SVB Wealth LLC Has $4.93 Million Position in NetEase, Inc. (NASDAQ:NTES)

SVB Wealth LLC reduced its holdings in NetEase, Inc. (NASDAQ:NTES) by 2.2% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 52,884 shares of the technology company’s stock after selling 1,172 shares during the quarter. SVB Wealth LLC’s holdings in NetEase were worth $4,927,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently made changes to their positions in NTES. Commonwealth Equity Services LLC increased its stake in NetEase by 2.1% during the second quarter. Commonwealth Equity Services LLC now owns 5,290 shares of the technology company’s stock valued at $512,000 after acquiring an additional 109 shares during the period. Financial Counselors Inc. increased its stake in NetEase by 4.1% during the fourth quarter. Financial Counselors Inc. now owns 3,195 shares of the technology company’s stock valued at $298,000 after acquiring an additional 125 shares during the period. Sequoia Financial Advisors LLC increased its stake in NetEase by 5.8% during the fourth quarter. Sequoia Financial Advisors LLC now owns 2,588 shares of the technology company’s stock valued at $241,000 after acquiring an additional 143 shares during the period. Huntington National Bank increased its stake in NetEase by 31.4% during the third quarter. Huntington National Bank now owns 678 shares of the technology company’s stock valued at $68,000 after acquiring an additional 162 shares during the period. Finally, Panagora Asset Management Inc. increased its stake in NetEase by 1.5% during the third quarter. Panagora Asset Management Inc. now owns 12,201 shares of the technology company’s stock valued at $1,222,000 after acquiring an additional 178 shares during the period. 11.07% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Morgan Stanley lowered their price target on NetEase from $135.00 to $120.00 and set an “overweight” rating on the stock in a research note on Friday, April 12th. StockNews.com upgraded NetEase from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, March 26th. Six research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $126.00.

NetEase Trading Down 1.9 %

NTES stock opened at $90.42 on Wednesday. The firm has a market cap of $58.30 billion, a P/E ratio of 14.28, a P/E/G ratio of 0.84 and a beta of 0.58. NetEase, Inc. has a 1-year low of $80.79 and a 1-year high of $118.89. The business’s 50 day moving average is $104.38 and its 200-day moving average is $103.39.

NetEase (NASDAQ:NTES) last announced its earnings results on Thursday, February 29th. The technology company reported $1.42 EPS for the quarter, missing the consensus estimate of $1.62 by ($0.20). The business had revenue of $3.82 billion during the quarter, compared to analyst estimates of $3.96 billion. NetEase had a return on equity of 24.36% and a net margin of 28.39%. Sell-side analysts forecast that NetEase, Inc. will post 7.04 EPS for the current year.

NetEase Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Thursday, March 14th were issued a $1.08 dividend. This is an increase from NetEase’s previous quarterly dividend of $0.50. This represents a $4.32 annualized dividend and a dividend yield of 4.78%. The ex-dividend date of this dividend was Wednesday, March 13th. NetEase’s payout ratio is presently 68.09%.

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.