NetEase, Inc. $NTES Shares Sold by SVB Wealth LLC

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 stake 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 firm 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.

Other large investors have also recently added to or reduced their stakes in the company. Mather Group LLC. increased its stake in NetEase by 1,415.0% during the 1st quarter. Mather Group LLC. now owns 303 shares of the technology company's stock worth $31,000 after buying an additional 283 shares during the period. TD Private Client Wealth LLC purchased a new stake in NetEase during the 1st quarter worth approximately $65,000. Farther Finance Advisors LLC increased its stake in NetEase by 191.7% during the 1st quarter. Farther Finance Advisors LLC now owns 986 shares of the technology company's stock worth $105,000 after buying an additional 648 shares during the period. Allianz SE purchased a new stake in NetEase during the 1st quarter worth approximately $110,000. Finally, Greykasell Wealth Strategies Inc. purchased a new stake in NetEase during the 1st quarter worth approximately $144,000. 11.07% of the stock is owned by hedge funds and other institutional investors.

NetEase Price Performance

Shares of NetEase stock traded down $1.98 during trading hours on Wednesday, hitting $135.07. The company had a trading volume of 651,001 shares, compared to its average volume of 1,222,008. The company's 50-day moving average is $132.17 and its two-hundred day moving average is $116.39. NetEase, Inc. has a twelve month low of $75.85 and a twelve month high of $141.45. The company has a market cap of $85.58 billion, a P/E ratio of 18.28, a price-to-earnings-growth ratio of 1.79 and a beta of 0.67.

NetEase Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 11th. Stockholders of record on Thursday, August 28th will be issued a $0.675 dividend. The ex-dividend date is Thursday, August 28th. This represents a $2.70 annualized dividend and a dividend yield of 2.0%. NetEase's dividend payout ratio is presently 30.72%.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the stock. Wall Street Zen downgraded shares of NetEase from a "strong-buy" rating to a "buy" rating in a research note on Saturday, August 16th. Barclays set a $120.00 target price on shares of NetEase and gave the stock an "equal weight" rating in a research note on Monday, August 18th. Deutsche Bank Aktiengesellschaft started coverage on shares of NetEase in a report on Monday, May 12th. They set a "buy" rating and a $130.00 price target for the company. Zacks Research cut shares of NetEase from a "strong-buy" rating to a "hold" rating in a report on Friday, August 15th. Finally, JPMorgan Chase & Co. cut shares of NetEase from an "overweight" rating to a "neutral" rating and boosted their price target for the stock from $135.00 to $140.00 in a report on Monday, July 28th. Five analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $122.71.

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.