Matthews International Capital Management LLC cut its holdings in NetEase Inc (NASDAQ:NTES) by 20.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 247,700 shares of the technology company’s stock after selling 61,760 shares during the quarter. NetEase comprises about 4.0% of Matthews International Capital Management LLC’s investment portfolio, making the stock its 8th biggest holding. Matthews International Capital Management LLC owned 0.19% of NetEase worth $85,474,000 at the end of the most recent quarter.
Other institutional investors have also modified their holdings of the company. Ladenburg Thalmann Financial Services Inc. raised its position in NetEase by 117.6% in the third 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 in the last quarter. PNC Financial Services Group Inc. raised its position in NetEase by 22.4% in the second 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 in the last quarter. Cibc Bank USA bought a new stake in NetEase in the fourth quarter worth about $204,000. Mariner Wealth Advisors LLC bought a new stake in NetEase in the fourth quarter worth about $233,000. Finally, Hikari Power Ltd bought a new stake in NetEase in the fourth quarter worth about $242,000. Hedge funds and other institutional investors own 47.85% of the company’s stock.
Several analysts have issued reports on NTES shares. Vetr upgraded NetEase from a “buy” rating to a “strong-buy” rating and set a $375.44 price objective on the stock in a report on Wednesday, January 10th. BidaskClub downgraded NetEase from a “hold” rating to a “sell” rating in a report on Thursday, January 11th. Benchmark cut their price objective on NetEase from $360.00 to $340.00 and set a “buy” rating on the stock in a report on Thursday, November 16th. Deutsche Bank set a $334.00 price objective on NetEase and gave the stock a “buy” rating in a report on Thursday, November 16th. Finally, CLSA upgraded NetEase from a “sell” rating to an “underperform” rating in a report on Thursday, February 8th. Three investment analysts have rated the stock with a sell rating, six have given a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $349.14.
Shares of NetEase Inc (NASDAQ NTES) opened at $310.79 on Wednesday. The stock has a market capitalization of $40,613.13, a PE ratio of 26.01, a price-to-earnings-growth ratio of 1.76 and a beta of 0.75. NetEase Inc has a twelve month low of $253.20 and a twelve month high of $377.64.
The firm also recently announced a quarterly dividend, which will be paid on Friday, March 2nd. Stockholders of record on Friday, February 23rd will be issued a $0.38 dividend. The ex-dividend date of this dividend is Thursday, February 22nd. This represents a $1.52 dividend on an annualized basis and a dividend yield of 0.49%. NetEase’s dividend payout ratio is 30.38%.
NetEase declared that its Board of Directors has authorized 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 reacquire shares of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board of directors believes its shares are undervalued.
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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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