CIBC World Markets Inc. Purchases New Stake in NetEase Inc. (NTES)
CIBC World Markets Inc. bought a new position in NetEase Inc. (NASDAQ:NTES) during the third quarter, Holdings Channel reports. The institutional investor bought 9,029 shares of the company’s stock, valued at approximately $2,174,000.
Several other large investors have also recently bought and sold shares of NTES. AXA increased its stake in NetEase by 60.0% in the second quarter. AXA now owns 800 shares of the company’s stock worth $155,000 after buying an additional 300 shares in the last quarter. Nippon Life Insurance Co. increased its stake in shares of NetEase by 8.9% in the third quarter. Nippon Life Insurance Co. now owns 783 shares of the company’s stock worth $189,000 after buying an additional 64 shares during the period. Advisor Group Inc. bought a new stake in shares of NetEase during the second quarter worth about $200,000. HBK Sorce Advisory LLC bought a new stake in shares of NetEase during the second quarter worth about $232,000. Finally, Janney Montgomery Scott LLC bought a new stake in shares of NetEase during the second quarter worth about $236,000. Institutional investors own 55.88% of the company’s stock.
Shares of NetEase Inc. (NASDAQ:NTES) traded down 0.75% on Tuesday, reaching $230.04. The company had a trading volume of 1,015,312 shares. NetEase Inc. has a 1-year low of $129.60 and a 1-year high of $272.58. The company’s 50 day moving average price is $0.00 and its 200-day moving average price is $0.00.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 2nd. Shareholders of record on Friday, November 25th will be paid a $0.78 dividend. This represents a $3.12 dividend on an annualized basis and a yield of 1.36%. The ex-dividend date of this dividend is Tuesday, November 22nd. NetEase’s dividend payout ratio (DPR) is 25.15%.
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A number of equities research analysts have issued reports on the company. Brean Capital upped their price objective on NetEase from $235.00 to $310.00 and gave the company a “buy” rating in a research report on Thursday, November 10th. Jefferies Group restated a “hold” rating and set a $245.00 price objective on shares of NetEase in a research report on Thursday, November 10th. Vetr downgraded NetEase from a “buy” rating to a “hold” rating and set a $212.23 price objective on the stock. in a research report on Monday, August 15th. Morgan Stanley upped their price objective on NetEase from $195.00 to $233.00 and gave the company an “overweight” rating in a research report on Thursday, November 10th. Finally, Zacks Investment Research downgraded NetEase from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 15th. One research analyst has rated the stock with a sell rating, two have given a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $257.61.
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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