Raymond James Financial Services Advisors Inc. increased its holdings in shares of NetEase Inc (NASDAQ:NTES) by 133.6% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,691 shares of the technology company’s stock after purchasing an additional 967 shares during the period. Raymond James Financial Services Advisors Inc.’s holdings in NetEase were worth $446,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes 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 valued at $118,000 after acquiring an additional 69 shares during the period. 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 valued at $161,000 after acquiring an additional 98 shares during the period. Mariner Wealth Advisors LLC acquired a new stake in NetEase in the second quarter valued at approximately $203,000. Hikari Power Ltd acquired a new stake in NetEase in the second quarter valued at approximately $210,000. Finally, Yorktown Management & Research Co Inc bought a new position in shares of NetEase in the second quarter valued at approximately $210,000. 50.54% of the stock is owned by institutional investors and hedge funds.

NTES has been the topic of a number of recent research reports. Deutsche Bank set a $325.00 target price on NetEase and gave the company a “buy” rating in a report on Friday, October 6th. ValuEngine upgraded NetEase from a “hold” rating to a “buy” rating in a report on Friday, November 10th. Barclays initiated coverage on NetEase in a report on Wednesday, October 4th. They issued an “equal weight” rating and a $260.00 target price on the stock. Zacks Investment Research upgraded NetEase from a “strong sell” rating to a “hold” rating in a report on Wednesday, October 11th. Finally, Nomura upgraded NetEase from a “neutral” rating to a “buy” rating and raised their target price for the company from $297.00 to $428.00 in a report on Friday, November 17th. Four investment analysts have rated the stock with a sell rating, seven have given a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. NetEase currently has a consensus rating of “Hold” and an average target price of $326.95.

Shares of NetEase Inc (NASDAQ:NTES) opened at $318.28 on Thursday. The company has a market capitalization of $42,006.80, a price-to-earnings ratio of 21.17, a P/E/G ratio of 1.78 and a beta of 0.93. NetEase Inc has a fifty-two week low of $211.11 and a fifty-two week high of $375.10.

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 8th. Investors of record on Friday, December 1st will be issued a dividend of $0.717 per share. The ex-dividend date of this dividend is Thursday, November 30th. This represents a $2.87 dividend on an annualized basis and a yield of 0.90%. NetEase’s dividend payout ratio (DPR) is currently 25.09%.

NetEase announced that its Board of Directors has approved a share buyback program on Wednesday, November 15th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the technology company to repurchase shares of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s management believes its stock is undervalued.

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About NetEase

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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Institutional Ownership by Quarter for NetEase (NASDAQ:NTES)

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