Janney Montgomery Scott LLC Sells 141,008 Shares of NetEase, Inc. (NASDAQ:NTES)

Janney Montgomery Scott LLC lowered its holdings in NetEase, Inc. (NASDAQ:NTES) by 90.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 14,279 shares of the technology company’s stock after selling 141,008 shares during the period. Janney Montgomery Scott LLC’s holdings in NetEase were worth $1,274,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Cetera Investment Advisers boosted its holdings in shares of NetEase by 56.8% in the 2nd quarter. Cetera Investment Advisers now owns 17,123 shares of the technology company’s stock valued at $1,637,000 after buying an additional 6,203 shares during the last quarter. Sanctuary Advisors LLC acquired a new stake in NetEase in the second quarter valued at $1,204,000. Guinness Asset Management LTD grew its position in shares of NetEase by 16.7% in the 3rd quarter. Guinness Asset Management LTD now owns 86,741 shares of the technology company’s stock valued at $8,111,000 after acquiring an additional 12,410 shares during the period. Exchange Traded Concepts LLC increased its stake in shares of NetEase by 1.7% during the 3rd quarter. Exchange Traded Concepts LLC now owns 47,245 shares of the technology company’s stock worth $4,418,000 after purchasing an additional 776 shares during the last quarter. Finally, Willner & Heller LLC raised its holdings in shares of NetEase by 10.2% in the 3rd quarter. Willner & Heller LLC now owns 3,952 shares of the technology company’s stock valued at $370,000 after purchasing an additional 365 shares during the period. 11.07% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

NTES has been the subject of a number of research analyst reports. Citigroup boosted their price target on NetEase from $108.00 to $115.00 and gave the stock a “buy” rating in a research report on Friday, November 15th. Benchmark reduced their target price on NetEase from $120.00 to $105.00 and set a “buy” rating for the company in a research note on Friday, November 15th. Bank of America increased their price target on NetEase from $120.00 to $122.00 and gave the company a “buy” rating in a research note on Wednesday, January 15th. StockNews.com cut shares of NetEase from a “strong-buy” rating to a “buy” rating in a research report on Friday, December 6th. Finally, Morgan Stanley raised shares of NetEase from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $90.00 to $108.00 in a research report on Wednesday, January 8th. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, NetEase presently has an average rating of “Moderate Buy” and an average price target of $108.71.

NetEase Stock Performance

NASDAQ:NTES opened at $101.21 on Wednesday. NetEase, Inc. has a 52 week low of $75.85 and a 52 week high of $114.50. The firm has a 50-day moving average price of $94.35 and a two-hundred day moving average price of $88.55. The firm has a market cap of $64.99 billion, a price-to-earnings ratio of 17.10, a price-to-earnings-growth ratio of 3.44 and a beta of 0.58.

NetEase Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, December 13th. Stockholders of record on Friday, November 29th were paid a $0.435 dividend. The ex-dividend date of this dividend was Friday, November 29th. This represents a $1.74 annualized dividend and a dividend yield of 1.72%. NetEase’s payout ratio is 29.22%.

NetEase Company 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.