Cetera Investment Advisers Sells 3,398 Shares of NetEase, Inc. (NASDAQ:NTES)

Cetera Investment Advisers lessened its stake in shares of NetEase, Inc. (NASDAQ:NTES - Free Report) by 45.3% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 4,108 shares of the technology company's stock after selling 3,398 shares during the period. Cetera Investment Advisers' holdings in NetEase were worth $366,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Capital World Investors boosted its holdings in shares of NetEase by 40.6% in the fourth quarter. Capital World Investors now owns 3,725,046 shares of the technology company's stock valued at $332,311,000 after acquiring an additional 1,074,818 shares during the period. Greenwoods Asset Management Hong Kong Ltd. boosted its stake in shares of NetEase by 10.8% during the fourth quarter. Greenwoods Asset Management Hong Kong Ltd. now owns 3,632,870 shares of the technology company's stock valued at $324,088,000 after acquiring an additional 354,273 shares during the last quarter. Dodge & Cox boosted its stake in shares of NetEase by 0.6% during the fourth quarter. Dodge & Cox now owns 2,649,876 shares of the technology company's stock valued at $236,395,000 after acquiring an additional 15,900 shares during the last quarter. Invesco Ltd. boosted its stake in shares of NetEase by 88.0% during the fourth quarter. Invesco Ltd. now owns 2,365,464 shares of the technology company's stock valued at $211,023,000 after acquiring an additional 1,107,363 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership lifted its position in NetEase by 2.8% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 2,016,465 shares of the technology company's stock worth $179,889,000 after buying an additional 54,899 shares during the period. 11.07% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently commented on NTES shares. Benchmark raised their target price on shares of NetEase from $105.00 to $115.00 and gave the company a "buy" rating in a research note on Friday, February 21st. Morgan Stanley lifted their target price on NetEase from $108.00 to $117.00 and gave the stock an "overweight" rating in a research report on Wednesday, February 12th. Deutsche Bank Aktiengesellschaft began coverage on NetEase in a report on Monday, May 12th. They issued a "buy" rating and a $130.00 price target on the stock. Wall Street Zen raised NetEase from a "buy" rating to a "strong-buy" rating in a research note on Thursday, May 22nd. Finally, JPMorgan Chase & Co. lifted their target price on NetEase from $120.00 to $135.00 and gave the company an "overweight" rating in a research note on Monday, May 19th. One investment analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, NetEase currently has a consensus rating of "Buy" and an average target price of $119.38.

NetEase Price Performance

Shares of NASDAQ NTES traded down $2.70 during trading hours on Friday, hitting $121.57. 1,603,751 shares of the company's stock were exchanged, compared to its average volume of 1,562,800. The company's 50-day moving average price is $106.68 and its 200-day moving average price is $99.99. The stock has a market capitalization of $77.03 billion, a price-to-earnings ratio of 19.08, a PEG ratio of 3.37 and a beta of 0.66. NetEase, Inc. has a 1-year low of $75.85 and a 1-year high of $126.81.

NetEase Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 13th. Shareholders of record on Friday, May 30th will be paid a $0.675 dividend. This represents a $2.70 annualized dividend and a yield of 2.22%. The ex-dividend date of this dividend is Friday, May 30th. NetEase's dividend payout ratio (DPR) is 38.71%.

NetEase Company Profile

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.