NetEase (NASDAQ:NTES) Stock Rating Upgraded by Arete

Arete upgraded shares of NetEase (NASDAQ:NTES) from a sell rating to a buy rating in a research report released on Wednesday morning, MarketBeat Ratings reports. The brokerage currently has $150.00 target price on the technology company’s stock.

A number of other equities analysts also recently issued reports on NTES. Barclays set a $120.00 price target on shares of NetEase and gave the stock an “equal weight” rating in a research note on Monday, August 18th. JPMorgan Chase & Co. downgraded shares of NetEase from an “overweight” rating to a “neutral” rating and raised their target price for the company from $135.00 to $140.00 in a research note on Monday, July 28th. Zacks Research downgraded shares of NetEase from a “strong-buy” rating to a “hold” rating in a research note on Friday, August 15th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of NetEase in a research note on Monday, May 12th. They set a “buy” rating and a $130.00 target price for the company. Finally, Wall Street Zen raised shares of NetEase from a “buy” rating to a “strong-buy” rating in a research note on Saturday, August 30th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, NetEase presently has an average rating of “Moderate Buy” and a consensus price target of $128.78.

NetEase Trading Up 0.8%

Shares of NASDAQ:NTES opened at $134.27 on Wednesday. The company has a market cap of $85.07 billion, a price-to-earnings ratio of 18.17, a price-to-earnings-growth ratio of 1.78 and a beta of 0.67. The company has a 50-day moving average price of $132.85 and a 200-day moving average price of $117.99. NetEase has a 12 month low of $75.85 and a 12 month high of $141.45.

NetEase Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 11th. Stockholders of record on Thursday, August 28th will be issued a dividend of $0.675 per share. The ex-dividend date is Thursday, August 28th. This represents a $2.70 dividend on an annualized basis and a dividend yield of 2.0%. NetEase’s dividend payout ratio is presently 30.72%.

Institutional Investors Weigh In On NetEase

A number of institutional investors have recently made changes to their positions in the company. Ninety One UK Ltd grew its holdings in shares of NetEase by 2.2% during the second quarter. Ninety One UK Ltd now owns 6,267,769 shares of the technology company’s stock valued at $843,516,000 after buying an additional 134,967 shares during the last quarter. Lazard Asset Management LLC grew its holdings in shares of NetEase by 2.0% during the fourth quarter. Lazard Asset Management LLC now owns 3,599,794 shares of the technology company’s stock valued at $321,137,000 after buying an additional 69,789 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of NetEase by 7,698.2% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,817,021 shares of the technology company’s stock valued at $289,928,000 after buying an additional 2,780,897 shares during the last quarter. Dodge & Cox grew its holdings in shares of NetEase by 5.8% during the first quarter. Dodge & Cox now owns 2,803,664 shares of the technology company’s stock valued at $288,553,000 after buying an additional 153,788 shares during the last quarter. Finally, Hhlr Advisors LTD. grew its holdings in shares of NetEase by 3.1% during the first quarter. Hhlr Advisors LTD. now owns 2,668,697 shares of the technology company’s stock valued at $274,662,000 after buying an additional 79,754 shares during the last quarter. Hedge funds and other institutional investors own 11.07% of the company’s stock.

NetEase Company Profile

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.