NetEase Inc (NTES) Shares Sold by Bp Plc
Bp Plc lowered its position in NetEase Inc (NASDAQ:NTES) by 51.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 14,779 shares of the technology company’s stock after selling 15,889 shares during the period. Bp Plc’s holdings in NetEase were worth $5,099,000 at the end of the most recent reporting period.
Other large investors have also recently bought and sold shares of the company. Ladenburg Thalmann Financial Services Inc. raised its stake in shares of NetEase by 117.6% in the third quarter. Ladenburg Thalmann Financial Services Inc. now owns 494 shares of the technology company’s stock valued at $131,000 after acquiring an additional 267 shares during the last quarter. PNC Financial Services Group Inc. raised its stake in shares of NetEase by 22.4% in the second quarter. PNC Financial Services Group Inc. now owns 536 shares of the technology company’s stock valued at $161,000 after acquiring an additional 98 shares during the last quarter. Cibc Bank USA bought a new position in shares of NetEase in the fourth quarter valued at approximately $204,000. Raymond James Financial Services Advisors Inc. bought a new position in shares of NetEase in the second quarter valued at approximately $218,000. Finally, Hikari Power Ltd bought a new position in shares of NetEase in the fourth quarter valued at approximately $242,000. Institutional investors own 48.89% of the company’s stock.
Shares of NetEase Inc (NASDAQ NTES) opened at $289.61 on Friday. NetEase Inc has a fifty-two week low of $252.54 and a fifty-two week high of $377.64. The company has a market cap of $38,260.00, a price-to-earnings ratio of 18.36, a price-to-earnings-growth ratio of 1.60 and a beta of 0.75.
NetEase announced that its board has approved a share repurchase program 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. Shares buyback programs are often a sign that the company’s board believes its shares are undervalued.
The firm also recently announced a quarterly dividend, which will be paid on Friday, March 2nd. Shareholders of record on Friday, February 23rd will be issued a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a yield of 0.52%. NetEase’s dividend payout ratio is presently 23.02%.
Several research analysts recently weighed in on the stock. Benchmark boosted their price objective on shares of NetEase to $355.00 and gave the stock a “buy” rating in a research report on Tuesday. ValuEngine cut shares of NetEase from a “buy” rating to a “hold” rating in a research report on Friday, December 1st. Vetr upgraded shares of NetEase from a “hold” rating to a “buy” rating and set a $359.78 price objective for the company in a research report on Tuesday, November 21st. CLSA upgraded shares of NetEase from a “sell” rating to an “underperform” rating in a research report on Thursday. Finally, Barclays boosted their price objective on shares of NetEase from $260.00 to $320.00 and gave the stock an “equal weight” rating in a research report on Tuesday, November 21st. Three equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $349.14.
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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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