SVB Wealth LLC Sells 1,172 Shares of NetEase, Inc. (NASDAQ:NTES)

SVB Wealth LLC cut its stake in NetEase, Inc. (NASDAQ:NTES) by 2.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 52,884 shares of the technology company’s stock after selling 1,172 shares during the quarter. SVB Wealth LLC’s holdings in NetEase were worth $4,927,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Private Trust Co. NA grew its stake in shares of NetEase by 418.9% in the fourth quarter. Private Trust Co. NA now owns 275 shares of the technology company’s stock worth $26,000 after acquiring an additional 222 shares during the period. Chilton Capital Management LLC bought a new stake in shares of NetEase in the fourth quarter worth approximately $37,000. Pinpoint Asset Management Ltd bought a new stake in shares of NetEase in the first quarter worth approximately $42,000. First Capital Advisors Group LLC. bought a new stake in shares of NetEase in the second quarter worth approximately $47,000. Finally, Headlands Technologies LLC bought a new stake in shares of NetEase in the third quarter worth approximately $56,000. 11.07% of the stock is currently owned by institutional investors.

NetEase Price Performance

Shares of NASDAQ:NTES opened at $90.42 on Wednesday. NetEase, Inc. has a 1-year low of $80.79 and a 1-year high of $118.89. The company has a market capitalization of $58.30 billion, a P/E ratio of 14.28, a P/E/G ratio of 0.84 and a beta of 0.58. The firm’s 50 day simple moving average is $104.38 and its two-hundred day simple moving average is $103.39.

NetEase (NASDAQ:NTES) last issued its quarterly earnings results on Thursday, February 29th. The technology company reported $1.42 earnings per share for the quarter, missing the consensus estimate of $1.62 by ($0.20). NetEase had a net margin of 28.39% and a return on equity of 24.36%. The firm had revenue of $3.82 billion for the quarter, compared to analysts’ expectations of $3.96 billion. On average, sell-side analysts anticipate that NetEase, Inc. will post 7.04 earnings per share for the current fiscal year.

NetEase Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Thursday, March 14th were issued a dividend of $1.08 per share. The ex-dividend date of this dividend was Wednesday, March 13th. This represents a $4.32 annualized dividend and a yield of 4.78%. This is an increase from NetEase’s previous quarterly dividend of $0.50. NetEase’s payout ratio is currently 68.09%.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on NTES shares. Morgan Stanley reduced their price target on shares of NetEase from $135.00 to $120.00 and set an “overweight” rating for the company in a research note on Friday, April 12th. StockNews.com upgraded shares of NetEase from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, March 26th. Six investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, NetEase presently has an average rating of “Buy” and an average target price of $126.00.

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.