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.

Institutional Ownership by Quarter for NetEase (NASDAQ:NTES)

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%.

COPYRIGHT VIOLATION NOTICE: “CIBC World Markets Inc. Purchases New Stake in NetEase Inc. (NTES)” was first reported by Financial Market News and is owned by of Financial Market News. If you are accessing this piece on another domain, it was copied illegally and republished in violation of international trademark & copyright legislation. The correct version of this piece can be accessed at http://www.financial-market-news.com/cibc-world-markets-inc-purchases-new-stake-in-netease-inc-ntes/1209277/.

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.

5 Day Chart for NASDAQ:NTES

Want to see what other hedge funds are holding NTES? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for NetEase Inc. (NASDAQ:NTES).

Receive News & Ratings for NetEase Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for NetEase Inc. and related companies with MarketBeat.com's FREE daily email newsletter.