NetEase, Inc. $NTES Shares Purchased by Envestnet Asset Management Inc.

Key Points

• Envestnet Asset Management increased its NetEase stake by 28.1% in the second quarter, purchasing 48,446 additional shares and bringing its holdings to 220,862 shares valued at approximately $28.3 million.
• Analysts maintain a generally positive outlook, with seven Buy ratings and three Holds. NetEase has a “Moderate Buy” consensus rating and an average price target of $163.62, compared with a recent share price near $121.
• NetEase 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; meanwhile, insider ownership stands at 54.7% after a vice president sold shares worth about $86,000.

Envestnet Asset Management Inc. increased its position in shares of NetEase, Inc. (NASDAQ:NTES - Free Report) by 28.1% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 220,862 shares of the technology company's stock after buying an additional 48,446 shares during the period. Envestnet Asset Management Inc.'s holdings in NetEase were worth $28,301,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Cookson Peirce & Co. Inc. raised its position in shares of NetEase by 2.2% in the fourth quarter. Cookson Peirce & Co. Inc. now owns 4,961 shares of the technology company's stock worth $683,000 after acquiring an additional 106 shares during the period. EverSource Wealth Advisors LLC grew its position in shares of NetEase by 16.0% during the 1st quarter. EverSource Wealth Advisors LLC now owns 777 shares of the technology company's stock valued at $87,000 after acquiring an additional 107 shares during the period. Mission Wealth Management LP grew its position in shares of NetEase by 4.4% during the 2nd quarter. Mission Wealth Management LP now owns 2,631 shares of the technology company's stock valued at $337,000 after acquiring an additional 110 shares during the period. Rehmann Capital Advisory Group increased its stake in shares of NetEase by 4.5% in the 2nd quarter. Rehmann Capital Advisory Group now owns 2,716 shares of the technology company's stock valued at $348,000 after purchasing an additional 117 shares in the last quarter. Finally, Arkadios Wealth Advisors increased its stake in shares of NetEase by 6.4% in the 1st quarter. Arkadios Wealth Advisors now owns 1,978 shares of the technology company's stock valued at $221,000 after purchasing an additional 119 shares in the last quarter. Institutional investors and hedge funds own 11.07% of the company's stock.

Analysts Set New Price Targets

NTES has been the topic of a number of recent analyst reports. Zacks Research downgraded NetEase from a "strong-buy" rating to a "hold" rating in a research report on Monday, July 27th. Morgan Stanley restated an "overweight" rating and issued a $163.00 price objective on shares of NetEase in a research report on Monday. The Goldman Sachs Group set a $169.00 price objective on NetEase in a research report on Wednesday, July 1st. BNP Paribas Exane started coverage on NetEase in a research note on Tuesday, September 22nd. They set an "outperform" rating and a $180.00 target price for the company. Finally, Sanford C. Bernstein reiterated an "outperform" rating and set a $160.00 target price on shares of NetEase in a research report on Friday, August 21st. Seven equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. According to MarketBeat, NetEase has an average rating of "Moderate Buy" and a consensus target price of $163.62.

Insider Transactions at NetEase

In other news, VP Aileen Mo sold 716 shares of the company's stock in a transaction 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 document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 54.70% of the stock is currently owned by company insiders.

NetEase Price Performance

Shares of NetEase stock opened at $121.04 on Tuesday. The stock has a market capitalization of $77.50 billion, a P/E ratio of 16.67, a PEG ratio of 1.34 and a beta of 0.72. The business has a 50 day simple moving average of $122.93 and a two-hundred day simple moving average of $120.57. NetEase, Inc. has a 12 month low of $106.06 and a 12 month high of $156.44.

NetEase Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 18th. Shareholders of record on Thursday, September 3rd were paid a dividend of $0.48 per share. This is a drop from NetEase's previous quarterly dividend of $0.72. The ex-dividend date of this dividend was Thursday, September 3rd. This represents a $1.92 annualized dividend and a yield of 1.6%. NetEase's dividend payout ratio is presently 26.31%.

NetEase Company 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.

Want to see what other hedge funds are holding NTES? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for NetEase, Inc. (NASDAQ:NTES - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.