Nomura Asset Management Co. Ltd. lessened its stake in NetEase Inc (NASDAQ:NTES) by 15.3% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 16,206 shares of the technology company’s stock after selling 2,934 shares during the period. Nomura Asset Management Co. Ltd.’s holdings in NetEase were worth $5,593,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors and hedge funds also recently bought and sold shares of the business. BlackRock Inc. grew its stake in NetEase by 5.2% in the fourth quarter. BlackRock Inc. now owns 4,963,150 shares of the technology company’s stock valued at $1,712,636,000 after purchasing an additional 243,978 shares during the last quarter. Comgest Global Investors S.A.S. boosted its holdings in NetEase by 0.4% in the fourth quarter. Comgest Global Investors S.A.S. now owns 2,274,160 shares of the technology company’s stock worth $784,745,000 after acquiring an additional 8,377 shares in the last quarter. Central Asset Investments & Management Holdings HK Ltd acquired a new stake in NetEase in the third quarter worth about $2,092,000. UBS Asset Management Americas Inc. boosted its holdings in NetEase by 179.7% in the fourth quarter. UBS Asset Management Americas Inc. now owns 1,907,384 shares of the technology company’s stock worth $658,181,000 after acquiring an additional 1,225,421 shares in the last quarter. Finally, Fisher Asset Management LLC boosted its holdings in NetEase by 11.7% in the fourth quarter. Fisher Asset Management LLC now owns 936,893 shares of the technology company’s stock worth $323,294,000 after acquiring an additional 97,840 shares in the last quarter. Institutional investors own 51.29% of the company’s stock.
Several equities research analysts have weighed in on NTES shares. Vetr raised NetEase from a “buy” rating to a “strong-buy” rating and set a $362.28 price target for the company in a report on Tuesday, December 5th. Zacks Investment Research raised NetEase from a “strong sell” rating to a “hold” rating in a report on Wednesday, January 17th. Bank of America lifted their target price on NetEase from $347.00 to $361.00 and gave the stock a “buy” rating in a report on Friday, November 17th. Deutsche Bank set a $380.00 target price on NetEase and gave the stock a “buy” rating in a report on Tuesday, January 2nd. Finally, Goldman Sachs Group reaffirmed a “buy” rating and set a $432.00 target price (up previously from $340.00) on shares of NetEase in a report on Thursday, January 18th. They noted that the move was a valuation call. Four equities research analysts have rated the stock with a sell rating, six have given a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $344.87.
NetEase declared that its Board of Directors has initiated a share buyback plan on Wednesday, November 15th that authorizes the company to repurchase $1.00 billion in 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 management believes its stock is undervalued.
The business also recently declared a quarterly dividend, which was paid on Friday, March 2nd. Shareholders of record on Friday, February 23rd were issued a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a yield of 0.49%. The ex-dividend date was Thursday, February 22nd. NetEase’s payout ratio is presently 25.10%.
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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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