NetEase (NASDAQ:NTES) Cut to Buy at StockNews.com

StockNews.com downgraded shares of NetEase (NASDAQ:NTES) from a strong-buy rating to a buy rating in a research note published on Friday.

Several other analysts have also recently commented on the stock. 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 research note on Thursday, August 22nd. Benchmark lowered their target price on shares of NetEase from $120.00 to $105.00 and set a “buy” rating for the company in a research note on Friday, November 15th. Barclays lowered their target price on shares of NetEase from $104.00 to $82.00 and set an “equal weight” rating for the company in a research note on Monday, August 26th. Citigroup lifted their price target on shares of NetEase from $108.00 to $115.00 and gave the company a “buy” rating in a report on Friday, November 15th. Finally, Bank of America decreased their price target on shares of NetEase from $142.00 to $120.00 and set a “buy” rating on the stock in a report on Friday, August 23rd. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $107.29.

NetEase Trading Up 1.0 %

Shares of NetEase stock opened at $91.29 on Friday. NetEase has a 12-month low of $75.85 and a 12-month high of $114.50. The stock has a market cap of $58.62 billion, a PE ratio of 15.42, a price-to-earnings-growth ratio of 3.36 and a beta of 0.57. The company has a 50-day moving average of $85.85 and a two-hundred day moving average of $87.66.

NetEase Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 29th will be issued a $0.435 dividend. The ex-dividend date is Friday, November 29th. This represents a $1.74 dividend on an annualized basis and a yield of 1.91%. NetEase’s dividend payout ratio is currently 29.22%.

Institutional Investors Weigh In On NetEase

Hedge funds and other institutional investors have recently modified their holdings of the stock. Guinness Asset Management LTD increased its position in shares of NetEase by 16.7% in the 3rd quarter. Guinness Asset Management LTD now owns 86,741 shares of the technology company’s stock worth $8,111,000 after purchasing an additional 12,410 shares during the last quarter. Assenagon Asset Management S.A. grew its position in shares of NetEase by 65.8% during the 2nd quarter. Assenagon Asset Management S.A. now owns 772,242 shares of the technology company’s stock valued at $73,811,000 after buying an additional 306,500 shares during the last quarter. Legacy Capital Group California Inc. bought a new stake in shares of NetEase during the 2nd quarter valued at about $267,000. Assetmark Inc. grew its position in shares of NetEase by 27.3% during the 3rd quarter. Assetmark Inc. now owns 38,469 shares of the technology company’s stock valued at $3,597,000 after buying an additional 8,248 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its position in shares of NetEase by 15.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 569,633 shares of the technology company’s stock valued at $54,502,000 after buying an additional 76,446 shares during the last quarter. 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.