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

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC reduced its stake in shares of NetEase, Inc. (NASDAQ:NTES) by 0.4% during the 2nd quarter, Holdings Channel.com reports. The firm owned 8,040,080 shares of the technology company’s stock after selling 35,876 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in NetEase were worth $1,030,256,000 as of its most recent filing with the SEC.

Several other institutional investors also recently bought and sold shares of NTES. V Square Quantitative Management LLC acquired a new stake in NetEase during the first quarter valued at $25,000. Atlas Capital Advisors Inc. purchased a new position in shares of NetEase in the 4th quarter valued at about $47,000. Smartleaf Asset Management LLC raised its holdings in 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 purchasing an additional 372 shares during the period. Harbour Investments Inc. grew its holdings in NetEase by 7,480.0% in the fourth quarter. Harbour Investments Inc. now owns 379 shares of the technology company’s stock valued at $52,000 after purchasing an additional 374 shares during the period. Finally, MidFirst Bank acquired a new position in shares of NetEase during the 4th quarter worth approximately $57,000. 11.07% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, General Counsel Paul William Boltz, Jr. sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, June 29th. The shares were sold at an average price of $128.30, for a total transaction of $1,283,000.00. Following the sale, the general counsel directly owned 12,223 shares in the company, valued at approximately $1,568,210.90. This represents a 45.00% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 54.70% of the company’s stock.

Wall Street Analyst Weigh In

NTES has been the subject of a number of research analyst reports. Wall Street Zen cut shares of NetEase from a “buy” rating to a “hold” rating in a research report on Sunday, August 2nd. The Goldman Sachs Group set a $169.00 price target on shares of NetEase in a research note on Wednesday, July 1st. Benchmark reiterated a “buy” rating on shares of NetEase in a research note on Friday, May 22nd. Zacks Research downgraded NetEase from a “strong-buy” rating to a “hold” rating in a research report on Monday, July 27th. Finally, Morgan Stanley reaffirmed an “overweight” rating and issued a $158.00 price target on shares of NetEase in a research note on Tuesday, May 26th. Eight investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $159.00.

NetEase Stock Performance

NASDAQ:NTES opened at $122.76 on Friday. NetEase, Inc. has a one year low of $106.06 and a one year high of $159.55. The stock has a market cap of $78.60 billion, a PE ratio of 16.91, a P/E/G ratio of 1.42 and a beta of 0.73. The stock has a 50 day moving average price of $126.97 and a 200 day moving average price of $120.55.

NetEase Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 18th. Stockholders of record on Thursday, September 3rd will be paid a $0.48 dividend. The ex-dividend date of this dividend is Thursday, September 3rd. This represents a $1.92 dividend on an annualized basis and a dividend yield of 1.6%. NetEase’s payout ratio is presently 39.53%.

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.