Zacks Investment Research upgraded shares of NetEase (NASDAQ:NTES) from a sell rating to a hold rating in a report published on Thursday.
According to Zacks, “NetEase, Inc. is an Internet technology company engaged in the development of applications, services and other technologies for the Internet in China. It provides online gaming services that include in-house developed massively multi-player online role-playing games and licensed titles. NetEase also provides online advertising, community services, entertainment content, free e-mail services and micro-blogging services. The Company also offers wireless value-added services such as news and information content, matchmaking services, music and photos from the web that are sent over SMS, MMS, WAP, IVR and Color Ring-back Tone technologies. NetEase, Inc., formerly known as NetEase.com, Inc., is based in Beijing, the People’s Republic of China. “
Other equities analysts have also issued reports about the stock. Deutsche Bank set a $334.00 price target on shares of NetEase and gave the stock a buy rating in a research report on Thursday, November 16th. Benchmark lowered their price target on shares of NetEase from $360.00 to $340.00 and set a buy rating on the stock in a research report on Thursday, November 16th. Citigroup reaffirmed a buy rating and set a $351.00 target price on shares of NetEase in a research note on Thursday, November 16th. Vetr raised shares of NetEase from a hold rating to a buy rating and set a $323.68 target price on the stock in a research note on Monday, November 13th. Finally, ValuEngine raised shares of NetEase from a hold rating to a buy rating in a research note on Friday, November 10th. Four investment analysts have rated the stock with a sell rating, six have given a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. NetEase currently has an average rating of Hold and a consensus target price of $344.87.
The company also recently announced a quarterly dividend, which was paid on Friday, March 2nd. Shareholders of record on Friday, February 23rd were paid a dividend of $0.38 per share. 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 dividend payout ratio (DPR) is presently 25.10%.
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 repurchase 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.
Institutional investors have recently added to or reduced their stakes in the company. Ladenburg Thalmann Financial Services Inc. raised its stake in shares of 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 acquiring an additional 267 shares during the period. Icon Wealth Partners LLC purchased a new stake in shares of NetEase in the 4th quarter valued at approximately $176,000. We Are One Seven LLC purchased a new stake in shares of NetEase in the 4th quarter valued at approximately $203,000. Cibc Bank USA purchased a new stake in shares of NetEase in the 4th quarter valued at approximately $204,000. Finally, Raymond James Financial Services Advisors Inc. purchased a new stake in shares of NetEase in the 2nd quarter valued at approximately $218,000. 51.29% of the stock is currently owned by institutional investors and hedge funds.
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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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