Commonwealth Bank of Australia grew its position in NetEase Inc (NASDAQ:NTES) by 400.0% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,000 shares of the technology company’s stock after acquiring an additional 800 shares during the period. Commonwealth Bank of Australia’s holdings in NetEase were worth $262,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. Renaissance Technologies LLC raised its stake in NetEase by 20.1% in the 2nd quarter. Renaissance Technologies LLC now owns 2,726,000 shares of the technology company’s stock worth $819,517,000 after purchasing an additional 456,300 shares in the last quarter. Orbis Allan Gray Ltd raised its stake in NetEase by 17.9% in the 2nd quarter. Orbis Allan Gray Ltd now owns 2,459,381 shares of the technology company’s stock worth $739,364,000 after purchasing an additional 372,510 shares in the last quarter. Comgest Global Investors S.A.S. raised its stake in NetEase by 2.6% in the 3rd quarter. Comgest Global Investors S.A.S. now owns 2,265,783 shares of the technology company’s stock worth $597,737,000 after purchasing an additional 58,279 shares in the last quarter. FMR LLC raised its stake in NetEase by 63.3% in the 2nd quarter. FMR LLC now owns 2,170,611 shares of the technology company’s stock worth $652,551,000 after purchasing an additional 841,692 shares in the last quarter. Finally, Boston Partners raised its stake in NetEase by 10.0% in the 3rd quarter. Boston Partners now owns 1,331,472 shares of the technology company’s stock worth $351,256,000 after purchasing an additional 121,265 shares in the last quarter. 50.54% of the stock is owned by institutional investors.
Several analysts have weighed in on NTES shares. UBS cut shares of NetEase from a “buy” rating to a “neutral” rating in a research note on Monday, October 30th. ValuEngine cut shares of NetEase from a “buy” rating to a “hold” rating in a research note on Friday, September 1st. Nomura upgraded shares of NetEase from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $297.00 to $428.00 in a research note on Friday, November 17th. Zacks Investment Research upgraded shares of NetEase from a “strong sell” rating to a “hold” rating in a research report on Wednesday, October 11th. Finally, Vetr cut shares of NetEase from a “strong-buy” rating to a “buy” rating and set a $313.68 target price for the company. in a research report on Monday, November 6th. Four equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $326.95.
The business also recently declared a quarterly dividend, which will be paid on Friday, December 8th. Investors 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 0.90%. The ex-dividend date is Thursday, November 30th. NetEase’s dividend payout ratio (DPR) is presently 25.09%.
NetEase announced that its Board of Directors has initiated a stock repurchase plan on Wednesday, November 15th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the technology company to repurchase shares of its stock through open market purchases. Shares buyback plans are generally a sign that the company’s management believes its stock is undervalued.
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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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