Alps Advisors Inc. Sells 2,016 Shares of NetEase, Inc. (NASDAQ:NTES)

Alps Advisors Inc. lessened its holdings in shares of NetEase, Inc. (NASDAQ:NTES - Free Report) by 24.8% in the first quarter, according to its most recent filing with the SEC. The firm owned 6,100 shares of the technology company's stock after selling 2,016 shares during the quarter. Alps Advisors Inc.'s holdings in NetEase were worth $628,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in NTES. Farther Finance Advisors LLC lifted its holdings in shares of NetEase by 81.7% in the fourth quarter. Farther Finance Advisors LLC now owns 338 shares of the technology company's stock valued at $30,000 after buying an additional 152 shares during the period. Mather Group LLC. lifted its holdings in shares of NetEase by 1,415.0% in the first quarter. Mather Group LLC. now owns 303 shares of the technology company's stock valued at $31,000 after buying an additional 283 shares during the period. TD Private Client Wealth LLC acquired a new stake in shares of NetEase during the first quarter worth $65,000. Toronto Dominion Bank acquired a new stake in shares of NetEase during the fourth quarter worth $145,000. Finally, Pine Haven Investment Counsel Inc acquired a new stake in shares of NetEase during the first quarter worth $206,000. Institutional investors and hedge funds own 11.07% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on NTES. JPMorgan Chase & Co. boosted their target price on NetEase from $120.00 to $135.00 and gave the stock an "overweight" rating in a research report on Monday, May 19th. Barclays boosted their target price on NetEase from $104.00 to $118.00 and gave the stock an "equal weight" rating in a research report on Friday, May 16th. Wall Street Zen raised NetEase from a "buy" rating to a "strong-buy" rating in a research report on Thursday, May 22nd. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on NetEase in a research report on Monday, May 12th. They set a "buy" rating and a $130.00 target price on the stock. One investment analyst has rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Buy" and a consensus target price of $119.38.

NetEase Stock Performance

NASDAQ:NTES traded up $3.29 during trading hours on Friday, hitting $136.48. 351,522 shares of the company's stock traded hands, compared to its average volume of 1,462,125. The firm has a market cap of $86.47 billion, a P/E ratio of 19.63, a P/E/G ratio of 4.62 and a beta of 0.69. NetEase, Inc. has a twelve month low of $75.85 and a twelve month high of $136.88. The stock's fifty day moving average price is $126.57 and its two-hundred day moving average price is $109.54.

NetEase Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, June 13th. Shareholders of record on Friday, May 30th were paid a $0.675 dividend. The ex-dividend date was Friday, May 30th. This represents a $2.70 dividend on an annualized basis and a yield of 1.98%. NetEase's dividend payout ratio (DPR) is currently 38.71%.

About NetEase

NetEase, Inc engages in online games, music streaming, online intelligent learning services, and internet content services businesses in China and internationally . The company operates through Games and Related Value-Added Services, Youdao, Cloud Music, and Innovative Businesses and Others segments.