rating on shares of NetEase in a research note on Wednesday, February 11th. Morgan Stanley reiterated an “overweight” rating and issued a $154.00 price target on shares of NetEase in a research note on Monday, March 2nd. Nomura decreased their price target on shares of NetEase from $160.00 to $155.00 and set a “buy” rating on the stock in a research note on Friday, February 13th. Benchmark reiterated a “buy” rating on shares of NetEase in a research note on Thursday, February 12th. Finally, Barclays lowered their price objective on shares of NetEase from $135.00 to $132.00 and set an “equal weight” rating for the company in a research report on Thursday, February 12th. Seven equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $156.88.

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.