NetEase Inc. (NTES) Raised to Buy at Jefferies Group
Jefferies Group upgraded shares of NetEase Inc. (NASDAQ:NTES) from a hold rating to a buy rating in a research report report published on Monday. They currently have $261.00 price target on the stock. The analysts noted that the move was a valuation call.
A number of other equities research analysts have also issued reports on the stock. Zacks Investment Research lowered shares of NetEase from a strong-buy rating to a hold rating in a report on Tuesday, November 15th. Brean Capital increased their target price on shares of NetEase from $235.00 to $310.00 and gave the stock a buy rating in a report on Thursday, November 10th. Morgan Stanley increased their target price on shares of NetEase from $195.00 to $233.00 and gave the stock an overweight rating in a report on Thursday, November 10th. Vetr upgraded shares of NetEase from a buy rating to a strong-buy rating and set a $294.91 target price on the stock in a report on Tuesday, November 1st. Finally, T.H. Capital reiterated a buy rating and set a $297.00 target price (up from $227.00) on shares of NetEase in a report on Thursday, October 13th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. The company presently has a consensus rating of Buy and a consensus price target of $257.61.
NetEase (NASDAQ:NTES) opened at 224.10 on Monday. The company’s 50-day moving average is $0.00 and its 200-day moving average is $0.00. NetEase has a 52-week low of $129.60 and a 52-week high of $272.58.
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The business also recently announced a quarterly dividend, which will be paid on Friday, December 2nd. Investors of record on Friday, November 25th will be given a $0.78 dividend. This represents a $3.12 dividend on an annualized basis and a dividend yield of 1.39%. The ex-dividend date is Tuesday, November 22nd. NetEase’s dividend payout ratio (DPR) is 25.15%.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Envestnet Asset Management Inc. increased its position in NetEase by 856.7% in the first quarter. Envestnet Asset Management Inc. now owns 14,255 shares of the company’s stock worth $2,047,000 after buying an additional 12,765 shares during the period. BNP Paribas Arbitrage SA increased its position in NetEase by 71.4% in the second quarter. BNP Paribas Arbitrage SA now owns 198,627 shares of the company’s stock worth $38,379,000 after buying an additional 82,761 shares during the period. Fulton Bank N.A. increased its position in NetEase by 4.7% in the second quarter. Fulton Bank N.A. now owns 2,852 shares of the company’s stock worth $551,000 after buying an additional 129 shares during the period. British Columbia Investment Management Corp increased its position in NetEase by 101.1% in the second quarter. British Columbia Investment Management Corp now owns 17,900 shares of the company’s stock worth $3,459,000 after buying an additional 9,000 shares during the period. Finally, Cabot Wealth Management Inc. increased its position in NetEase by 2.7% in the second quarter. Cabot Wealth Management Inc. now owns 27,957 shares of the company’s stock worth $5,402,000 after buying an additional 739 shares during the period. 55.88% of the stock is currently owned by hedge funds and other institutional investors.
NetEase, Inc (NetEase) is a technology company. The Company operates an interactive online community in China and is a provider of Chinese language content and services through its online games, Internet media, e-mail, e-commerce and other businesses. The Company operates through three segments: Online Game Services; Advertising Services, and E-mail, E-commerce and Others.
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