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

StockNews.com lowered shares of NetEase (NASDAQ:NTES) from a strong-buy rating to a buy rating in a report issued on Friday morning.

Other research analysts have also issued research reports about the stock. Benchmark dropped their price objective on shares of NetEase from $120.00 to $105.00 and set a “buy” rating on the stock in a research note on Friday, November 15th. Citigroup increased their price target on shares of NetEase from $108.00 to $115.00 and gave the stock a “buy” rating in a research note on Friday, November 15th. Barclays dropped 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. Bank of America dropped their price target on shares of NetEase from $142.00 to $120.00 and set a “buy” rating on the stock in a research note on Friday, August 23rd. Finally, Jefferies Financial Group dropped their price target on shares of NetEase from $126.00 to $103.00 and set a “buy” rating on the stock in a research note on Thursday, August 22nd. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $107.29.

NetEase Price Performance

NTES stock opened at $91.29 on Friday. NetEase has a 52-week low of $75.85 and a 52-week high of $114.50. The company’s 50 day simple moving average is $85.85 and its 200-day simple moving average is $87.66. The firm has a market capitalization of $58.62 billion, a P/E ratio of 15.42, a P/E/G ratio of 3.36 and a beta of 0.57.

NetEase Dividend Announcement

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

Institutional Investors Weigh In On NetEase

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