Vestmark Advisory Solutions Inc. Lowers Holdings in NetEase, Inc. $NTES

Vestmark Advisory Solutions Inc. reduced its position in shares of NetEase, Inc. (NASDAQ:NTES) by 54.2% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 4,043 shares of the technology company’s stock after selling 4,776 shares during the quarter. Vestmark Advisory Solutions Inc.’s holdings in NetEase were worth $615,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also made changes to their positions in the company. NewSquare Capital LLC increased its stake in shares of NetEase by 137.2% during the second quarter. NewSquare Capital LLC now owns 185 shares of the technology company’s stock valued at $25,000 after buying an additional 107 shares during the period. Cornerstone Planning Group LLC bought a new position in NetEase during the 3rd quarter worth about $33,000. Spire Wealth Management grew its holdings in NetEase by 159.6% during the 2nd quarter. Spire Wealth Management now owns 257 shares of the technology company’s stock worth $35,000 after acquiring an additional 158 shares in the last quarter. Steigerwald Gordon & Koch Inc. purchased a new position in NetEase during the 3rd quarter valued at about $38,000. Finally, First Horizon Corp bought a new stake in shares of NetEase in the 3rd quarter valued at about $45,000. 11.07% of the stock is currently owned by hedge funds and other institutional investors.

NetEase Trading Down 0.2%

Shares of NTES stock opened at $115.44 on Friday. NetEase, Inc. has a 12-month low of $88.54 and a 12-month high of $159.55. The business’s fifty day simple moving average is $131.27 and its 200-day simple moving average is $138.28. The company has a market cap of $73.14 billion, a PE ratio of 15.73, a PEG ratio of 1.47 and a beta of 0.71.

NetEase Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 27th. Shareholders of record on Monday, March 16th will be paid a $1.16 dividend. This represents a $4.64 dividend on an annualized basis and a yield of 4.0%. This is a boost from NetEase’s previous quarterly dividend of $0.57. The ex-dividend date is Monday, March 16th. NetEase’s dividend payout ratio (DPR) is 30.93%.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on NTES shares. Benchmark reiterated a “buy” rating on shares of NetEase in a research note on Thursday, February 12th. Weiss Ratings restated a “hold (c)” rating on shares of NetEase in a report on Monday, December 22nd. Barclays cut their price target on NetEase from $135.00 to $132.00 and set an “equal weight” rating on the stock in a report on Thursday, February 12th. Nomura reduced their price target on NetEase from $160.00 to $155.00 and set a “buy” rating for the company in a research report on Friday, February 13th. Finally, Citigroup restated a “buy” rating on shares of NetEase in a research note on Wednesday, February 11th. Eight research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $155.67.

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.