NetEase (NASDAQ:NTES) Rating Increased to Strong-Buy at Wall Street Zen

Wall Street Zen upgraded shares of NetEase (NASDAQ:NTES) from a buy rating to a strong-buy rating in a research report report published on Friday.

A number of other research firms have also issued reports on NTES. The Goldman Sachs Group set a $161.00 target price on NetEase and gave the company a “buy” rating in a report on Monday, September 15th. Weiss Ratings restated a “hold (c)” rating on shares of NetEase in a report on Saturday, September 27th. Barclays set a $120.00 target price on NetEase and gave the company an “equal weight” rating in a report on Monday, August 18th. Zacks Research lowered NetEase from a “strong-buy” rating to a “hold” rating in a report on Friday, August 15th. Finally, JPMorgan Chase & Co. lowered NetEase from an “overweight” rating to a “neutral” rating and increased their target price for the company from $135.00 to $140.00 in a report on Monday, July 28th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, NetEase currently has an average rating of “Moderate Buy” and an average price target of $132.00.

NetEase Stock Down 1.1%

Shares of NASDAQ NTES opened at $151.57 on Friday. NetEase has a 12 month low of $75.88 and a 12 month high of $159.55. The company has a market cap of $96.03 billion, a price-to-earnings ratio of 20.51, a P/E/G ratio of 2.04 and a beta of 0.67. The business has a fifty day simple moving average of $139.82 and a 200-day simple moving average of $124.82.

NetEase Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, September 11th. Stockholders of record on Thursday, August 28th were paid a $0.675 dividend. The ex-dividend date of this dividend was Thursday, August 28th. This represents a $2.70 dividend on an annualized basis and a dividend yield of 1.8%. NetEase’s dividend payout ratio is 30.72%.

Hedge Funds Weigh In On NetEase

A number of hedge funds have recently modified their holdings of NTES. NewSquare Capital LLC increased its stake in shares of NetEase by 137.2% in the second quarter. NewSquare Capital LLC now owns 185 shares of the technology company’s stock worth $25,000 after acquiring an additional 107 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC acquired a new position in NetEase during the first quarter worth $26,000. Private Trust Co. NA increased its position in NetEase by 266.0% during the second quarter. Private Trust Co. NA now owns 194 shares of the technology company’s stock worth $26,000 after buying an additional 141 shares during the last quarter. USA Financial Formulas acquired a new position in NetEase during the second quarter worth $30,000. Finally, Mather Group LLC. increased its position in NetEase by 1,415.0% during the first quarter. Mather Group LLC. now owns 303 shares of the technology company’s stock worth $31,000 after buying an additional 283 shares during the last quarter. 11.07% of the stock is owned by institutional investors and hedge funds.

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.