Ameriprise Financial Inc. Sells 207,652 Shares of NetEase, Inc. (NASDAQ:NTES)

Ameriprise Financial Inc. reduced its holdings in NetEase, Inc. (NASDAQ:NTES - Free Report) by 67.8% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 98,783 shares of the technology company's stock after selling 207,652 shares during the period. Ameriprise Financial Inc.'s holdings in NetEase were worth $9,429,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Farther Finance Advisors LLC increased its stake in NetEase by 81.7% in the 4th 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 last quarter. UMB Bank n.a. boosted its holdings in NetEase by 33.3% in the 4th quarter. UMB Bank n.a. now owns 444 shares of the technology company's stock valued at $40,000 after purchasing an additional 111 shares during the period. Live Oak Investment Partners bought a new position in shares of NetEase in the 4th quarter valued at $62,000. Avior Wealth Management LLC increased its position in NetEase by 148.9% during the 4th quarter. Avior Wealth Management LLC now owns 993 shares of the technology company's stock worth $89,000 after purchasing an additional 594 shares in the last quarter. Finally, SBI Securities Co. Ltd. bought a new stake in NetEase during the 4th quarter worth approximately $110,000. 11.07% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on NTES. Wall Street Zen raised shares of NetEase from a "buy" rating to a "strong-buy" rating in a research note on Thursday. Benchmark raised their price objective on shares of NetEase from $105.00 to $115.00 and gave the stock a "buy" rating in a report on Friday, February 21st. JPMorgan Chase & Co. increased their target price on shares of NetEase from $120.00 to $135.00 and gave the stock an "overweight" rating in a research report on Monday, May 19th. Morgan Stanley raised their price objective on shares of NetEase from $108.00 to $117.00 and gave the company an "overweight" rating in a research report on Wednesday, February 12th. Finally, Barclays raised their target price on shares of NetEase from $104.00 to $118.00 and gave the company an "equal weight" rating in a research note on Friday, May 16th. 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 company currently has an average rating of "Buy" and an average target price of $119.38.

NetEase Stock Performance

Shares of NASDAQ NTES traded up $0.73 during mid-day trading on Friday, hitting $119.75. The stock had a trading volume of 1,023,305 shares, compared to its average volume of 1,582,894. The firm has a market cap of $75.87 billion, a P/E ratio of 18.80, a price-to-earnings-growth ratio of 3.37 and a beta of 0.66. The business has a 50 day moving average price of $104.37 and a two-hundred day moving average price of $98.47. NetEase, Inc. has a 1 year low of $75.85 and a 1 year high of $123.56.

NetEase (NASDAQ:NTES - Get Free Report) last announced its earnings results on Thursday, February 20th. The technology company reported $1.87 EPS for the quarter, beating analysts' consensus estimates of $1.73 by $0.14. NetEase had a net margin of 28.17% and a return on equity of 22.12%. The firm had revenue of $3.66 billion for the quarter, compared to analysts' expectations of $27.16 billion. Equities research analysts predict that NetEase, Inc. will post 6.91 EPS for the current fiscal year.

NetEase Dividend Announcement

The firm also recently announced a dividend, which will be paid on Friday, June 13th. Shareholders of record on Friday, May 30th will be given a $0.675 dividend. The ex-dividend date is Friday, May 30th. NetEase's dividend payout ratio (DPR) is 38.85%.

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.