Nomura upgraded shares of NetEase, Inc. (NASDAQ:NTES) from a neutral rating to a buy rating in a research report report published on Friday morning, MarketBeat reports. The firm currently has $428.00 target price on the technology company’s stock, up from their previous target price of $297.00.
NTES has been the subject of several other reports. Zacks Investment Research cut shares of NetEase from a buy rating to a hold rating in a report on Tuesday, August 8th. Deutsche Bank AG set a $325.00 price objective on shares of NetEase and gave the company a buy rating in a report on Friday, October 6th. ValuEngine raised shares of NetEase from a hold rating to a buy rating in a report on Friday, November 10th. Barclays PLC initiated coverage on shares of NetEase in a report on Wednesday, October 4th. They set an equal weight rating and a $260.00 target price for the company. Finally, UBS AG cut shares of NetEase from a buy rating to a neutral rating in a report on Monday, October 30th. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating and nine have issued a buy rating to the stock. The company currently has a consensus rating of Hold and a consensus price target of $320.38.
NetEase (NASDAQ:NTES) opened at $344.07 on Friday. NetEase has a twelve month low of $211.11 and a twelve month high of $375.10. The firm has a market cap of $45,840.00, a P/E ratio of 24.47, a PEG ratio of 1.55 and a beta of 0.93.
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NetEase declared that its board has approved a stock buyback plan on Wednesday, November 15th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the technology company to reacquire shares of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s leadership believes its shares are undervalued.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 8th. Shareholders of record on Friday, December 1st will be given a dividend of $0.717 per share. The ex-dividend date of this dividend is Thursday, November 30th. This represents a $2.87 annualized dividend and a yield of 0.83%. NetEase’s dividend payout ratio (DPR) is currently 24.73%.
A number of hedge funds have recently added to or reduced their stakes in the business. Central Asset Investments & Management Holdings HK Ltd bought a new position in NetEase during the third quarter valued at $2,092,000. Cetera Advisor Networks LLC lifted its position in NetEase by 18.0% during the third quarter. Cetera Advisor Networks LLC now owns 1,556 shares of the technology company’s stock valued at $411,000 after purchasing an additional 237 shares during the last quarter. TT International bought a new position in NetEase during the third quarter valued at $17,715,000. Janney Montgomery Scott LLC lifted its position in NetEase by 2.5% during the third quarter. Janney Montgomery Scott LLC now owns 7,021 shares of the technology company’s stock valued at $1,852,000 after purchasing an additional 170 shares during the last quarter. Finally, Ladenburg Thalmann Financial Services Inc. lifted its position in NetEase by 117.6% during the third 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 during the last quarter. Institutional investors and hedge funds own 50.70% of the company’s stock.
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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