NetEase, Inc. $NTES Stock Holdings Lifted by NewEdge Wealth LLC

Key Points

• NewEdge Wealth LLC boosted its NetEase stake by 114.3% in the first quarter, ending with 48,068 shares valued at about $5.38 million.
• Several other institutional investors also increased or initiated positions in NTES, and 11.07% of the stock is now owned by hedge funds and other institutions.
• NetEase paid a quarterly dividend of $0.72 per share, but the company also saw an insider sale by General Counsel Paul William Boltz, Jr., who sold 10,000 shares at $128.30 each.

NewEdge Wealth LLC grew its position in NetEase, Inc. (NASDAQ:NTES - Free Report) by 114.3% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 48,068 shares of the technology company's stock after purchasing an additional 25,634 shares during the period. NewEdge Wealth LLC's holdings in NetEase were worth $5,381,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in NTES. Range Financial Group LLC purchased a new position in NetEase during the fourth quarter valued at $1,759,000. Mitsubishi UFJ Trust & Banking Corp lifted its stake in NetEase by 22.1% in the 4th quarter. Mitsubishi UFJ Trust & Banking Corp now owns 67,211 shares of the technology company's stock worth $9,250,000 after purchasing an additional 12,173 shares in the last quarter. Institute for Wealth Management LLC. purchased a new stake in NetEase in the 4th quarter worth $3,491,000. Ninety One North America Inc. boosted its holdings in shares of NetEase by 3.4% during the 4th quarter. Ninety One North America Inc. now owns 500,241 shares of the technology company's stock valued at $68,843,000 after purchasing an additional 16,496 shares during the last quarter. Finally, Assetmark Inc. boosted its holdings in shares of NetEase by 169.5% during the 4th quarter. Assetmark Inc. now owns 130,869 shares of the technology company's stock valued at $18,010,000 after purchasing an additional 82,312 shares during the last quarter. 11.07% of the stock is owned by hedge funds and other institutional investors.

NetEase Stock Performance

NASDAQ NTES opened at $120.18 on Friday. The company has a market cap of $76.73 billion, a PE ratio of 15.96, a P/E/G ratio of 1.57 and a beta of 0.72. The firm's 50 day moving average price is $123.84 and its 200-day moving average price is $121.91. NetEase, Inc. has a 52-week low of $106.06 and a 52-week high of $159.55.

NetEase Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 18th. Investors of record on Friday, June 5th were paid a dividend of $0.72 per share. This represents a $2.88 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date was Friday, June 5th. NetEase's dividend payout ratio is 38.11%.

Insiders Place Their Bets

In other NetEase news, General Counsel Paul William Boltz, Jr. sold 10,000 shares of the business's stock in a transaction dated Monday, June 29th. The shares were sold at an average price of $128.30, for a total value of $1,283,000.00. Following the completion of the transaction, the general counsel directly owned 12,223 shares in the company, valued at approximately $1,568,210.90. The trade was a 45.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 54.70% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of equities research analysts recently commented on NTES shares. Morgan Stanley reiterated an "overweight" rating and issued a $158.00 target price on shares of NetEase in a research report on Tuesday, May 26th. Weiss Ratings raised NetEase from a "hold (c)" rating to a "hold (c+)" rating in a report on Monday. Wall Street Zen lowered shares of NetEase from a "buy" rating to a "hold" rating in a report on Monday, July 6th. Benchmark reaffirmed a "buy" rating on shares of NetEase in a research note on Friday, May 22nd. Finally, The Goldman Sachs Group set a $169.00 price objective on shares of NetEase in a research report on Wednesday, July 1st. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, NetEase presently has a consensus rating of "Moderate Buy" and an average target price of $158.38.

About NetEase

NetEase, Inc NASDAQ: NTES is a Chinese technology company headquartered in Hangzhou that develops and operates Internet services and products. Founded in 1997 by William Ding (Ding Lei), the company has grown from an early web portal and e-mail provider into a diversified online services group. William Ding has served as the company's founder and long-time leader, guiding its expansion into games, digital content and consumer services.

The company's primary business is interactive entertainment: NetEase Games designs, develops and publishes PC and mobile games for domestic and international audiences, offering a mix of self-developed franchises and titles published under licensing and strategic partnerships.

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