NetEase (NASDAQ:NTES) had its price target raised by Barclays from $260.00 to $320.00 in a report published on Tuesday, November 21st, MarketBeat Ratings reports. The firm currently has an equal weight rating on the technology company’s stock.
Several other equities analysts also recently weighed in on NTES. Deutsche Bank reiterated a buy rating and issued a $343.00 price target (up previously from $300.00) on shares of NetEase in a report on Tuesday, July 25th. BidaskClub cut shares of NetEase from a buy rating to a hold rating in a research note on Friday, August 4th. Zacks Investment Research cut shares of NetEase from a buy rating to a hold rating in a research note on Tuesday, August 8th. CLSA cut shares of NetEase from an outperform rating to an underperform rating in a research note on Thursday, August 10th. Finally, ValuEngine cut shares of NetEase from a buy rating to a hold rating in a research note on Friday, September 1st. Four analysts have rated the stock with a sell rating, seven have assigned a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. NetEase presently has an average rating of Hold and an average price target of $326.95.
Shares of NetEase (NTES) traded up $2.07 during trading hours on Tuesday, reaching $320.35. 1,125,060 shares of the company traded hands, compared to its average volume of 1,297,916. NetEase has a one year low of $211.11 and a one year high of $375.10. The firm has a market cap of $42,320.00, a P/E ratio of 21.17, a PEG ratio of 1.78 and a beta of 0.95.
NetEase announced that its board has initiated a share repurchase 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 buy shares of its stock through open market purchases. Shares repurchase plans are generally a sign that the company’s board believes its shares are undervalued.
The business also recently declared a quarterly dividend, which will be paid on Friday, December 8th. Investors of record on Friday, December 1st will be paid a $0.717 dividend. The ex-dividend date of this dividend is Thursday, November 30th. This represents a $2.87 dividend on an annualized basis and a yield of 0.90%. NetEase’s dividend payout ratio is currently 24.30%.
A number of institutional investors have recently added to or reduced their stakes in the stock. IFP Advisors Inc lifted its holdings in NetEase by 21.4% in the 2nd quarter. IFP Advisors Inc now owns 391 shares of the technology company’s stock valued at $118,000 after purchasing an additional 69 shares in the last quarter. Ladenburg Thalmann Financial Services Inc. lifted its holdings in NetEase by 117.6% in the 3rd quarter. Ladenburg Thalmann Financial Services Inc. now owns 494 shares of the technology company’s stock valued at $131,000 after purchasing an additional 267 shares in the last quarter. PNC Financial Services Group Inc. lifted its holdings in NetEase by 22.4% in the 2nd quarter. PNC Financial Services Group Inc. now owns 536 shares of the technology company’s stock valued at $161,000 after purchasing an additional 98 shares in the last quarter. Mariner Wealth Advisors LLC purchased a new position in NetEase in the 2nd quarter valued at $203,000. Finally, Huntington National Bank lifted its holdings in NetEase by 84.7% in the 2nd quarter. Huntington National Bank now owns 700 shares of the technology company’s stock valued at $210,000 after purchasing an additional 321 shares in the last quarter. 50.54% of the stock is currently owned by hedge funds and other institutional investors.
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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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