NetEase (NASDAQ:NTES) Upgraded to “Strong-Buy” at Zacks Research

Zacks Research upgraded shares of NetEase (NASDAQ:NTES) from a hold rating to a strong-buy rating in a report issued on Monday morning,Zacks.com reports.

Other analysts have also recently issued research reports about the stock. Benchmark reiterated a “buy” rating on shares of NetEase in a research note on Friday, May 22nd. Morgan Stanley reiterated an “overweight” rating and issued a $158.00 price target on shares of NetEase in a research note on Tuesday, May 26th. Nomura cut their price target on shares of NetEase from $160.00 to $155.00 and set a “buy” rating for the company in a research note on Friday, February 13th. Barclays cut their price target on shares of NetEase from $135.00 to $132.00 and set an “equal weight” rating for the company in a research note on Thursday, February 12th. Finally, Wall Street Zen upgraded shares of NetEase from a “hold” rating to a “buy” rating in a research note on Saturday, May 23rd. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $157.38.

NetEase Price Performance

Shares of NTES stock opened at $120.73 on Monday. The stock has a market cap of $77.08 billion, a P/E ratio of 16.03, a P/E/G ratio of 1.54 and a beta of 0.72. The company has a fifty day moving average price of $116.27 and a two-hundred day moving average price of $124.61. NetEase has a one year low of $106.06 and a one year high of $159.55.

NetEase Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 18th. Stockholders of record on Friday, June 5th will be paid a dividend of $0.72 per share. This represents a $2.88 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date is Friday, June 5th. NetEase’s dividend payout ratio (DPR) is currently 38.11%.

Institutional Trading of NetEase

Hedge funds have recently modified their holdings of the stock. V Square Quantitative Management LLC acquired a new stake in shares of NetEase during the 1st quarter worth about $25,000. Atlas Capital Advisors Inc. acquired a new stake in shares of NetEase during the 4th quarter worth about $47,000. Harbour Investments Inc. lifted its stake in shares of NetEase by 7,480.0% during the 4th quarter. Harbour Investments Inc. now owns 379 shares of the technology company’s stock worth $52,000 after buying an additional 374 shares during the last quarter. Smartleaf Asset Management LLC lifted its stake in shares of NetEase by 3,381.8% during the 2nd quarter. Smartleaf Asset Management LLC now owns 383 shares of the technology company’s stock worth $51,000 after buying an additional 372 shares during the last quarter. Finally, MidFirst Bank acquired a new stake in shares of NetEase during the 4th quarter worth about $57,000. Institutional investors and hedge funds own 11.07% of the company’s stock.

About NetEase

NetEase, Inc (NASDAQ: NTES) is a Chinese technology company headquartered in Hangzhou that develops and operates Internet services and products. Founded in 1997 by William Ding (Ding Lei), the company has grown from an early web portal and e-mail provider into a diversified online services group. William Ding has served as the company’s founder and long-time leader, guiding its expansion into games, digital content and consumer services.

The company’s primary business is interactive entertainment: NetEase Games designs, develops and publishes PC and mobile games for domestic and international audiences, offering a mix of self-developed franchises and titles published under licensing and strategic partnerships.