Corient Private Wealth LLC Trims Stock Holdings in NetEase, Inc. $NTES

Corient Private Wealth LLC decreased its position in NetEase, Inc. (NASDAQ:NTES) by 7.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 108,100 shares of the technology company’s stock after selling 8,613 shares during the quarter. Corient Private Wealth LLC’s holdings in NetEase were worth $14,877,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Atlas Capital Advisors Inc. purchased a new stake in shares of NetEase in the 4th quarter worth about $47,000. Smartleaf Asset Management LLC increased its stake in shares of NetEase by 3,381.8% in the 2nd quarter. Smartleaf Asset Management LLC now owns 383 shares of the technology company’s stock worth $51,000 after acquiring an additional 372 shares in the last quarter. Harbour Investments Inc. lifted its position in NetEase by 7,480.0% during the 4th quarter. Harbour Investments Inc. now owns 379 shares of the technology company’s stock valued at $52,000 after acquiring an additional 374 shares during the period. MidFirst Bank purchased a new position in NetEase during the 4th quarter valued at about $57,000. Finally, Spire Wealth Management boosted its stake in NetEase by 31.3% during the fourth quarter. Spire Wealth Management now owns 436 shares of the technology company’s stock worth $60,000 after acquiring an additional 104 shares in the last quarter. Hedge funds and other institutional investors own 11.07% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the stock. Morgan Stanley restated an “overweight” rating and issued a $158.00 price objective on shares of NetEase in a report on Tuesday, May 26th. Zacks Research upgraded shares of NetEase from a “hold” rating to a “strong-buy” rating in a report on Monday, June 8th. Wall Street Zen cut NetEase from a “buy” rating to a “hold” rating in a research report on Saturday. Finally, Benchmark restated a “buy” rating on shares of NetEase in a research note on Friday, May 22nd. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $157.38.

NetEase Price Performance

NTES opened at $119.25 on Wednesday. The stock has a 50-day moving average price of $118.34 and a 200-day moving average price of $123.49. The firm has a market cap of $76.13 billion, a PE ratio of 15.84, a P/E/G ratio of 1.57 and a beta of 0.72. NetEase, Inc. has a 1 year low of $106.06 and a 1 year high of $159.55.

NetEase Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 18th. Shareholders of record on Friday, June 5th were paid a dividend of $0.72 per share. This represents a $2.88 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date was Friday, June 5th. NetEase’s dividend payout ratio (DPR) is currently 38.11%.

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.