NetEase, Inc. $NTES Shares Acquired by NewEdge Wealth LLC

NewEdge Wealth LLC raised its holdings in NetEase, Inc. (NASDAQ:NTES) by 114.3% in the first quarter, HoldingsChannel reports. The institutional investor owned 48,068 shares of the technology company’s stock after acquiring an additional 25,634 shares during the quarter. NewEdge Wealth LLC’s holdings in NetEase were worth $5,381,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the business. V Square Quantitative Management LLC acquired a new stake in NetEase during the 1st quarter worth about $25,000. Atlas Capital Advisors Inc. purchased a new stake in NetEase during the 4th quarter valued at about $47,000. Harbour Investments Inc. increased its holdings in shares of NetEase by 7,480.0% in the fourth quarter. Harbour Investments Inc. now owns 379 shares of the technology company’s stock valued at $52,000 after purchasing an additional 374 shares during the period. Smartleaf Asset Management LLC raised its stake in shares of NetEase by 3,381.8% in the second 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 last quarter. Finally, MidFirst Bank purchased a new position in shares of NetEase in the fourth quarter worth about $57,000. Institutional investors and hedge funds own 11.07% of the company’s stock.

Insider Buying and Selling

In other news, General Counsel Paul William Boltz, Jr. sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, June 29th. The shares were sold at an average price of $128.30, for a total transaction of $1,283,000.00. Following the sale, the general counsel owned 12,223 shares of the company’s stock, valued at $1,568,210.90. This trade represents a 45.00% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 54.70% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on NTES shares. Weiss Ratings upgraded NetEase from a “hold (c)” rating to a “hold (c+)” rating in a research report on Monday. Zacks Research raised shares of NetEase from a “hold” rating to a “strong-buy” rating in a research report on Monday, June 8th. Morgan Stanley restated an “overweight” rating and set a $158.00 price objective on shares of NetEase in a research note on Tuesday, May 26th. Wall Street Zen downgraded shares of NetEase from a “buy” rating to a “hold” rating in a report on Monday, July 6th. Finally, Benchmark reiterated a “buy” rating on shares of NetEase in a research note on Friday, May 22nd. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, NetEase has a consensus rating of “Moderate Buy” and a consensus target price of $158.38.

NetEase Stock Down 0.8%

Shares of NTES opened at $120.18 on Friday. The company has a market capitalization of $76.73 billion, a price-to-earnings ratio of 15.96, a PEG ratio of 1.57 and a beta of 0.72. NetEase, Inc. has a 52 week low of $106.06 and a 52 week high of $159.55. The stock’s 50-day moving average price is $123.84 and its 200-day moving average price is $121.91.

NetEase Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, June 18th. Shareholders of record on Friday, June 5th were issued a $0.72 dividend. The ex-dividend date of this dividend was Friday, June 5th. This represents a $2.88 dividend on an annualized basis and a yield of 2.4%. NetEase’s payout ratio is presently 38.11%.

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.