OLD Mission Capital LLC lifted its position in shares of NetEase Inc (NASDAQ:NTES) by 51.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 7,404 shares of the technology company’s stock after purchasing an additional 2,509 shares during the period. OLD Mission Capital LLC’s holdings in NetEase were worth $2,555,000 at the end of the most recent reporting period.
Several other institutional investors have also recently added to or reduced their stakes in the company. BlackRock Inc. lifted its position in shares of NetEase by 5.2% during the 4th quarter. BlackRock Inc. now owns 4,963,150 shares of the technology company’s stock worth $1,712,636,000 after purchasing an additional 243,978 shares during the last quarter. Orbis Allan Gray Ltd raised its stake in NetEase by 32.1% during the 4th quarter. Orbis Allan Gray Ltd now owns 4,119,291 shares of the technology company’s stock worth $1,421,444,000 after acquiring an additional 1,000,970 shares in the last quarter. Comgest Global Investors S.A.S. raised its stake in NetEase by 0.4% during the 4th 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 during the 3rd quarter worth $2,092,000. Finally, UBS Asset Management Americas Inc. raised its stake in NetEase by 179.7% during the 4th 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. 51.29% of the stock is owned by institutional investors and hedge funds.
NetEase Inc (NASDAQ NTES) opened at $311.62 on Wednesday. The company has a market cap of $41,518.02, a price-to-earnings ratio of 26.08, a price-to-earnings-growth ratio of 1.77 and a beta of 0.84. NetEase Inc has a one year low of $253.20 and a one year high of $377.64.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 2nd. Shareholders of record on Friday, February 23rd were paid a $0.38 dividend. The ex-dividend date of this dividend was Thursday, February 22nd. This represents a $1.52 dividend on an annualized basis and a yield of 0.49%. NetEase’s dividend payout ratio is presently 25.10%.
NetEase declared that its board has approved a share repurchase plan on Wednesday, November 15th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the technology company to repurchase shares of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s board believes its stock is undervalued.
Several equities research analysts recently commented on the stock. Vetr lowered shares of NetEase from a “buy” rating to a “hold” rating and set a $323.68 price target on the stock. in a research note on Monday, November 20th. Nomura upgraded shares of NetEase from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $297.00 to $428.00 in a research note on Friday, November 17th. Deutsche Bank set a $380.00 price target on shares of NetEase and gave the stock a “buy” rating in a research note on Tuesday, January 2nd. Barclays set a $315.00 price target on shares of NetEase and gave the stock an “equal weight” rating in a research note on Tuesday, January 2nd. Finally, Zacks Investment Research lowered shares of NetEase from a “hold” rating to a “sell” rating in a research note on Wednesday, November 22nd. Four research analysts have rated the stock with a sell rating, six have given a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $344.87.
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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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