Zacks Investment Research cut shares of NetEase, Inc. (NASDAQ:NTES) from a buy rating to a hold rating in a research report sent to investors on Tuesday morning.
According to Zacks, “NetEase, Inc. is an Internet technology company engaged in the development of applications, services and other technologies for the Internet in China. It provides online gaming services that include in-house developed massively multi-player online role-playing games and licensed titles. NetEase also provides online advertising, community services, entertainment content, free e-mail services and micro-blogging services. The Company also offers wireless value-added services such as news and information content, matchmaking services, music and photos from the web that are sent over SMS, MMS, WAP, IVR and Color Ring-back Tone technologies. NetEase, Inc., formerly known as NetEase.com, Inc., is based in Beijing, the People’s Republic of China. “
Other equities analysts have also recently issued reports about the stock. BidaskClub raised shares of NetEase from a buy rating to a strong-buy rating in a research report on Friday, June 9th. Vetr cut shares of NetEase from a strong-buy rating to a buy rating and set a $318.49 price objective for the company. in a research report on Monday, May 22nd. Standpoint Research cut shares of NetEase from a buy rating to a reduce rating and lifted their price objective for the stock from $345.00 to $360.00 in a research report on Wednesday, June 7th. Jefferies Group LLC reissued a buy rating and issued a $330.00 target price on shares of NetEase in a research report on Monday, May 22nd. Finally, Deutsche Bank AG reissued a buy rating and issued a $343.00 target price (up previously from $300.00) on shares of NetEase in a research report on Tuesday, July 25th. Three analysts have rated the stock with a sell rating, five have given a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. The stock currently has an average rating of Buy and a consensus target price of $301.90.
NetEase (NASDAQ NTES) traded down 1.16% during trading on Tuesday, reaching $280.96. 2,902,965 shares of the company traded hands. The company’s 50-day moving average is $307.68 and its 200 day moving average is $287.67. The company has a market cap of $37.03 billion, a PE ratio of 18.72 and a beta of 0.92. NetEase has a 12 month low of $199.01 and a 12 month high of $337.55.
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The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 1st. Stockholders of record on Friday, August 25th will be paid a $0.83 dividend. This represents a $3.32 annualized dividend and a dividend yield of 1.18%. The ex-dividend date is Wednesday, August 23rd. NetEase’s dividend payout ratio is currently 24.73%.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in NTES. Teachers Advisors LLC increased its position in NetEase by 6.5% in the fourth quarter. Teachers Advisors LLC now owns 32,783 shares of the technology company’s stock valued at $7,059,000 after buying an additional 2,000 shares in the last quarter. Macquarie Group Ltd. boosted its stake in shares of NetEase by 1.3% in the fourth quarter. Macquarie Group Ltd. now owns 7,108 shares of the technology company’s stock valued at $1,530,000 after buying an additional 93 shares during the last quarter. Gulf International Bank UK Ltd boosted its stake in shares of NetEase by 2.2% in the first quarter. Gulf International Bank UK Ltd now owns 19,000 shares of the technology company’s stock valued at $5,396,000 after buying an additional 400 shares during the last quarter. Bank of Montreal Can boosted its stake in shares of NetEase by 35.3% in the first quarter. Bank of Montreal Can now owns 118,811 shares of the technology company’s stock valued at $33,742,000 after buying an additional 30,992 shares during the last quarter. Finally, Daiwa SB Investments Ltd. bought a new stake in shares of NetEase during the first quarter valued at approximately $767,000. 55.53% of the stock is owned by institutional investors.
About NetEase
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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