StockNews.com Upgrades NetEase (NASDAQ:NTES) to Strong-Buy

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

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

NetEase Stock Performance

NTES stock opened at $86.56 on Thursday. The business’s 50-day moving average is $85.44 and its two-hundred day moving average is $88.31. The company has a market cap of $55.59 billion, a price-to-earnings ratio of 14.62, a P/E/G ratio of 3.16 and a beta of 0.57. NetEase has a fifty-two week low of $75.85 and a fifty-two week high of $115.00.

NetEase Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 29th will be paid a $0.435 dividend. 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 dividend payout ratio (DPR) is 29.22%.

Institutional Trading of NetEase

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Mather Group LLC. boosted its stake in NetEase by 1,415.0% in the 2nd quarter. Mather Group LLC. now owns 303 shares of the technology company’s stock worth $31,000 after purchasing an additional 283 shares during the period. SYSTM Wealth Solutions LLC boosted its position in shares of NetEase by 55.5% during the second quarter. SYSTM Wealth Solutions LLC now owns 328 shares of the technology company’s stock worth $31,000 after acquiring an additional 117 shares during the last quarter. Ariadne Wealth Management LP purchased a new position in NetEase during the second quarter valued at $35,000. Highline Wealth Partners LLC purchased a new position in NetEase during the third quarter valued at $45,000. Finally, RPg Family Wealth Advisory LLC bought a new stake in NetEase in the 3rd quarter valued at $70,000. Institutional investors 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.