NetEase (NASDAQ:NTES) Upgraded at StockNews.com

StockNews.com upgraded shares of NetEase (NASDAQ:NTES) from a buy rating to a strong-buy rating in a research report sent to investors on Thursday.

A number of other equities analysts also recently weighed in on NTES. Barclays cut their price target on shares of NetEase from $104.00 to $82.00 and set an “equal weight” rating on the stock in a research note on Monday, August 26th. Citigroup lifted their target price on NetEase from $108.00 to $115.00 and gave the company a “buy” rating in a report on Friday, November 15th. Benchmark dropped their price target on NetEase from $120.00 to $105.00 and set a “buy” rating for the company in a research note on Friday, November 15th. Bank of America cut their price objective on NetEase from $142.00 to $120.00 and set a “buy” rating on the stock in a report on Friday, August 23rd. Finally, Jefferies Financial Group decreased their target price on NetEase from $126.00 to $103.00 and set a “buy” rating for the company in a report on Thursday, August 22nd. Two investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $107.29.

NetEase Stock Performance

NTES stock opened at $87.48 on Thursday. NetEase has a one year low of $75.85 and a one year high of $114.50. The stock has a market capitalization of $56.18 billion, a P/E ratio of 14.78, a PEG ratio of 3.23 and a beta of 0.57. The company has a 50 day moving average price of $85.61 and a two-hundred day moving average price of $88.08.

NetEase Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 29th will be given a $0.435 dividend. This represents a $1.74 annualized dividend and a yield of 1.99%. The ex-dividend date is Friday, November 29th. NetEase’s dividend payout ratio is currently 29.22%.

Hedge Funds Weigh In On NetEase

Several large investors have recently bought and sold shares of NTES. Sequoia Financial Advisors LLC boosted its stake in NetEase by 4.3% during the second quarter. Sequoia Financial Advisors LLC now owns 2,575 shares of the technology company’s stock valued at $246,000 after buying an additional 107 shares in the last quarter. Guinness Atkinson Asset Management Inc grew its stake in shares of NetEase by 0.7% in the 2nd quarter. Guinness Atkinson Asset Management Inc now owns 15,422 shares of the technology company’s stock worth $1,474,000 after purchasing an additional 110 shares during the last quarter. SYSTM Wealth Solutions LLC raised its holdings in shares of NetEase by 55.5% in the 2nd quarter. SYSTM Wealth Solutions LLC now owns 328 shares of the technology company’s stock worth $31,000 after purchasing an additional 117 shares in the last quarter. Fifth Third Bancorp lifted its stake in NetEase by 1.9% during the second quarter. Fifth Third Bancorp now owns 7,658 shares of the technology company’s stock valued at $732,000 after purchasing an additional 146 shares during the last quarter. Finally, State Street Corp boosted its holdings in NetEase by 0.3% during the third quarter. State Street Corp now owns 56,729 shares of the technology company’s stock worth $5,305,000 after buying an additional 156 shares in the last quarter. Institutional investors and hedge funds own 11.07% of the company’s stock.

About NetEase

NetEase, Inc engages in online games, music streaming, online intelligent learning services, and internet content services businesses in China and internationally . The company operates through Games and Related Value-Added Services, Youdao, Cloud Music, and Innovative Businesses and Others segments.