Neuberger Berman Group LLC Sells 19,698 Shares of NetEase, Inc. $NTES

Key Points

• Neuberger Berman Group LLC reduced its NetEase stake by 21.1% in Q3, selling 19,698 shares and now holding 73,470 shares valued at about $11.17 million.
• NetEase raised its quarterly dividend to $1.16 from $0.57 (annualized $4.64), implying a yield of 3.9%; the record date is Mar 16 and the payment date is Mar 27.
• NTES trades with a market cap of $74.65 billion and a P/E of 16.05, and has a MarketBeat consensus rating of "Moderate Buy" with a $153.89 price target (8 Buy, 3 Hold).

Neuberger Berman Group LLC reduced its stake in NetEase, Inc. (NASDAQ:NTES - Free Report) by 21.1% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 73,470 shares of the technology company's stock after selling 19,698 shares during the period. Neuberger Berman Group LLC's holdings in NetEase were worth $11,167,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Cornerstone Planning Group LLC acquired a new position in shares of NetEase during the 3rd quarter worth about $33,000. Steigerwald Gordon & Koch Inc. bought a new position in NetEase during the 3rd quarter worth approximately $38,000. First Horizon Corp acquired a new position in NetEase during the third quarter valued at approximately $45,000. Mather Group LLC. acquired a new position in NetEase during the third quarter valued at approximately $46,000. Finally, Spire Wealth Management increased its stake in NetEase by 29.2% in the third quarter. Spire Wealth Management now owns 332 shares of the technology company's stock valued at $50,000 after purchasing an additional 75 shares in the last quarter. Institutional investors own 11.07% of the company's stock.

NetEase Stock Performance

Shares of NTES stock opened at $117.82 on Friday. NetEase, Inc. has a 52-week low of $88.54 and a 52-week high of $159.55. The stock has a market cap of $74.65 billion, a price-to-earnings ratio of 16.05, a PEG ratio of 1.50 and a beta of 0.74. The firm's 50-day moving average is $128.64 and its 200-day moving average is $137.72.

NetEase Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 27th. Shareholders of record on Monday, March 16th will be paid a $1.16 dividend. This is a positive change from NetEase's previous quarterly dividend of $0.57. This represents a $4.64 annualized dividend and a yield of 3.9%. The ex-dividend date is Monday, March 16th. NetEase's dividend payout ratio is currently 30.93%.

Analyst Ratings Changes

NTES has been the subject of several research analyst reports. Sanford C. Bernstein set a $155.00 price target on shares of NetEase in a report on Friday, November 21st. Wall Street Zen downgraded NetEase from a "buy" rating to a "hold" rating in a report on Sunday, November 23rd. Nomura dropped their target price on shares of NetEase from $160.00 to $155.00 and set a "buy" rating on the stock in a report on Friday, February 13th. Weiss Ratings reissued a "hold (c)" rating on shares of NetEase in a research note on Monday, December 22nd. Finally, Barclays lowered their price objective on shares of NetEase from $135.00 to $132.00 and set an "equal weight" rating on the stock in a report on Thursday, February 12th. Eight analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, NetEase has a consensus rating of "Moderate Buy" and a consensus price target of $153.89.

NetEase Profile

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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