Shelton Capital Management Cuts Holdings in NetEase Inc (NTES)
Shelton Capital Management trimmed its holdings in shares of NetEase Inc (NASDAQ:NTES) by 40.0% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 6,852 shares of the technology company’s stock after selling 4,569 shares during the quarter. Shelton Capital Management’s holdings in NetEase were worth $1,808,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Renaissance Group LLC increased its position in shares of NetEase by 3.3% during the second quarter. Renaissance Group LLC now owns 51,703 shares of the technology company’s stock worth $15,543,000 after acquiring an additional 1,656 shares during the last quarter. Aberdeen Asset Management PLC UK increased its holdings in NetEase by 64.7% in the second quarter. Aberdeen Asset Management PLC UK now owns 72,450 shares of the technology company’s stock valued at $21,781,000 after buying an additional 28,450 shares during the last quarter. Stifel Financial Corp increased its holdings in NetEase by 25.9% in the second quarter. Stifel Financial Corp now owns 3,032 shares of the technology company’s stock valued at $919,000 after buying an additional 624 shares during the last quarter. First Trust Advisors LP increased its holdings in NetEase by 9.5% in the third quarter. First Trust Advisors LP now owns 319,517 shares of the technology company’s stock valued at $84,292,000 after buying an additional 27,771 shares during the last quarter. Finally, Fox Run Management L.L.C. increased its holdings in NetEase by 228.6% in the third quarter. Fox Run Management L.L.C. now owns 2,300 shares of the technology company’s stock valued at $607,000 after buying an additional 1,600 shares during the last quarter. 50.54% of the stock is currently owned by institutional investors and hedge funds.
NTES has been the subject of several research analyst reports. Vetr lowered NetEase from a “strong-buy” rating to a “buy” rating and set a $327.04 price objective for the company. in a report on Monday, September 18th. Deutsche Bank set a $325.00 target price on NetEase and gave the company a “buy” rating in a research note on Friday, October 6th. Barclays started coverage on NetEase in a research note on Wednesday, October 4th. They issued an “equal weight” rating and a $260.00 target price for the company. Jefferies Group downgraded NetEase from a “buy” rating to a “hold” rating and decreased their target price for the company from $330.00 to $290.00 in a research note on Tuesday, October 3rd. Finally, Bank of America lifted their target price on NetEase from $347.00 to $361.00 and gave the company a “buy” rating in a research note on Friday, November 17th. Four research analysts have rated the stock with a sell rating, seven have issued a hold rating and eight have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $327.05.
Shares of NetEase Inc (NASDAQ NTES) opened at $356.43 on Friday. The firm has a market capitalization of $47,265.73, a P/E ratio of 23.82, a price-to-earnings-growth ratio of 2.01 and a beta of 0.93. NetEase Inc has a 52-week low of $211.11 and a 52-week high of $375.10.
The business also recently declared a quarterly dividend, which was paid on Friday, December 8th. Shareholders of record on Friday, December 1st were issued a $0.717 dividend. The ex-dividend date of this dividend was Thursday, November 30th. This represents a $2.87 annualized dividend and a dividend yield of 0.80%. NetEase’s dividend payout ratio is currently 25.09%.
NetEase declared that its board has initiated a stock buyback plan on Wednesday, November 15th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the technology company to reacquire shares of its stock through open market purchases. Shares repurchase plans are usually a sign that the company’s board believes its shares are undervalued.
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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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