NetEase, Inc. (NTES) is BARING ASSET MANAGEMENT Ltd’s 7th Largest Position
BARING ASSET MANAGEMENT Ltd boosted its position in NetEase, Inc. (NASDAQ:NTES) by 55.1% during the second quarter, Holdings Channel reports. The institutional investor owned 167,321 shares of the technology company’s stock after buying an additional 59,449 shares during the period. NetEase makes up approximately 3.3% of BARING ASSET MANAGEMENT Ltd’s portfolio, making the stock its 7th largest position. BARING ASSET MANAGEMENT Ltd’s holdings in NetEase were worth $50,302,000 as of its most recent SEC filing.
A number of other institutional investors have also recently added to or reduced their stakes in NTES. Assetmark Inc. increased 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 valued at $104,000 after buying an additional 124 shares during the period. IFP Advisors Inc increased its position in shares of NetEase by 21.4% in the second quarter. IFP Advisors Inc now owns 391 shares of the technology company’s stock valued at $118,000 after buying an additional 69 shares during the period. Huntington National Bank increased its position in shares of NetEase by 84.7% in the second quarter. Huntington National Bank now owns 700 shares of the technology company’s stock valued at $210,000 after buying an additional 321 shares during the period. Howe & Rusling Inc. increased 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 valued at $203,000 after buying an additional 48 shares during the period. Finally, Private Advisory Group LLC bought a new position in shares of NetEase during the first quarter valued at approximately $205,000. Hedge funds and other institutional investors own 55.88% of the company’s stock.
NetEase, Inc. (NASDAQ NTES) opened at 282.32 on Wednesday. NetEase, Inc. has a 12 month low of $199.01 and a 12 month high of $337.55.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 1st. Investors of record on Friday, August 25th will be issued a dividend of $0.83 per share. This represents a $3.32 dividend on an annualized basis and a dividend yield of 1.20%. The ex-dividend date of this dividend is Wednesday, August 23rd. NetEase’s payout ratio is presently 24.73%.
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Several equities analysts have commented on NTES shares. Zacks Investment Research downgraded NetEase from a “buy” rating to a “hold” rating in a report on Tuesday, August 8th. Instinet downgraded NetEase from a “buy” rating to a “neutral” rating and lowered their price target for the company from $307.00 to $297.00 in a report on Thursday, May 11th. BidaskClub upgraded NetEase from a “hold” rating to a “buy” rating in a report on Friday, July 14th. Jefferies Group LLC reiterated a “buy” rating and set a $330.00 price target on shares of NetEase in a report on Friday, June 16th. Finally, Standpoint Research downgraded NetEase from a “buy” rating to a “reduce” rating and increased their price target for the company from $345.00 to $360.00 in a report on Wednesday, June 7th. Four research analysts have rated the stock with a sell rating, five have given a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $301.90.
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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