SVB Wealth LLC Sells 2,232 Shares of NetEase, Inc. (NASDAQ:NTES)

SVB Wealth LLC reduced its position in NetEase, Inc. (NASDAQ:NTES) by 4.3% in the second quarter, HoldingsChannel.com reports. The firm owned 49,912 shares of the technology company’s stock after selling 2,232 shares during the period. SVB Wealth LLC’s holdings in NetEase were worth $4,771,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. National Bank of Canada FI boosted its stake in shares of NetEase by 5,735.2% in the second quarter. National Bank of Canada FI now owns 281,080 shares of the technology company’s stock worth $27,113,000 after acquiring an additional 276,263 shares during the period. Naviter Wealth LLC grew its holdings in NetEase by 22.2% during the 2nd quarter. Naviter Wealth LLC now owns 6,562 shares of the technology company’s stock valued at $627,000 after buying an additional 1,190 shares in the last quarter. Van ECK Associates Corp raised its position in shares of NetEase by 2.2% during the second quarter. Van ECK Associates Corp now owns 593,423 shares of the technology company’s stock valued at $56,719,000 after buying an additional 12,908 shares during the last quarter. Banque Cantonale Vaudoise lifted its holdings in shares of NetEase by 281.5% in the second quarter. Banque Cantonale Vaudoise now owns 16,093 shares of the technology company’s stock worth $1,538,000 after buying an additional 11,875 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of NetEase by 6.3% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,508 shares of the technology company’s stock worth $813,000 after acquiring an additional 506 shares during the last quarter. 11.07% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have issued reports on NTES shares. Benchmark lifted their price target on shares of NetEase from $144.00 to $145.00 and gave the company a “buy” rating in a report on Friday, May 24th. StockNews.com downgraded NetEase from a “strong-buy” rating to a “buy” rating in a research report on Saturday, July 20th. Morgan Stanley restated an “equal weight” rating and set a $100.00 price target on shares of NetEase in a report on Friday, July 5th. Jefferies Financial Group decreased their price objective on NetEase from $126.00 to $103.00 and set a “buy” rating on the stock in a report on Thursday, August 22nd. Finally, Bank of America cut their target price on shares of NetEase from $142.00 to $120.00 and set a “buy” rating for the company in a report on Friday, August 23rd. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $112.67.

NetEase Price Performance

NASDAQ:NTES opened at $77.58 on Friday. The firm has a market capitalization of $49.82 billion, a price-to-earnings ratio of 12.03, a PEG ratio of 1.61 and a beta of 0.54. The business has a 50 day simple moving average of $89.07 and a 200-day simple moving average of $95.28. NetEase, Inc. has a 1 year low of $77.19 and a 1 year high of $118.89.

NetEase (NASDAQ:NTES) last posted its quarterly earnings data on Thursday, August 22nd. The technology company reported $12.05 earnings per share for the quarter, beating analysts’ consensus estimates of $1.62 by $10.43. The business had revenue of $25.49 billion for the quarter, compared to analysts’ expectations of $26.01 billion. NetEase had a net margin of 26.98% and a return on equity of 22.30%. The business’s revenue was up 6.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.75 earnings per share. As a group, analysts expect that NetEase, Inc. will post 6.67 earnings per share for the current fiscal year.

NetEase Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 20th. Shareholders of record on Friday, September 6th will be paid a $0.435 dividend. This represents a $1.74 annualized dividend and a yield of 2.24%. The ex-dividend date of this dividend is Friday, September 6th. NetEase’s payout ratio is currently 26.82%.

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.