NetEase, Inc. (NTES) Raised to Strong-Buy at Vetr Inc.
Vetr upgraded shares of NetEase, Inc. (NASDAQ:NTES) from a buy rating to a strong-buy rating in a research note issued to investors on Wednesday. The firm currently has $320.50 price target on the technology company’s stock.
Other equities research analysts have also issued reports about the company. BidaskClub raised NetEase from a hold rating to a buy rating in a research note on Thursday, August 10th. Jefferies Group LLC reissued a buy rating and set a $330.00 price target on shares of NetEase in a research note on Friday, June 16th. Deutsche Bank AG reissued a buy rating and set a $343.00 price target (up from $300.00) on shares of NetEase in a research note on Tuesday, July 25th. Zacks Investment Research lowered NetEase from a buy rating to a hold rating in a research note on Tuesday, August 8th. Finally, ValuEngine lowered NetEase from a buy rating to a hold rating in a research note on Friday, September 1st. Four research analysts have rated the stock with a sell rating, five have assigned a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. The stock has an average rating of Hold and an average price target of $303.78.
Shares of NetEase (NASDAQ NTES) traded down 2.16% during trading on Wednesday, hitting $271.61. The company had a trading volume of 1,662,729 shares. NetEase has a 52 week low of $211.11 and a 52 week high of $337.55.
The company also recently announced a quarterly dividend, which was paid on Friday, September 1st. Shareholders of record on Friday, August 25th were given a dividend of $0.83 per share. This represents a $3.32 dividend on an annualized basis and a yield of 1.22%. The ex-dividend date was Wednesday, August 23rd. NetEase’s dividend payout ratio (DPR) is presently 25.07%.
A number of hedge funds and other institutional investors have recently modified their holdings of NTES. BlackRock Inc. raised its position in NetEase by 1,571.4% during the 1st quarter. BlackRock Inc. now owns 5,039,176 shares of the technology company’s stock valued at $1,431,127,000 after purchasing an additional 4,737,686 shares in the last quarter. Artisan Partners Limited Partnership bought a new stake in NetEase during the 2nd quarter valued at $287,603,000. FMR LLC raised its position in NetEase by 63.3% during the 2nd quarter. FMR LLC now owns 2,170,611 shares of the technology company’s stock valued at $652,551,000 after purchasing an additional 841,692 shares in the last quarter. Credit Agricole S A raised its position in NetEase by 19.2% during the 1st quarter. Credit Agricole S A now owns 4,395,661 shares of the technology company’s stock valued at $1,248,368,000 after purchasing an additional 709,148 shares in the last quarter. Finally, Fisher Asset Management LLC raised its position in NetEase by 142.3% during the 2nd quarter. Fisher Asset Management LLC now owns 839,739 shares of the technology company’s stock valued at $252,451,000 after purchasing an additional 493,209 shares in the last quarter. 50.38% of the stock is owned by institutional investors and hedge funds.
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.
To view Vetr’s full report, visit Vetr’s official website.
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