UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Cuts Holdings in NetEase, Inc. $NTES

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC trimmed its holdings in shares of NetEase, Inc. (NASDAQ:NTES) by 4.8% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 8,144,927 shares of the technology company’s stock after selling 406,190 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in NetEase were worth $1,120,905,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of NTES. Brighton Jones LLC boosted its stake in shares of NetEase by 1.1% in the 4th quarter. Brighton Jones LLC now owns 10,297 shares of the technology company’s stock worth $919,000 after buying an additional 117 shares during the last quarter. Strs Ohio purchased a new stake in NetEase in the first quarter worth about $63,000. EverSource Wealth Advisors LLC boosted its stake in shares of NetEase by 106.9% in the second quarter. EverSource Wealth Advisors LLC now owns 542 shares of the technology company’s stock worth $73,000 after acquiring an additional 280 shares during the period. First Trust Advisors LP boosted its stake in shares of NetEase by 287.4% in the second quarter. First Trust Advisors LP now owns 91,571 shares of the technology company’s stock worth $12,324,000 after acquiring an additional 67,934 shares during the period. Finally, Walleye Capital LLC boosted its stake in shares of NetEase by 670.9% in the second quarter. Walleye Capital LLC now owns 5,265 shares of the technology company’s stock worth $709,000 after acquiring an additional 4,582 shares during the period. 11.07% of the stock is currently owned by hedge funds and other institutional investors.

NetEase Trading Up 0.2%

Shares of NTES stock opened at $125.82 on Friday. NetEase, Inc. has a 12-month low of $106.06 and a 12-month high of $159.55. The stock’s 50-day moving average price is $117.11 and its 200-day moving average price is $124.50. The stock has a market capitalization of $80.33 billion, a price-to-earnings ratio of 16.71, a price-to-earnings-growth ratio of 1.63 and a beta of 0.72.

NetEase Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 18th. Stockholders of record on Friday, June 5th will be issued a $0.72 dividend. This represents a $2.88 annualized dividend and a dividend yield of 2.3%. The ex-dividend date of this dividend is Friday, June 5th. NetEase’s payout ratio is 38.11%.

Analysts Set New Price Targets

NTES has been the subject of a number of recent analyst reports. Benchmark reaffirmed a “buy” rating on shares of NetEase in a research note on Friday, May 22nd. Zacks Research raised NetEase from a “hold” rating to a “strong-buy” rating in a research note on Monday, June 8th. Wall Street Zen raised NetEase from a “hold” rating to a “buy” rating in a research note on Saturday, May 23rd. Morgan Stanley reaffirmed an “overweight” rating and issued a $158.00 price objective on shares of NetEase in a research note on Tuesday, May 26th. Finally, Nomura dropped their price objective on NetEase from $160.00 to $155.00 and set a “buy” rating for the company in a research note on Friday, February 13th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $157.38.

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.