HighTower Advisors LLC Sells 152 Shares of NetEase, Inc. (NASDAQ:NTES)

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

Several other hedge funds have also recently added to or reduced their stakes in the business. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in NetEase by 13,747.9% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 6,258,442 shares of the technology company’s stock valued at $585,227,000 after purchasing an additional 6,213,248 shares in the last quarter. Hhlr Advisors LTD. grew its position in NetEase by 86.8% in the third quarter. Hhlr Advisors LTD. now owns 2,588,943 shares of the technology company’s stock valued at $242,092,000 after acquiring an additional 1,203,129 shares during the period. Massachusetts Financial Services Co. MA raised its stake in NetEase by 6.5% during the second quarter. Massachusetts Financial Services Co. MA now owns 1,692,705 shares of the technology company’s stock worth $161,789,000 after acquiring an additional 103,102 shares in the last quarter. Point72 Hong Kong Ltd lifted its holdings in shares of NetEase by 109.0% during the second quarter. Point72 Hong Kong Ltd now owns 1,213,323 shares of the technology company’s stock valued at $115,969,000 after acquiring an additional 632,896 shares during the period. Finally, Fisher Asset Management LLC boosted its stake in shares of NetEase by 7.8% in the 3rd quarter. Fisher Asset Management LLC now owns 1,145,657 shares of the technology company’s stock valued at $107,130,000 after purchasing an additional 82,474 shares in the last quarter. Institutional investors and hedge funds own 11.07% of the company’s stock.

NetEase Stock Performance

NASDAQ NTES opened at $92.09 on Monday. NetEase, Inc. has a 52 week low of $75.85 and a 52 week high of $114.50. The stock has a market capitalization of $59.14 billion, a P/E ratio of 15.56, a price-to-earnings-growth ratio of 3.53 and a beta of 0.57. The stock has a fifty day moving average of $85.66 and a 200-day moving average of $87.99.

NetEase Dividend Announcement

The company also recently disclosed 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. The ex-dividend date was Friday, November 29th. This represents a $1.74 annualized dividend and a yield of 1.89%. NetEase’s dividend payout ratio is currently 29.22%.

Analyst Upgrades and Downgrades

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

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.