Vetr downgraded shares of NetEase, Inc. (NASDAQ:NTES) from a buy rating to a hold rating in a research note published on Monday. They currently have $323.68 price objective on the technology company’s stock.
A number of other research analysts have also weighed in on NTES. Deutsche Bank AG reiterated a buy rating and issued a $343.00 price objective (up from $300.00) on shares of NetEase in a research note on Tuesday, July 25th. BidaskClub lowered shares of NetEase from a buy rating to a hold rating in a research note on Friday, August 4th. Zacks Investment Research lowered shares of NetEase from a buy rating to a hold rating in a research note on Tuesday, August 8th. CLSA lowered shares of NetEase from an outperform rating to an underperform rating in a research note on Thursday, August 10th. Finally, ValuEngine lowered shares of NetEase from a buy rating to a hold rating in a research note on Friday, September 1st. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating and nine have assigned a buy rating to the company. The stock currently has a consensus rating of Hold and an average price target of $320.38.
NetEase (NTES) opened at $344.07 on Monday. NetEase has a one year low of $211.11 and a one year high of $375.10. The firm has a market cap of $45,840.00, a P/E ratio of 24.47, a P/E/G ratio of 1.55 and a beta of 0.93.
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NetEase announced that its board has initiated a share repurchase program on Wednesday, November 15th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the technology company to purchase shares of its stock through open market purchases. Shares buyback programs are often a sign that the company’s board believes its stock is undervalued.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 8th. Stockholders of record on Friday, December 1st will be issued a dividend of $0.717 per share. This represents a $2.87 dividend on an annualized basis and a dividend yield of 0.83%. The ex-dividend date is Thursday, November 30th. NetEase’s dividend payout ratio is currently 24.73%.
Hedge funds and other institutional investors have recently bought and sold shares of the company. IFP Advisors Inc lifted its holdings in shares of NetEase by 21.4% during the 2nd quarter. IFP Advisors Inc now owns 391 shares of the technology company’s stock worth $118,000 after acquiring an additional 69 shares during the last quarter. Ladenburg Thalmann Financial Services Inc. lifted its holdings in shares of NetEase by 117.6% during the 3rd quarter. Ladenburg Thalmann Financial Services Inc. now owns 494 shares of the technology company’s stock worth $131,000 after acquiring an additional 267 shares during the last quarter. PNC Financial Services Group Inc. lifted its holdings in shares of NetEase by 22.4% during the 2nd quarter. PNC Financial Services Group Inc. now owns 536 shares of the technology company’s stock worth $161,000 after acquiring an additional 98 shares during the last quarter. Mariner Wealth Advisors LLC bought a new stake in shares of NetEase during the 2nd quarter worth $203,000. Finally, Huntington National Bank lifted its holdings in shares of NetEase by 84.7% during the 2nd quarter. Huntington National Bank now owns 700 shares of the technology company’s stock worth $210,000 after acquiring an additional 321 shares during the last quarter. 50.70% of the stock is owned by institutional investors.
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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