NetEase, Inc. (NTES) Downgraded by Vetr Inc. to “Buy”
Vetr lowered shares of NetEase, Inc. (NASDAQ:NTES) from a strong-buy rating to a buy rating in a research note issued to investors on Monday morning. The firm currently has $327.04 price objective on the technology company’s stock.
Several other equities analysts also recently weighed in on NTES. Jefferies Group LLC reaffirmed a buy rating and set a $330.00 price target on shares of NetEase in a report on Monday, May 22nd. Standpoint Research downgraded shares of NetEase from a buy rating to a reduce rating and lifted their price target for the company from $345.00 to $360.00 in a report on Wednesday, June 7th. BidaskClub raised shares of NetEase from a buy rating to a strong-buy rating in a report on Friday, June 9th. Zacks Investment Research raised shares of NetEase from a hold rating to a strong-buy rating and set a $346.00 price target on the stock in a report on Wednesday, July 12th. Finally, Deutsche Bank AG reaffirmed a buy rating and set a $343.00 price target (up previously from $300.00) on shares of NetEase in a report on Tuesday, July 25th. Four investment analysts have rated the stock with a sell rating, five have given a hold rating and eleven have given a buy rating to the company. The stock presently has an average rating of Hold and a consensus price target of $304.19.
Shares of NetEase (NASDAQ:NTES) opened at 293.30 on Monday. NetEase has a 1-year low of $211.11 and a 1-year high of $337.55. The stock has a market capitalization of $38.66 billion, a PE ratio of 19.23 and a beta of 0.96. The firm has a 50-day moving average of $281.54 and a 200 day moving average of $288.34.
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The business also recently announced a quarterly dividend, which was paid on Friday, September 1st. Stockholders of record on Friday, August 25th were issued a $0.83 dividend. This represents a $3.32 annualized dividend and a dividend yield of 1.13%. The ex-dividend date of this dividend was Wednesday, August 23rd. NetEase’s dividend payout ratio (DPR) is presently 25.07%.
Several hedge funds have recently added to or reduced their stakes in the company. OLD National Bancorp IN lifted its holdings in shares of NetEase by 0.4% in the second quarter. OLD National Bancorp IN now owns 930 shares of the technology company’s stock worth $280,000 after buying an additional 4 shares in the last quarter. Ameritas Investment Partners Inc. raised its stake in NetEase by 1.3% during the second quarter. Ameritas Investment Partners Inc. now owns 1,366 shares of the technology company’s stock valued at $411,000 after purchasing an additional 17 shares in the last quarter. Financial Counselors Inc. raised its stake in NetEase by 1.7% during the second quarter. Financial Counselors Inc. now owns 1,211 shares of the technology company’s stock valued at $364,000 after purchasing an additional 20 shares in the last quarter. HPM Partners LLC raised its stake in NetEase by 2.3% during the second quarter. HPM Partners LLC now owns 1,334 shares of the technology company’s stock valued at $401,000 after purchasing an additional 30 shares in the last quarter. Finally, Suntrust Banks Inc. raised its stake in NetEase by 2.6% during the first quarter. Suntrust Banks Inc. now owns 1,512 shares of the technology company’s stock valued at $429,000 after purchasing an additional 39 shares in the last quarter. 50.38% of the stock is currently owned by hedge funds and other institutional investors.
NetEase Company Profile
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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