NetEase (NASDAQ:NTES) Upgraded to Overweight at Morgan Stanley

Morgan Stanley upgraded shares of NetEase (NASDAQ:NTES) from an equal weight rating to an overweight rating in a research report report published on Wednesday morning, MarketBeat reports. They currently have $108.00 price objective on the technology company’s stock, up from their previous price objective of $90.00.

Other equities research analysts also recently issued research reports about the stock. Benchmark dropped their target price 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. StockNews.com lowered NetEase from a “strong-buy” rating to a “buy” rating in a report on Friday, December 6th. Finally, Citigroup increased their target price on NetEase from $108.00 to $115.00 and gave the stock a “buy” rating in a report on Friday, November 15th. One research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $108.43.

NetEase Price Performance

NASDAQ:NTES opened at $92.28 on Wednesday. NetEase has a 12 month low of $75.85 and a 12 month high of $114.50. The business’s 50-day moving average is $88.02 and its two-hundred day moving average is $87.80. The firm has a market capitalization of $59.26 billion, a PE ratio of 15.59, a price-to-earnings-growth ratio of 3.53 and a beta of 0.57.

NetEase Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, December 13th. Investors of record on Friday, November 29th were given a $0.435 dividend. The ex-dividend date was Friday, November 29th. This represents a $1.74 dividend on an annualized basis and a dividend yield of 1.89%. NetEase’s dividend payout ratio (DPR) is 29.22%.

Institutional Trading of NetEase

A number of hedge funds have recently bought and sold shares of NTES. APEIRON CAPITAL Ltd raised its holdings in shares of NetEase by 20.5% during the fourth quarter. APEIRON CAPITAL Ltd now owns 129,321 shares of the technology company’s stock valued at $11,537,000 after acquiring an additional 22,000 shares during the period. Franklin Resources Inc. grew its position in NetEase by 7.9% during the third quarter. Franklin Resources Inc. now owns 6,915 shares of the technology company’s stock valued at $588,000 after purchasing an additional 507 shares in the last quarter. World Investment Advisors LLC acquired a new position in NetEase in the 3rd quarter valued at approximately $4,138,000. Sanctuary Advisors LLC lifted its position in NetEase by 5.6% in the 3rd quarter. Sanctuary Advisors LLC now owns 13,245 shares of the technology company’s stock worth $1,145,000 after buying an additional 701 shares in the last quarter. Finally, Advisory Resource Group boosted its stake in shares of NetEase by 22.0% during the 3rd quarter. Advisory Resource Group now owns 12,626 shares of the technology company’s stock valued at $1,181,000 after buying an additional 2,281 shares during the period. 11.07% of the stock is owned by hedge funds and other institutional investors.

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.