NetEase, Inc. (NTES) Stake Lowered by Credit Suisse AG
Credit Suisse AG decreased its position in NetEase, Inc. (NASDAQ:NTES) by 1.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 565,709 shares of the technology company’s stock after selling 7,861 shares during the period. Credit Suisse AG owned about 0.43% of NetEase worth $160,662,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also bought and sold shares of NTES. Assetmark Inc. raised its position in shares of NetEase by 51.0% in the first quarter. Assetmark Inc. now owns 367 shares of the technology company’s stock worth $104,000 after buying an additional 124 shares in the last quarter. Howe & Rusling Inc. raised its position in shares of NetEase by 7.2% in the first quarter. Howe & Rusling Inc. now owns 715 shares of the technology company’s stock worth $203,000 after buying an additional 48 shares in the last quarter. Blair William & Co. IL purchased a new position in shares of NetEase during the first quarter worth approximately $229,000. Dixon Hubard Feinour & Brown Inc. VA purchased a new position in shares of NetEase during the first quarter worth approximately $227,000. Finally, AXA purchased a new position in shares of NetEase during the first quarter worth approximately $227,000. 54.59% of the stock is currently owned by institutional investors and hedge funds.
NetEase, Inc. (NTES) traded up 2.28% during mid-day trading on Wednesday, hitting $323.73. The stock had a trading volume of 1,034,453 shares. The stock has a market capitalization of $42.58 billion, a P/E ratio of 22.28 and a beta of 0.85. The company’s 50 day moving average is $289.21 and its 200-day moving average is $267.72. NetEase, Inc. has a 52 week low of $165.02 and a 52 week high of $327.26.
The firm also recently announced a quarterly dividend, which was paid on Friday, June 2nd. Investors of record on Friday, May 26th were given a dividend of $1.08 per share. This represents a $4.32 annualized dividend and a yield of 1.33%. The ex-dividend date of this dividend was Wednesday, May 24th. NetEase’s payout ratio is 25.09%.
NTES has been the topic of a number of research reports. Benchmark Co. initiated coverage on NetEase in a report on Tuesday, April 18th. They issued a “buy” rating and a $325.00 price objective on the stock. Vetr raised NetEase from a “buy” rating to a “strong-buy” rating and set a $334.49 price objective on the stock in a report on Tuesday, March 14th. Jefferies Group LLC reaffirmed a “buy” rating and issued a $300.00 price objective on shares of NetEase in a report on Wednesday, April 26th. Nomura reaffirmed a “hold” rating and issued a $297.00 price objective (down from $305.00) on shares of NetEase in a report on Thursday, May 11th. Finally, Instinet reaffirmed a “buy” rating and issued a $307.00 price objective on shares of NetEase in a report on Tuesday, May 9th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. NetEase presently has an average rating of “Buy” and a consensus price target of $295.84.
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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