SVB Wealth LLC Has $3.13 Million Holdings in NetEase, Inc. $NTES

Key Points

• SVB Wealth LLC reduced its holdings in NetEase, Inc. by 29.0%, bringing its ownership to 30,380 shares, valued at approximately $3.1 million.
• NetEase declared a quarterly dividend of $0.675, with an annualized yield of 2.0%, and a payout ratio of 36.40%.
• Analysts' ratings for NetEase vary, with Zacks Research downgrading the stock from "strong-buy" to "hold" while others, like Deutsche Bank, maintain a "buy" rating and set a target price of $130.00.

SVB Wealth LLC trimmed its position in NetEase, Inc. (NASDAQ:NTES - Free Report) by 29.0% during the first quarter, according to its most recent 13F filing with the SEC. The fund owned 30,380 shares of the technology company's stock after selling 12,411 shares during the period. SVB Wealth LLC's holdings in NetEase were worth $3,127,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of NTES. Mather Group LLC. boosted its position in NetEase by 1,415.0% in the 1st quarter. Mather Group LLC. now owns 303 shares of the technology company's stock valued at $31,000 after buying an additional 283 shares during the last quarter. TD Private Client Wealth LLC bought a new position in NetEase in the 1st quarter valued at $65,000. Farther Finance Advisors LLC boosted its position in shares of NetEase by 191.7% in the 1st quarter. Farther Finance Advisors LLC now owns 986 shares of the technology company's stock worth $105,000 after purchasing an additional 648 shares during the last quarter. Allianz SE bought a new position in shares of NetEase in the 1st quarter worth $110,000. Finally, Greykasell Wealth Strategies Inc. bought a new position in shares of NetEase in the 1st quarter worth $144,000. 11.07% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on NTES shares. Barclays set a $120.00 price target on NetEase and gave the stock an "equal weight" rating in a research report on Monday, August 18th. JPMorgan Chase & Co. lowered NetEase from an "overweight" rating to a "neutral" rating and raised their price target for the stock from $135.00 to $140.00 in a research report on Monday, July 28th. Deutsche Bank Aktiengesellschaft assumed coverage on NetEase in a report on Monday, May 12th. They set a "buy" rating and a $130.00 target price on the stock. Wall Street Zen lowered NetEase from a "strong-buy" rating to a "buy" rating in a report on Saturday, August 16th. Finally, Zacks Research lowered NetEase from a "strong-buy" rating to a "hold" rating in a report on Friday, August 15th. Five investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $122.71.

NetEase Price Performance

Shares of NTES traded up $3.03 during midday trading on Thursday, hitting $137.53. The stock had a trading volume of 315,147 shares, compared to its average volume of 1,216,406. The company has a 50 day simple moving average of $132.30 and a two-hundred day simple moving average of $116.52. NetEase, Inc. has a twelve month low of $75.85 and a twelve month high of $141.45. The firm has a market cap of $87.13 billion, a price-to-earnings ratio of 18.61, a price-to-earnings-growth ratio of 1.81 and a beta of 0.67.

NetEase Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 11th. Investors of record on Thursday, August 28th will be given a $0.675 dividend. The ex-dividend date of this dividend is Thursday, August 28th. This represents a $2.70 dividend on an annualized basis and a dividend yield of 2.0%. NetEase's payout ratio is currently 36.40%.

NetEase 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.