Private Advisor Group LLC Decreases Position in NetEase, Inc. $NTES

Key Points

• Private Advisor Group LLC cut its NetEase stake by 79.8% in the first quarter, leaving it with 6,196 shares valued at about $694,000.
• Analyst sentiment remains constructive: NetEase has a Moderate Buy consensus rating, with an average price target of $158.38.
• NetEase shares were up 1.1% to $129.76, while the company also paid a quarterly dividend of $0.72 per share, equal to a 2.2% annualized yield.

Private Advisor Group LLC lessened its position in NetEase, Inc. (NASDAQ:NTES - Free Report) by 79.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 6,196 shares of the technology company's stock after selling 24,513 shares during the period. Private Advisor Group LLC's holdings in NetEase were worth $694,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the company. Atlas Capital Advisors Inc. bought a new position in NetEase in the 4th quarter valued at approximately $47,000. Harbour Investments Inc. increased its holdings in shares of NetEase by 7,480.0% in the 4th quarter. Harbour Investments Inc. now owns 379 shares of the technology company's stock worth $52,000 after purchasing an additional 374 shares in the last quarter. Smartleaf Asset Management LLC increased its holdings in shares of NetEase by 3,381.8% in the 2nd quarter. Smartleaf Asset Management LLC now owns 383 shares of the technology company's stock worth $51,000 after purchasing an additional 372 shares in the last quarter. MidFirst Bank purchased a new position in shares of NetEase in the fourth quarter worth $57,000. Finally, Brown Brothers Harriman & Co. raised its stake in shares of NetEase by 479.7% in the third quarter. Brown Brothers Harriman & Co. now owns 429 shares of the technology company's stock worth $65,000 after purchasing an additional 355 shares during the last quarter. Hedge funds and other institutional investors own 11.07% of the company's stock.

Analyst Ratings Changes

Several equities research analysts recently commented on the company. Morgan Stanley reissued an "overweight" rating and issued a $158.00 target price on shares of NetEase in a research report on Tuesday, May 26th. Zacks Research raised shares of NetEase from a "hold" rating to a "strong-buy" rating in a report on Monday, June 8th. Benchmark reiterated a "buy" rating on shares of NetEase in a research note on Friday, May 22nd. Weiss Ratings reissued a "hold (c)" rating on shares of NetEase in a report on Thursday, June 18th. 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 assigned a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $158.38.

NetEase Trading Up 1.1%

NTES opened at $129.76 on Thursday. NetEase, Inc. has a 1-year low of $106.06 and a 1-year high of $159.55. The company has a market capitalization of $82.84 billion, a PE ratio of 17.23, a PEG ratio of 1.66 and a beta of 0.72. The firm's 50 day simple moving average is $122.56 and its two-hundred day simple moving average is $122.43.

NetEase Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, June 18th. Stockholders of record on Friday, June 5th were given a dividend of $0.72 per share. The ex-dividend date of this dividend was Friday, June 5th. This represents a $2.88 dividend on an annualized basis and a dividend yield of 2.2%. NetEase's dividend payout ratio is presently 38.11%.

Insider Activity

In other news, General Counsel Paul William Boltz, Jr. sold 10,000 shares of the firm's stock in a transaction on Monday, June 29th. The stock was sold at an average price of $128.30, for a total transaction of $1,283,000.00. Following the transaction, the general counsel owned 12,223 shares in the company, valued at approximately $1,568,210.90. This trade represents a 45.00% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 54.70% of the company's stock.

NetEase Company 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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