NetEase, Inc. $NTES Shares Sold by Wealth Enhancement Advisory Services LLC

Wealth Enhancement Advisory Services LLC reduced its position in shares of NetEase, Inc. (NASDAQ:NTES) by 5.5% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 7,506 shares of the technology company’s stock after selling 440 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in NetEase were worth $997,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of NTES. Kayne Anderson Rudnick Investment Management LLC acquired a new position in shares of NetEase in the 1st quarter valued at $26,000. Mather Group LLC. boosted its position in shares of NetEase by 1,415.0% in the 1st quarter. Mather Group LLC. now owns 303 shares of the technology company’s stock valued at $31,000 after purchasing an additional 283 shares during the period. Reyes Financial Architecture Inc. boosted its position in shares of NetEase by 1,189.5% in the 2nd quarter. Reyes Financial Architecture Inc. now owns 245 shares of the technology company’s stock valued at $33,000 after purchasing an additional 226 shares during the period. Strs Ohio acquired a new position in shares of NetEase in the 1st quarter valued at $63,000. Finally, TD Private Client Wealth LLC acquired a new position in shares of NetEase in the 1st quarter valued at $65,000. 11.07% of the stock is owned by institutional investors and hedge funds.

NetEase Price Performance

NTES opened at $150.02 on Thursday. NetEase, Inc. has a fifty-two week low of $75.88 and a fifty-two week high of $159.55. The business has a 50-day moving average of $139.16 and a 200-day moving average of $124.11. The company has a market capitalization of $95.05 billion, a PE ratio of 20.30, a price-to-earnings-growth ratio of 2.03 and a beta of 0.67.

NetEase Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 11th. Investors of record on Thursday, August 28th were paid a $0.675 dividend. This represents a $2.70 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date of this dividend was Thursday, August 28th. NetEase’s dividend payout ratio (DPR) is presently 30.72%.

Analysts Set New Price Targets

A number of research firms recently weighed in on NTES. Arete upgraded NetEase from a “sell” rating to a “buy” rating and set a $150.00 price target for the company in a research report on Wednesday, September 3rd. Arete Research upgraded NetEase to a “strong-buy” rating in a research report on Wednesday, September 3rd. Zacks Research lowered NetEase from a “strong-buy” rating to a “hold” rating in a research report on Friday, August 15th. JPMorgan Chase & Co. lowered NetEase from an “overweight” rating to a “neutral” rating and raised their price objective for the stock from $135.00 to $140.00 in a research report on Monday, July 28th. Finally, Barclays set a $120.00 price objective on NetEase and gave the stock an “equal weight” rating in a research report on Monday, August 18th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $132.00.

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.