Asset Dedication LLC Has $137,000 Stock Holdings in NetEase, Inc. (NASDAQ:NTES)

Asset Dedication LLC reduced its position in NetEase, Inc. (NASDAQ:NTES) by 13.8% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 1,540 shares of the technology company’s stock after selling 246 shares during the period. Asset Dedication LLC’s holdings in NetEase were worth $137,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Brooklyn Investment Group bought a new position in NetEase in the fourth quarter valued at about $34,000. UMB Bank n.a. lifted its position in NetEase by 33.3% during the 4th quarter. UMB Bank n.a. now owns 444 shares of the technology company’s stock valued at $40,000 after purchasing an additional 111 shares during the period. Highline Wealth Partners LLC bought a new position in shares of NetEase in the 3rd quarter valued at about $45,000. RPg Family Wealth Advisory LLC acquired a new stake in shares of NetEase during the 3rd quarter worth approximately $70,000. Finally, Allspring Global Investments Holdings LLC bought a new stake in shares of NetEase during the third quarter worth approximately $76,000. Institutional investors own 11.07% of the company’s stock.

NetEase Trading Up 4.0 %

NASDAQ:NTES opened at $104.88 on Friday. NetEase, Inc. has a 1 year low of $75.85 and a 1 year high of $114.50. The stock has a 50-day moving average price of $93.33 and a two-hundred day moving average price of $88.35. The stock has a market cap of $67.35 billion, a price-to-earnings ratio of 17.72, a PEG ratio of 3.33 and a beta of 0.57.

NetEase Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, December 13th. Investors of record on Friday, November 29th were paid a dividend of $0.435 per share. The ex-dividend date was Friday, November 29th. This represents a $1.74 dividend on an annualized basis and a yield of 1.66%. NetEase’s payout ratio is 29.22%.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on NTES. Bank of America raised their price objective on shares of NetEase from $120.00 to $122.00 and gave the company a “buy” rating in a research note on Wednesday, January 15th. Morgan Stanley upgraded NetEase from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $90.00 to $108.00 in a research report on Wednesday, January 8th. Citigroup upped their price objective on NetEase from $108.00 to $115.00 and gave the company a “buy” rating in a report on Friday, November 15th. StockNews.com lowered NetEase from a “strong-buy” rating to a “buy” rating in a research note on Friday, December 6th. Finally, Benchmark decreased their target price on NetEase from $120.00 to $105.00 and set a “buy” rating for the company in a research report on Friday, November 15th. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, NetEase currently has a consensus rating of “Moderate Buy” and a consensus target price of $108.71.

About NetEase

NetEase, Inc engages in online games, music streaming, online intelligent learning services, and internet content services businesses in China and internationally . The company operates through Games and Related Value-Added Services, Youdao, Cloud Music, and Innovative Businesses and Others segments.