Sumitomo Mitsui Trust Holdings Inc. decreased its holdings in shares of NetEase, Inc. (NASDAQ:NTES) by 4.3% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 207,920 shares of the technology company’s stock after selling 9,321 shares during the period. Sumitomo Mitsui Trust Holdings Inc. owned about 0.16% of NetEase worth $54,851,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds have also modified their holdings of NTES. Teachers Advisors LLC grew its position in shares of NetEase by 7.0% during the 1st quarter. Teachers Advisors LLC now owns 35,083 shares of the technology company’s stock valued at $9,964,000 after acquiring an additional 2,300 shares during the period. Vanguard Group Inc. grew its position in shares of NetEase by 3.0% during the 1st quarter. Vanguard Group Inc. now owns 436,338 shares of the technology company’s stock valued at $123,919,000 after acquiring an additional 12,565 shares during the period. Tudor Investment Corp ET AL bought a new stake in shares of NetEase during the 1st quarter valued at $251,000. Aperio Group LLC grew its position in shares of NetEase by 4.3% during the 2nd quarter. Aperio Group LLC now owns 35,423 shares of the technology company’s stock valued at $10,649,000 after acquiring an additional 1,467 shares during the period. Finally, US Bancorp DE grew its position in shares of NetEase by 1.3% during the 2nd quarter. US Bancorp DE now owns 4,041 shares of the technology company’s stock valued at $1,215,000 after acquiring an additional 50 shares during the period. 50.70% of the stock is owned by hedge funds and other institutional investors.
NetEase, Inc. (NASDAQ:NTES) opened at $367.50 on Monday. NetEase, Inc. has a 1-year low of $211.11 and a 1-year high of $375.10. The company has a market cap of $48,550.00, a PE ratio of 24.47, a price-to-earnings-growth ratio of 1.55 and a beta of 0.93.
NetEase declared that its board has approved a stock repurchase plan on Wednesday, November 15th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the technology company to reacquire shares of its stock through open market purchases. Shares buyback plans are generally a sign that the company’s leadership believes its shares are undervalued.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 8th. Shareholders of record on Friday, December 1st will be issued a dividend of $0.717 per share. This represents a $2.87 annualized dividend and a dividend yield of 0.78%. The ex-dividend date is Thursday, November 30th. NetEase’s dividend payout ratio (DPR) is presently 24.73%.
A number of equities research analysts have recently issued reports on the stock. BidaskClub downgraded shares of NetEase from a “buy” rating to a “hold” rating in a research report on Wednesday, August 16th. Vetr downgraded shares of NetEase from a “buy” rating to a “hold” rating and set a $323.68 target price for the company. in a report on Monday. Jefferies Group LLC downgraded shares of NetEase from a “buy” rating to a “hold” rating and dropped their target price for the stock from $330.00 to $290.00 in a report on Tuesday, October 3rd. Benchmark Co. dropped their target price on shares of NetEase from $360.00 to $340.00 and set a “buy” rating for the company in a report on Thursday. Finally, ValuEngine downgraded shares of NetEase from a “buy” rating to a “hold” rating in a report on Friday, September 1st. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating and nine have assigned a buy rating to the company’s stock. NetEase has an average rating of “Hold” and a consensus price target of $320.38.
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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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