NetEase (NASDAQ:NTES) Rating Increased to Overweight at Morgan Stanley

Morgan Stanley upgraded shares of NetEase (NASDAQ:NTES) from an equal weight rating to an overweight rating in a report published on Wednesday, MarketBeat.com reports. They currently have $108.00 target price on the technology company’s stock, up from their prior target price of $90.00.

Other equities analysts have also recently issued research reports about the company. StockNews.com cut NetEase from a “strong-buy” rating to a “buy” rating in a report on Friday, December 6th. 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. Finally, Citigroup lifted their price objective on shares of NetEase from $108.00 to $115.00 and gave the company a “buy” rating in a report on Friday, November 15th. One investment analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, NetEase has an average rating of “Moderate Buy” and an average price target of $108.43.

NetEase Price Performance

Shares of NASDAQ NTES opened at $91.11 on Wednesday. NetEase has a 1 year low of $75.85 and a 1 year high of $114.50. The firm has a 50-day simple moving average of $88.50 and a two-hundred day simple moving average of $87.83. The company has a market cap of $58.51 billion, a P/E ratio of 15.39, a PEG ratio of 3.53 and a beta of 0.57.

NetEase Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, December 13th. Shareholders of record on Friday, November 29th were given a dividend of $0.435 per share. This represents a $1.74 dividend on an annualized basis and a yield of 1.91%. The ex-dividend date was Friday, November 29th. NetEase’s dividend payout ratio (DPR) is 29.22%.

Institutional Investors Weigh In On NetEase

Several hedge funds have recently modified their holdings of NTES. APEIRON CAPITAL Ltd raised its stake in NetEase by 20.5% in the fourth quarter. APEIRON CAPITAL Ltd now owns 129,321 shares of the technology company’s stock worth $11,537,000 after buying an additional 22,000 shares in the last quarter. Franklin Resources Inc. raised its position in shares of NetEase by 7.9% in the 3rd quarter. Franklin Resources Inc. now owns 6,915 shares of the technology company’s stock worth $588,000 after acquiring an additional 507 shares in the last quarter. World Investment Advisors LLC bought a new position in shares of NetEase in the 3rd quarter worth $4,138,000. Sanctuary Advisors LLC lifted its stake in shares of NetEase by 5.6% during the 3rd quarter. Sanctuary Advisors LLC now owns 13,245 shares of the technology company’s stock worth $1,145,000 after purchasing an additional 701 shares during the last quarter. Finally, Advisory Resource Group boosted its position in NetEase by 22.0% during the third quarter. Advisory Resource Group now owns 12,626 shares of the technology company’s stock valued at $1,181,000 after purchasing an additional 2,281 shares in the last quarter. Hedge funds and other 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.