LPL Financial LLC Has $2.26 Million Stock Position in NetEase, Inc. $NTES

LPL Financial LLC lessened its stake in NetEase, Inc. (NASDAQ:NTES) by 7.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 21,936 shares of the technology company’s stock after selling 1,752 shares during the quarter. LPL Financial LLC’s holdings in NetEase were worth $2,258,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in NTES. Capital World Investors raised its holdings in shares of NetEase by 40.6% in the 4th quarter. Capital World Investors now owns 3,725,046 shares of the technology company’s stock valued at $332,311,000 after purchasing an additional 1,074,818 shares during the period. Lazard Asset Management LLC grew its holdings in NetEase by 2.0% during the fourth quarter. Lazard Asset Management LLC now owns 3,599,794 shares of the technology company’s stock worth $321,137,000 after purchasing an additional 69,789 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its position in NetEase by 7,698.2% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,817,021 shares of the technology company’s stock worth $289,928,000 after buying an additional 2,780,897 shares during the last quarter. Price T Rowe Associates Inc. MD raised its stake in NetEase by 11.8% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,280,643 shares of the technology company’s stock valued at $114,247,000 after buying an additional 135,180 shares during the period. Finally, Dimensional Fund Advisors LP lifted its position in shares of NetEase by 11.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 715,882 shares of the technology company’s stock valued at $63,874,000 after buying an additional 73,349 shares during the last quarter. 11.07% of the stock is owned by institutional investors.

NetEase Stock Performance

Shares of NetEase stock opened at $130.30 on Tuesday. NetEase, Inc. has a 52-week low of $75.85 and a 52-week high of $141.45. The stock has a market cap of $82.56 billion, a PE ratio of 17.63, a PEG ratio of 4.48 and a beta of 0.67. The firm has a 50-day moving average of $132.01 and a 200-day moving average of $115.24.

NetEase Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 11th. Stockholders of record on Thursday, August 28th will be issued a dividend of $0.675 per share. The ex-dividend date of this dividend is Thursday, August 28th. This represents a $2.70 annualized dividend and a dividend yield of 2.1%. NetEase’s dividend payout ratio (DPR) is currently 36.40%.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the company. Deutsche Bank Aktiengesellschaft assumed coverage on NetEase in a report on Monday, May 12th. They set a “buy” rating and a $130.00 target price on the stock. JPMorgan Chase & Co. downgraded shares of NetEase from an “overweight” rating to a “neutral” rating and upped their price objective for the company from $135.00 to $140.00 in a report on Monday, July 28th. Barclays set a $120.00 price objective on shares of NetEase and gave the company an “equal weight” rating in a research report on Monday. Finally, Wall Street Zen downgraded shares of NetEase from a “strong-buy” rating to a “buy” rating in a report on Saturday. Two research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $120.25.

About NetEase

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.