Envestnet Asset Management Inc. Has $33.61 Million Stock Holdings in NetEase, Inc. $NTES

Envestnet Asset Management Inc. trimmed its holdings in shares of NetEase, Inc. (NASDAQ:NTESFree Report) by 16.4% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 221,115 shares of the technology company’s stock after selling 43,348 shares during the period. Envestnet Asset Management Inc.’s holdings in NetEase were worth $33,607,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently bought and sold shares of the company. NewSquare Capital LLC grew its stake in NetEase by 137.2% during the 2nd quarter. NewSquare Capital LLC now owns 185 shares of the technology company’s stock valued at $25,000 after acquiring an additional 107 shares in the last quarter. Private Trust Co. NA grew its position in NetEase by 266.0% during the second quarter. Private Trust Co. NA now owns 194 shares of the technology company’s stock valued at $26,000 after purchasing an additional 141 shares in the last quarter. Cornerstone Planning Group LLC purchased a new position in NetEase during the third quarter valued at approximately $33,000. Spire Wealth Management increased its stake in NetEase by 159.6% in the 2nd quarter. Spire Wealth Management now owns 257 shares of the technology company’s stock valued at $35,000 after buying an additional 158 shares during the period. Finally, Steigerwald Gordon & Koch Inc. purchased a new stake in NetEase in the 3rd quarter worth approximately $38,000. 11.07% of the stock is owned by hedge funds and other institutional investors.

NetEase Stock Performance

Shares of NTES stock opened at $118.50 on Thursday. The stock’s 50 day simple moving average is $135.41 and its 200 day simple moving average is $139.27. NetEase, Inc. has a twelve month low of $88.54 and a twelve month high of $159.55. The company has a market capitalization of $75.08 billion, a price-to-earnings ratio of 15.13, a PEG ratio of 1.38 and a beta of 0.71.

NetEase Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 27th. Investors of record on Monday, March 16th will be issued a dividend of $1.16 per share. The ex-dividend date of this dividend is Monday, March 16th. This represents a $4.64 annualized dividend and a dividend yield of 3.9%. This is an increase from NetEase’s previous quarterly dividend of $0.57. NetEase’s payout ratio is currently 28.99%.

NetEase News Summary

Here are the key news stories impacting NetEase this week:

Analyst Ratings Changes

NTES has been the topic of a number of research reports. Benchmark upped their price target on shares of NetEase from $145.00 to $158.00 and gave the stock a “buy” rating in a research note on Friday, November 21st. Wall Street Zen lowered NetEase from a “buy” rating to a “hold” rating in a research report on Sunday, November 23rd. Barclays set a $135.00 price target on NetEase and gave the stock an “equal weight” rating in a research note on Friday, November 21st. Citigroup reissued a “buy” rating on shares of NetEase in a research note on Wednesday. Finally, Sanford C. Bernstein set a $155.00 price objective on shares of NetEase in a research report on Friday, November 21st. Seven analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $156.13.

Get Our Latest Stock Report on NTES

NetEase Company Profile

(Free Report)

NetEase, Inc (NASDAQ: NTES) is a Chinese technology company headquartered in Hangzhou that develops and operates Internet services and products. Founded in 1997 by William Ding (Ding Lei), the company has grown from an early web portal and e-mail provider into a diversified online services group. William Ding has served as the company’s founder and long-time leader, guiding its expansion into games, digital content and consumer services.

The company’s primary business is interactive entertainment: NetEase Games designs, develops and publishes PC and mobile games for domestic and international audiences, offering a mix of self-developed franchises and titles published under licensing and strategic partnerships.

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Institutional Ownership by Quarter for NetEase (NASDAQ:NTES)

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