NetEase (NASDAQ:NTES) Upgraded by StockNews.com to “Strong-Buy” Rating

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 morning.

NTES has been the topic of several other reports. Bank of America dropped their price target on NetEase from $142.00 to $120.00 and set a “buy” rating on the stock in a research report on Friday, August 23rd. Barclays reduced their target price on shares of NetEase from $104.00 to $82.00 and set an “equal weight” rating on the stock in a research report on Monday, August 26th. Benchmark lowered their price target on shares of NetEase from $120.00 to $105.00 and set a “buy” rating for the company in a research report on Friday, November 15th. Citigroup upped their price objective on shares of NetEase from $108.00 to $115.00 and gave the stock a “buy” rating in a report on Friday, November 15th. Finally, Jefferies Financial Group lowered their target price on shares of NetEase from $126.00 to $103.00 and set a “buy” rating for the company in a report on Thursday, August 22nd. Two 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. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $107.29.

NetEase Price Performance

NTES stock opened at $86.56 on Thursday. The firm has a 50-day moving average of $85.44 and a 200 day moving average of $88.31. The company has a market cap of $55.59 billion, a P/E ratio of 14.62, a PEG ratio of 3.16 and a beta of 0.57. NetEase has a 1 year low of $75.85 and a 1 year high of $115.00.

NetEase Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 29th will be issued a dividend of $0.435 per share. This represents a $1.74 dividend on an annualized basis and a dividend yield of 2.01%. The ex-dividend date of this dividend is Friday, November 29th. NetEase’s payout ratio is 29.22%.

Hedge Funds Weigh In On NetEase

A number of hedge funds have recently added to or reduced their stakes in the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of NetEase by 13,747.9% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 6,258,442 shares of the technology company’s stock worth $585,227,000 after purchasing an additional 6,213,248 shares in the last quarter. Hhlr Advisors LTD. boosted its position in shares of NetEase by 86.8% during the third quarter. Hhlr Advisors LTD. now owns 2,588,943 shares of the technology company’s stock valued at $242,092,000 after buying an additional 1,203,129 shares during the last quarter. Massachusetts Financial Services Co. MA increased its holdings in NetEase by 6.5% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 1,692,705 shares of the technology company’s stock worth $161,789,000 after buying an additional 103,102 shares in the last quarter. Point72 Hong Kong Ltd raised its position in NetEase by 109.0% in the 2nd quarter. Point72 Hong Kong Ltd now owns 1,213,323 shares of the technology company’s stock worth $115,969,000 after buying an additional 632,896 shares during the last quarter. Finally, Fisher Asset Management LLC lifted its stake in NetEase by 7.8% during the 3rd quarter. Fisher Asset Management LLC now owns 1,145,657 shares of the technology company’s stock valued at $107,130,000 after acquiring an additional 82,474 shares during the period. 11.07% of the stock is currently owned by hedge funds and other institutional investors.

NetEase Company Profile

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.