NetEase, Inc. $NTES Holdings Trimmed by Corient Private Wealth LP

Key Points

• Corient Private Wealth LP cut its NetEase position by 96.5% in the second quarter, selling 103,956 shares and retaining 3,752 shares valued at approximately $481,000. Other institutions, including HighTower Advisors and Ameritas Advisory Services, increased their holdings.
• Analyst sentiment remains generally positive: seven analysts rate NetEase a Buy and three rate it Hold, producing a “Moderate Buy” consensus and an average price target of $163.62.
• NetEase shares opened at $121.16, while the company reduced its quarterly dividend to $0.48 per share from $0.72, resulting in an annualized dividend of $1.92 and a 1.6% yield.

Corient Private Wealth LP reduced its position in NetEase, Inc. (NASDAQ:NTES - Free Report) by 96.5% during the 2nd quarter, according to its most recent filing with the SEC. The firm owned 3,752 shares of the technology company's stock after selling 103,956 shares during the quarter. Corient Private Wealth LP's holdings in NetEase were worth $481,000 as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. HighTower Advisors LLC lifted its stake in shares of NetEase by 36.7% in the second quarter. HighTower Advisors LLC now owns 89,507 shares of the technology company's stock valued at $11,469,000 after purchasing an additional 24,040 shares during the period. Ameritas Advisory Services LLC boosted its stake in shares of NetEase by 25.3% during the 2nd quarter. Ameritas Advisory Services LLC now owns 8,162 shares of the technology company's stock worth $1,046,000 after acquiring an additional 1,647 shares in the last quarter. HB Wealth Management LLC grew its holdings in shares of NetEase by 8.6% in the 2nd quarter. HB Wealth Management LLC now owns 2,535 shares of the technology company's stock worth $325,000 after acquiring an additional 201 shares during the period. XY Capital Ltd acquired a new stake in shares of NetEase in the 2nd quarter worth approximately $1,312,000. Finally, TD Waterhouse Canada Inc. raised its holdings in NetEase by 11.7% during the second quarter. TD Waterhouse Canada Inc. now owns 5,130 shares of the technology company's stock worth $665,000 after purchasing an additional 536 shares during the last quarter. Institutional investors and hedge funds own 11.07% of the company's stock.

Analyst Upgrades and Downgrades

NTES has been the topic of several recent research reports. Wall Street Zen lowered shares of NetEase from a "buy" rating to a "hold" rating in a research report on Sunday, August 2nd. Sanford C. Bernstein restated an "outperform" rating and set a $160.00 target price on shares of NetEase in a report on Friday, August 21st. Nomura lifted their target price on shares of NetEase from $155.00 to $157.00 and gave the stock a "buy" rating in a research report on Tuesday, August 25th. Morgan Stanley reaffirmed an "overweight" rating and issued a $163.00 price target on shares of NetEase in a report on Monday. Finally, Weiss Ratings lowered shares of NetEase from a "hold (c+)" rating to a "hold (c)" rating in a research report on Tuesday, August 4th. Seven research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, NetEase currently has a consensus rating of "Moderate Buy" and a consensus target price of $163.62.

NetEase Stock Down 0.5%

Shares of NetEase stock opened at $121.16 on Thursday. NetEase, Inc. has a fifty-two week low of $106.06 and a fifty-two week high of $156.44. The firm has a market cap of $77.57 billion, a PE ratio of 16.69, a P/E/G ratio of 1.41 and a beta of 0.72. The business's fifty day moving average is $122.77 and its two-hundred day moving average is $120.65.

NetEase Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 18th. Investors of record on Thursday, September 3rd were given a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a yield of 1.6%. This is a negative change from NetEase's previous quarterly dividend of $0.72. The ex-dividend date of this dividend was Thursday, September 3rd. NetEase's dividend payout ratio (DPR) is currently 26.31%.

Insider Buying and Selling

In other NetEase news, VP Aileen Mo sold 716 shares of the stock in a transaction that occurred on Wednesday, September 2nd. The shares were sold at an average price of $120.64, for a total transaction of $86,378.24. The transaction was disclosed in a filing with the SEC, which is available at this link. Company insiders own 54.70% of the company's stock.

NetEase Profile

NetEase, Inc NASDAQ: NTES is a China-based internet technology company founded in 1997 by William Ding, who serves as the company's chief executive officer and director. The company develops and operates online services for consumers in China and international markets.

NetEase's primary business is online games, including role-playing, multiplayer, mobile and personal-computer titles. Its portfolio includes franchises such as Fantasy Westward Journey, Westward Journey Online, Knives Out, Identity V and Onmyoji.

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