NetEase, Inc. (NTES) Trading Down 6.4%

NetEase, Inc. (NASDAQ:NTES) dropped 6.4% during mid-day trading on Monday . The company traded as low as $338.52 and last traded at $344.07. Approximately 3,479,168 shares were traded during trading, an increase of 169% from the average daily volume of 1,291,054 shares. The stock had previously closed at $367.50.

NTES has been the topic of a number of recent research reports. Zacks Investment Research downgraded NetEase from a “buy” rating to a “hold” rating in a research report on Tuesday, August 8th. Deutsche Bank AG set a $325.00 price objective on NetEase and gave the company a “buy” rating in a research report on Friday, October 6th. ValuEngine upgraded NetEase from a “hold” rating to a “buy” rating in a research report on Friday, November 10th. Barclays PLC initiated coverage on NetEase in a research report on Wednesday, October 4th. They set an “equal weight” rating and a $260.00 price objective on the stock. Finally, UBS AG downgraded NetEase from a “buy” rating to a “neutral” rating in a research report on Monday, October 30th. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating and nine have given a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $320.38.

The stock has a market cap of $45,840.00, a price-to-earnings ratio of 24.47, a price-to-earnings-growth ratio of 1.55 and a beta of 0.93.

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 8th. Stockholders of record on Friday, December 1st will be issued a $0.717 dividend. The ex-dividend date is Thursday, November 30th. This represents a $2.87 annualized dividend and a dividend yield of 0.83%. NetEase’s payout ratio is 24.73%.

NetEase declared that its Board of Directors has initiated a stock repurchase program on Wednesday, November 15th that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the technology company to buy shares of its stock through open market purchases. Shares repurchase programs are typically an indication that the company’s leadership believes its shares are undervalued.

Large investors have recently made changes to their positions in the stock. IFP Advisors Inc grew its stake in NetEase by 21.4% in the second quarter. IFP Advisors Inc now owns 391 shares of the technology company’s stock worth $118,000 after purchasing an additional 69 shares in the last quarter. Ladenburg Thalmann Financial Services Inc. grew its stake in NetEase by 117.6% in the third quarter. Ladenburg Thalmann Financial Services Inc. now owns 494 shares of the technology company’s stock worth $131,000 after purchasing an additional 267 shares in the last quarter. PNC Financial Services Group Inc. grew its stake in NetEase by 22.4% in the second quarter. PNC Financial Services Group Inc. now owns 536 shares of the technology company’s stock worth $161,000 after purchasing an additional 98 shares in the last quarter. Mariner Wealth Advisors LLC bought a new position in NetEase in the second quarter worth approximately $203,000. Finally, Huntington National Bank grew its stake in NetEase by 84.7% in the second quarter. Huntington National Bank now owns 700 shares of the technology company’s stock worth $210,000 after purchasing an additional 321 shares in the last quarter. 50.70% of the stock is currently owned by institutional investors.

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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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