Park Avenue Securities LLC Sells 6,266 Shares of NetEase, Inc. $NTES

Park Avenue Securities LLC trimmed its position in shares of NetEase, Inc. (NASDAQ:NTES) by 69.4% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,759 shares of the technology company’s stock after selling 6,266 shares during the period. Park Avenue Securities LLC’s holdings in NetEase were worth $380,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Ameritas Advisory Services LLC grew its stake in shares of NetEase by 125.8% during the third quarter. Ameritas Advisory Services LLC now owns 8,285 shares of the technology company’s stock valued at $1,259,000 after buying an additional 4,616 shares during the last quarter. Ninety One UK Ltd lifted its stake in shares of NetEase by 0.5% during the 3rd quarter. Ninety One UK Ltd now owns 6,296,150 shares of the technology company’s stock worth $956,952,000 after acquiring an additional 28,381 shares during the last quarter. Renaissance Group LLC bought a new stake in shares of NetEase during the 3rd quarter worth approximately $6,177,000. American Century Companies Inc. boosted its holdings in NetEase by 7.3% during the 3rd quarter. American Century Companies Inc. now owns 803,379 shares of the technology company’s stock valued at $122,106,000 after acquiring an additional 54,929 shares during the period. Finally, Crossmark Global Holdings Inc. boosted its holdings in NetEase by 313.0% during the 3rd quarter. Crossmark Global Holdings Inc. now owns 123,284 shares of the technology company’s stock valued at $18,738,000 after acquiring an additional 93,430 shares during the period. 11.07% of the stock is owned by hedge funds and other institutional investors.

NetEase Price Performance

Shares of NASDAQ NTES opened at $109.26 on Monday. NetEase, Inc. has a twelve month low of $88.54 and a twelve month high of $159.55. The firm has a market cap of $69.23 billion, a PE ratio of 14.89, a price-to-earnings-growth ratio of 1.39 and a beta of 0.74. The business has a fifty day simple moving average of $120.84 and a two-hundred day simple moving average of $135.48.

NetEase Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 27th. Shareholders of record on Monday, March 16th were issued a dividend of $1.16 per share. This represents a $4.64 annualized dividend and a yield of 4.2%. The ex-dividend date was Monday, March 16th. This is a positive change from NetEase’s previous quarterly dividend of $0.57. NetEase’s dividend payout ratio (DPR) is currently 63.08%.

Analysts Set New Price Targets

A number of analysts have weighed in on the company. Weiss Ratings reiterated a “hold (c)” rating on shares of NetEase in a research note on Monday, December 22nd. Nomura lowered their target price on shares of NetEase from $160.00 to $155.00 and set a “buy” rating for the company in a research note on Friday, February 13th. Citigroup restated a “buy” rating on shares of NetEase in a report on Wednesday, February 11th. Benchmark reaffirmed a “buy” rating on shares of NetEase in a research note on Thursday, February 12th. Finally, Barclays decreased their price objective on shares of NetEase from $135.00 to $132.00 and set an “equal weight” rating for the company in a report on Thursday, February 12th. Eight research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat.com, NetEase has an average rating of “Moderate Buy” and an average price target of $153.89.

NetEase Profile

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.