HighTower Advisors LLC Buys 24,040 Shares of NetEase, Inc. $NTES

HighTower Advisors LLC grew its stake in shares of NetEase, Inc. (NASDAQ:NTES) by 36.7% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 89,507 shares of the technology company’s stock after acquiring an additional 24,040 shares during the quarter. HighTower Advisors LLC’s holdings in NetEase were worth $11,469,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the stock. V Square Quantitative Management LLC bought a new position in NetEase during the first quarter valued at approximately $25,000. Atlas Capital Advisors Inc. bought a new stake in NetEase in the 4th quarter worth approximately $47,000. Smartleaf Asset Management LLC grew its position 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. raised its stake 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 buying an additional 374 shares during the last quarter. Finally, MidFirst Bank purchased a new stake in NetEase during the 4th quarter valued at $57,000. 11.07% of the stock is currently owned by institutional investors.

NetEase Price Performance

Shares of NTES stock opened at $115.88 on Thursday. NetEase, Inc. has a 1 year low of $106.06 and a 1 year high of $159.55. The firm has a fifty day moving average price of $126.33 and a 200-day moving average price of $120.48. The company has a market cap of $74.19 billion, a price-to-earnings ratio of 15.96, a PEG ratio of 1.38 and a beta of 0.72.

NetEase Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 18th. Shareholders of record on Thursday, September 3rd will be given a $0.48 dividend. The ex-dividend date is Thursday, September 3rd. This represents a $1.92 dividend on an annualized basis and a yield of 1.7%. NetEase’s dividend payout ratio is presently 26.31%.

Insider Transactions at NetEase

In other news, General Counsel William Jr sold 10,000 shares of the firm’s stock in a transaction dated Monday, June 29th. The stock was sold at an average price of $128.30, for a total value of $1,283,000.00. Following the transaction, the general counsel owned 12,223 shares of the company’s stock, 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 Securities & Exchange Commission, which is available through this hyperlink. Also, VP Aileen Mo sold 716 shares of NetEase stock in a transaction dated Wednesday, September 2nd. The shares were sold at an average price of $120.64, for a total value of $86,378.24. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 54.70% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on NTES. Zacks Research cut NetEase from a “strong-buy” rating to a “hold” rating in a report on Monday, July 27th. Morgan Stanley reiterated an “overweight” rating and set a $158.00 price objective on shares of NetEase in a research report on Tuesday, May 26th. The Goldman Sachs Group set a $169.00 price objective on NetEase in a research report on Wednesday, July 1st. Wall Street Zen cut NetEase from a “buy” rating to a “hold” rating in a research report on Sunday, August 2nd. Finally, Sanford C. Bernstein reissued an “outperform” rating and issued a $160.00 target price on shares of NetEase in a research report on Friday, August 21st. Seven analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $160.57.

NetEase Profile

NetEase, Inc is a Chinese internet and technology company that develops and operates online games, digital content services and other internet-related products. Founded in 1997 by Ding Lei, the company has grown into a global developer and publisher of games for personal computers and mobile devices.

NetEase Games is the company’s primary business and offers original titles across genres including role-playing, strategy, action and competitive gaming. The company also publishes games through partnerships with international developers and operates game studios in China and overseas.