Brown Advisory Inc. raised its stake in shares of NetEase Inc (NASDAQ:NTES) by 64.4% during the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 2,215 shares of the technology company’s stock after purchasing an additional 868 shares during the quarter. Brown Advisory Inc.’s holdings in NetEase were worth $584,000 as of its most recent filing with the SEC.
Several other large investors also recently bought and sold shares of NTES. IFP Advisors Inc boosted its position in NetEase by 21.4% in the second quarter. IFP Advisors Inc now owns 391 shares of the technology company’s stock valued at $118,000 after buying an additional 69 shares in the last quarter. PNC Financial Services Group Inc. boosted its position in NetEase by 22.4% in the second quarter. PNC Financial Services Group Inc. now owns 536 shares of the technology company’s stock valued at $161,000 after buying an additional 98 shares in the last quarter. Mariner Wealth Advisors LLC acquired a new position in NetEase in the second quarter valued at about $203,000. Hikari Power Ltd acquired a new position in NetEase in the second quarter valued at about $210,000. Finally, Yorktown Management & Research Co Inc bought a new position in shares of NetEase in the second quarter worth about $210,000. Institutional investors own 50.42% of the company’s stock.
NTES has been the subject of a number of research analyst reports. Vetr downgraded shares of NetEase from a “strong-buy” rating to a “buy” rating and set a $327.04 target price for the company. in a research note on Monday, September 18th. Jefferies Group downgraded shares of NetEase from a “buy” rating to a “hold” rating and dropped their price target for the stock from $330.00 to $290.00 in a research note on Tuesday, October 3rd. Credit Suisse Group reissued an “outperform” rating and set a $315.00 price target on shares of NetEase in a research note on Tuesday, October 3rd. Barclays initiated coverage on shares of NetEase in a research note on Wednesday, October 4th. They set an “equal weight” rating and a $260.00 price target for the company. Finally, Deutsche Bank set a $325.00 target price on shares of NetEase and gave the company a “buy” rating in a research note on Friday, October 6th. Four analysts have rated the stock with a sell rating, seven have assigned a hold rating and eight have given a buy rating to the stock. NetEase has an average rating of “Hold” and an average target price of $329.79.
Shares of NetEase Inc (NASDAQ NTES) traded up $3.30 during mid-day trading on Tuesday, reaching $348.37. 1,924,800 shares of the company’s stock were exchanged, compared to its average volume of 1,799,900. The firm has a market capitalization of $46,020.00, a PE ratio of 22.93, a P/E/G ratio of 1.95 and a beta of 0.95. NetEase Inc has a 12-month low of $215.63 and a 12-month high of $377.64.
The company also recently declared a quarterly dividend, which was paid on Friday, December 8th. Shareholders of record on Friday, December 1st were paid a $0.717 dividend. This represents a $2.87 dividend on an annualized basis and a yield of 0.82%. The ex-dividend date of this dividend was Thursday, November 30th. NetEase’s dividend payout ratio is currently 23.90%.
NetEase declared that its Board of Directors has authorized a stock buyback plan on Wednesday, November 15th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the technology company to purchase shares of its stock through open market purchases. Shares repurchase plans are usually a sign that the company’s board of directors believes its shares are undervalued.
NetEase, Inc (NetEase) is a technology company. The Company operates an interactive online community in China and is a provider of Chinese language content and services through its online games, Internet media, e-mail, e-commerce and other businesses. The Company operates through three segments: Online Game Services; Advertising Services, and E-mail, E-commerce and Others.
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