Jefferies Group LLC reissued their hold rating on shares of NetEase, Inc. (NASDAQ:NTES) in a report issued on Friday morning. They currently have a $302.00 target price on the technology company’s stock.
Several other research firms have also commented on NTES. Vetr lowered shares of NetEase from a strong-buy rating to a buy rating and set a $327.04 price target on the stock. in a research report on Monday, September 18th. Deutsche Bank AG set a $325.00 price target on shares of NetEase and gave the company a buy rating in a research report on Friday, October 6th. Barclays PLC started coverage on shares of NetEase in a research report on Wednesday, October 4th. They set an equal weight rating and a $260.00 price target on the stock. Zacks Investment Research lowered shares of NetEase from a buy rating to a hold rating in a research report on Tuesday, August 8th. Finally, CLSA lowered shares of NetEase from an underperform rating to a sell rating and set a $283.00 price target on the stock. in a research report on Thursday. Three investment 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 company has a consensus rating of Hold and a consensus price target of $320.38.
NetEase (NTES) traded up $41.26 during mid-day trading on Friday, hitting $367.50. 6,047,300 shares of the stock traded hands, compared to its average volume of 1,281,239. The stock has a market cap of $43,100.00, a price-to-earnings ratio of 19.55, a PEG ratio of 1.26 and a beta of 0.93. NetEase has a 1 year low of $211.11 and a 1 year high of $375.10.
NetEase announced that its board has authorized a share repurchase program on Wednesday, November 15th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the technology company to reacquire shares of its stock through open market purchases. Shares buyback programs are typically a sign that the company’s management believes its shares are 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 given a dividend of $0.717 per share. This represents a $2.87 dividend on an annualized basis and a dividend yield of 0.78%. The ex-dividend date of this dividend is Thursday, November 30th. NetEase’s dividend payout ratio is currently 24.31%.
Several institutional investors have recently bought and sold shares of NTES. Teachers Advisors LLC increased its position in shares of NetEase by 7.0% during the first quarter. Teachers Advisors LLC now owns 35,083 shares of the technology company’s stock worth $9,964,000 after acquiring an additional 2,300 shares during the period. Vanguard Group Inc. increased its position in shares of NetEase by 3.0% during the first quarter. Vanguard Group Inc. now owns 436,338 shares of the technology company’s stock worth $123,919,000 after acquiring an additional 12,565 shares during the period. Tudor Investment Corp ET AL purchased a new stake in shares of NetEase during the first quarter worth $251,000. OLD National Bancorp IN increased its position in shares of NetEase by 0.4% during the second quarter. OLD National Bancorp IN now owns 930 shares of the technology company’s stock worth $280,000 after acquiring an additional 4 shares during the period. Finally, Aperio Group LLC increased its position in shares of NetEase by 4.3% during the second quarter. Aperio Group LLC now owns 35,423 shares of the technology company’s stock worth $10,649,000 after acquiring an additional 1,467 shares during the period. 50.30% of the stock is currently owned by institutional investors and hedge funds.
NetEase Company Profile
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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