Dymon Asia Capital Ltd. cut its stake in shares of NetEase, Inc. (NASDAQ:NTES) by 87.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,182 shares of the technology company’s stock after selling 28,900 shares during the quarter. NetEase makes up 2.3% of Dymon Asia Capital Ltd.’s portfolio, making the stock its 6th largest holding. Dymon Asia Capital Ltd.’s holdings in NetEase were worth $1,103,000 as of its most recent filing with the Securities and Exchange Commission.
Other large investors also recently bought and sold shares of the company. IFP Advisors Inc boosted its position in shares of NetEase by 21.4% during the second quarter. IFP Advisors Inc now owns 391 shares of the technology company’s stock worth $118,000 after buying an additional 69 shares during the period. PNC Financial Services Group Inc. boosted its position in shares of NetEase by 22.4% during the second quarter. PNC Financial Services Group Inc. now owns 536 shares of the technology company’s stock worth $161,000 after buying an additional 98 shares during the period. Mariner Wealth Advisors LLC acquired a new position in shares of NetEase during the second quarter worth approximately $203,000. Hikari Power Ltd acquired a new position in shares of NetEase during the second quarter worth approximately $210,000. Finally, Yorktown Management & Research Co Inc acquired a new position in shares of NetEase during the second quarter worth approximately $210,000. 50.54% of the stock is owned by institutional investors.
Several brokerages have recently issued reports on NTES. ValuEngine downgraded NetEase from a “buy” rating to a “hold” rating in a research report on Friday. Vetr downgraded NetEase from a “buy” rating to a “hold” rating and set a $359.78 price objective for the company. in a research report on Monday, November 27th. Zacks Investment Research downgraded NetEase from a “hold” rating to a “sell” rating in a research report on Wednesday, November 22nd. Barclays boosted their price objective on NetEase from $260.00 to $320.00 and gave the stock an “equal weight” rating in a research report on Tuesday, November 21st. Finally, Bank of America boosted their price objective on NetEase from $347.00 to $361.00 and gave the stock a “buy” rating in a research report on Friday, November 17th. Four research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have issued a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $326.79.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 8th. Shareholders of record on Friday, December 1st will be given a $0.717 dividend. The ex-dividend date is Thursday, November 30th. This represents a $2.87 dividend on an annualized basis and a yield of 0.87%. NetEase’s dividend payout ratio (DPR) is 25.09%.
NetEase announced that its board has authorized a share repurchase program on Wednesday, November 15th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the technology company to purchase shares of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board of directors believes its stock is undervalued.
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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