NetEase, Inc. (NASDAQ:NTES) Holdings Decreased by HighTower Advisors LLC

HighTower Advisors LLC reduced its holdings in NetEase, Inc. (NASDAQ:NTES) by 3.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,928 shares of the technology company’s stock after selling 152 shares during the period. HighTower Advisors LLC’s holdings in NetEase were worth $364,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of NTES. SYSTM Wealth Solutions LLC lifted its position in shares of NetEase by 55.5% in the second quarter. SYSTM Wealth Solutions LLC now owns 328 shares of the technology company’s stock worth $31,000 after purchasing an additional 117 shares in the last quarter. Ariadne Wealth Management LP acquired a new position in NetEase in the 2nd quarter valued at approximately $35,000. Highline Wealth Partners LLC purchased a new stake in NetEase in the 3rd quarter worth approximately $45,000. RPg Family Wealth Advisory LLC acquired a new stake in shares of NetEase during the 3rd quarter valued at $70,000. Finally, Allspring Global Investments Holdings LLC purchased a new position in shares of NetEase during the 3rd quarter valued at $76,000. 11.07% of the stock is owned by hedge funds and other institutional investors.

NetEase Trading Up 0.3 %

Shares of NetEase stock opened at $92.09 on Monday. The firm has a fifty day simple moving average of $85.66 and a 200-day simple moving average of $87.99. The stock has a market capitalization of $59.14 billion, a price-to-earnings ratio of 15.56, a PEG ratio of 3.53 and a beta of 0.57. NetEase, Inc. has a 1-year low of $75.85 and a 1-year high of $114.50.

NetEase Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, December 13th. Shareholders of record on Friday, November 29th were issued a dividend of $0.435 per share. This represents a $1.74 dividend on an annualized basis and a yield of 1.89%. The ex-dividend date was Friday, November 29th. NetEase’s dividend payout ratio (DPR) is 29.22%.

Analyst Ratings Changes

Several analysts recently issued reports on the company. Citigroup increased their price objective on NetEase from $108.00 to $115.00 and gave the stock a “buy” rating in a report on Friday, November 15th. Benchmark cut their price target on NetEase from $120.00 to $105.00 and set a “buy” rating for the company in a research note on Friday, November 15th. Barclays lowered their price target on NetEase from $104.00 to $82.00 and set an “equal weight” rating for the company in a research note on Monday, August 26th. Finally, StockNews.com lowered shares of NetEase from a “strong-buy” rating to a “buy” rating in a research report on Friday, December 6th. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $107.29.

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.