TT International acquired a new stake in shares of NetEase Inc (NASDAQ:NTES) during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 67,151 shares of the technology company’s stock, valued at approximately $17,715,000. NetEase makes up 3.0% of TT International’s investment portfolio, making the stock its 10th biggest position. TT International owned 0.05% of NetEase as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in NTES. Artisan Partners Limited Partnership acquired a new stake in NetEase during the second quarter valued at approximately $287,603,000. FMR LLC raised its position in shares of NetEase by 63.3% during the 2nd quarter. FMR LLC now owns 2,170,611 shares of the technology company’s stock valued at $652,551,000 after acquiring an additional 841,692 shares during the last quarter. Capital International Investors bought a new stake in shares of NetEase during the 3rd quarter valued at $180,472,000. Renaissance Technologies LLC raised its position in shares of NetEase by 20.1% during the 2nd quarter. Renaissance Technologies LLC now owns 2,726,000 shares of the technology company’s stock valued at $819,517,000 after acquiring an additional 456,300 shares during the last quarter. Finally, Orbis Allan Gray Ltd raised its position in shares of NetEase by 17.9% during the 2nd quarter. Orbis Allan Gray Ltd now owns 2,459,381 shares of the technology company’s stock valued at $739,364,000 after acquiring an additional 372,510 shares during the last quarter. 50.54% of the stock is currently owned by institutional investors.
NTES has been the subject of several research analyst reports. Zacks Investment Research lowered shares of NetEase from a “hold” rating to a “strong sell” rating in a report on Wednesday, August 16th. BidaskClub lowered shares of NetEase from a “buy” rating to a “hold” rating in a report on Wednesday, August 16th. ValuEngine lowered shares of NetEase from a “buy” rating to a “hold” rating in a report on Friday, September 1st. Vetr lowered shares of NetEase from a “strong-buy” rating to a “buy” rating and set a $327.04 price target for the company. in a report on Monday, September 18th. Finally, Jefferies Group lowered shares of NetEase from a “buy” rating to a “hold” rating and decreased their price target for the company from $330.00 to $290.00 in a report on Tuesday, October 3rd. Four research analysts have rated the stock with a sell rating, seven have issued a hold rating and nine have given a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $327.05.
NetEase Inc (NASDAQ NTES) opened at $344.52 on Wednesday. The firm has a market cap of $45,544.46, a price-to-earnings ratio of 22.95, a P/E/G ratio of 1.93 and a beta of 0.93. NetEase Inc has a one year low of $211.11 and a one year high of $375.10.
The business also recently announced a quarterly dividend, which was paid on Friday, December 8th. Investors of record on Friday, December 1st were paid a $0.717 dividend. This represents a $2.87 dividend on an annualized basis and a yield of 0.83%. The ex-dividend date of this dividend was Thursday, November 30th. NetEase’s payout ratio is presently 25.09%.
NetEase declared that its Board of Directors has authorized a share buyback program on Wednesday, November 15th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the technology company to purchase shares of its stock through open market purchases. Shares repurchase programs are often an indication that the company’s management believes its shares are undervalued.
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NetEase Company Profile
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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