UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Sells 35,876 Shares of NetEase, Inc. $NTES

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lessened its stake in shares of NetEase, Inc. (NASDAQ:NTES) by 0.4% during the second quarter, according to the company in its most recent disclosure with the SEC. The fund 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 owned approximately 1.26% of NetEase worth $1,030,256,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Wellington Management Group LLP lifted its holdings in NetEase by 52.7% during the 2nd quarter. Wellington Management Group LLP now owns 287,620 shares of the technology company’s stock worth $36,856,000 after buying an additional 99,268 shares during the period. Public Employees Retirement System of Ohio bought a new stake in NetEase in the second quarter valued at approximately $14,991,000. Flossbach Von Storch SE acquired a new stake in NetEase during the 2nd quarter valued at approximately $1,089,000. Brookmont Capital Management lifted its position in shares of NetEase by 137.1% in the 2nd quarter. Brookmont Capital Management now owns 25,514 shares of the technology company’s stock worth $3,269,000 after purchasing an additional 14,754 shares during the period. Finally, Signaturefd LLC boosted its stake in shares of NetEase by 3.4% in the 2nd quarter. Signaturefd LLC now owns 4,291 shares of the technology company’s stock valued at $550,000 after purchasing an additional 140 shares during the last quarter. 11.07% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts recently commented on NTES shares. The Goldman Sachs Group set a $169.00 target price on NetEase in a research report on Wednesday, July 1st. Sanford C. Bernstein reaffirmed an “outperform” rating and set a $160.00 price objective on shares of NetEase in a research report on Friday, August 21st. Morgan Stanley reissued an “overweight” rating and set a $158.00 target price on shares of NetEase in a research note on Tuesday, May 26th. Wall Street Zen lowered shares of NetEase from a “buy” rating to a “hold” rating in a report on Sunday, August 2nd. Finally, Zacks Research downgraded NetEase from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 27th. Eight research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $159.00.

NetEase Stock Up 0.1%

NASDAQ:NTES opened at $122.76 on Friday. The firm’s fifty day simple moving average is $126.97 and its 200 day simple moving average is $120.55. The stock has a market cap of $78.60 billion, a P/E ratio of 16.91, a price-to-earnings-growth ratio of 1.42 and a beta of 0.73. NetEase, Inc. has a twelve month low of $106.06 and a twelve month high of $159.55.

NetEase Cuts Dividend

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

Insider Buying and Selling

In other news, General Counsel Paul William Boltz, Jr. sold 10,000 shares of NetEase 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 owned 12,223 shares in the company, valued at $1,568,210.90. This trade represents a 45.00% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 54.70% of the company’s stock.

NetEase Company 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.