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

Janney Montgomery Scott LLC decreased its stake in shares of NetEase, Inc. (NASDAQ:NTES - Free Report) by 35.0% during the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 9,278 shares of the technology company's stock after selling 5,001 shares during the quarter. Janney Montgomery Scott LLC's holdings in NetEase were worth $955,000 as of its most recent filing with the SEC.

Several other institutional investors also recently modified their holdings of NTES. Brighton Jones LLC lifted its position in NetEase by 1.1% in the fourth quarter. Brighton Jones LLC now owns 10,297 shares of the technology company's stock worth $919,000 after purchasing an additional 117 shares during the period. Truist Financial Corp bought a new position in shares of NetEase during the 4th quarter worth about $218,000. SVB Wealth LLC bought a new stake in NetEase in the fourth quarter valued at about $3,817,000. US Bancorp DE grew its stake in shares of NetEase by 14.4% in the 4th quarter. US Bancorp DE now owns 7,291 shares of the technology company's stock valued at $650,000 after purchasing an additional 918 shares during the period. Finally, Jones Financial Companies Lllp grew its stake in shares of NetEase by 58.4% in the 4th quarter. Jones Financial Companies Lllp now owns 3,853 shares of the technology company's stock valued at $344,000 after purchasing an additional 1,420 shares during the period. Institutional investors and hedge funds own 11.07% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts recently commented on NTES shares. Wall Street Zen raised NetEase from a "buy" rating to a "strong-buy" rating in a research note on Thursday, May 22nd. Barclays boosted 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. JPMorgan Chase & Co. boosted their price target on shares of NetEase from $120.00 to $135.00 and gave the company an "overweight" rating in a research report on Monday, May 19th. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on shares of NetEase in a report on Monday, May 12th. They set a "buy" rating and a $130.00 price objective for the company. One equities research analyst has rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, NetEase has an average rating of "Buy" and a consensus target price of $119.38.

NetEase Stock Performance

NTES stock traded up $0.65 during mid-day trading on Thursday, hitting $133.65. 377,753 shares of the company were exchanged, compared to its average volume of 1,493,710. NetEase, Inc. has a 1-year low of $75.85 and a 1-year high of $135.32. The firm's 50 day simple moving average is $121.16 and its 200 day simple moving average is $106.53. The firm has a market cap of $84.68 billion, a P/E ratio of 19.23, a P/E/G ratio of 4.69 and a beta of 0.69.

NetEase Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 13th. Investors of record on Friday, May 30th were given a $0.675 dividend. The ex-dividend date was Friday, May 30th. This represents a $2.70 annualized dividend and a yield of 2.02%. NetEase's dividend payout ratio 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.