Janney Montgomery Scott LLC Sells 5,001 Shares of NetEase, Inc. (NASDAQ:NTES)

Janney Montgomery Scott LLC lessened its stake in NetEase, Inc. (NASDAQ:NTES - Free Report) by 35.0% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 9,278 shares of the technology company's stock after selling 5,001 shares during the period. Janney Montgomery Scott LLC's holdings in NetEase were worth $955,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the company. Farther Finance Advisors LLC raised its stake in NetEase by 81.7% in the fourth quarter. Farther Finance Advisors LLC now owns 338 shares of the technology company's stock worth $30,000 after buying an additional 152 shares in the last quarter. Live Oak Investment Partners bought a new stake in NetEase during the 4th quarter valued at about $62,000. SBI Securities Co. Ltd. bought a new position in NetEase in the 4th quarter valued at approximately $110,000. Toronto Dominion Bank purchased a new position in NetEase in the 4th quarter worth about $145,000. Finally, Pine Haven Investment Counsel Inc bought a new stake in NetEase in the 1st quarter worth approximately $206,000. 11.07% of the stock is owned by hedge funds and other institutional investors.

NetEase Stock Performance

Shares of NetEase stock opened at $132.65 on Monday. The business has a 50-day simple moving average of $119.22 and a 200-day simple moving average of $105.88. NetEase, Inc. has a one year low of $75.85 and a one year high of $134.12. The company has a market cap of $84.05 billion, a PE ratio of 19.09, a P/E/G ratio of 4.62 and a beta of 0.67.

NetEase Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 13th. Investors of record on Friday, May 30th were given a $0.675 dividend. This represents a $2.70 dividend on an annualized basis and a dividend yield of 2.04%. The ex-dividend date of this dividend was Friday, May 30th. NetEase's dividend payout ratio (DPR) is 38.71%.

Analyst Ratings Changes

Several equities analysts have weighed in on the stock. Barclays lifted their price target on shares of NetEase from $104.00 to $118.00 and gave the company an "equal weight" rating in a report on Friday, May 16th. Deutsche Bank Aktiengesellschaft started coverage on shares of NetEase in a research note on Monday, May 12th. They issued a "buy" rating and a $130.00 price target on the stock. JPMorgan Chase & Co. raised their price objective on NetEase from $120.00 to $135.00 and gave the company an "overweight" rating in a research report on Monday, May 19th. Finally, Wall Street Zen raised NetEase from a "buy" rating to a "strong-buy" rating in a report on Thursday, May 22nd. One equities research analyst has rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, NetEase currently has a consensus rating of "Buy" and an average price target of $119.38.

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.

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