NetEase (NASDAQ:NTES) Stock Rating Lowered by Wall Street Zen

Key Points

• NetEase's rating has been downgraded from a "strong-buy" to a "buy" by Wall Street Zen following a recent research note.
• Other analysts have mixed opinions, with Arete raising the rating back to a "strong-buy" and several setting target prices ranging from $120.00 to $161.00.
• Currently, the stock has a consensus rating of "Moderate Buy" with a target price of $132.00 according to MarketBeat.

Wall Street Zen cut shares of NetEase (NASDAQ:NTES - Free Report) from a strong-buy rating to a buy rating in a research note issued to investors on Saturday.

NTES has been the subject of several other research reports. JPMorgan Chase & Co. cut NetEase from an "overweight" rating to a "neutral" rating and raised their target price for the stock from $135.00 to $140.00 in a research note on Monday, July 28th. Zacks Research cut NetEase from a "strong-buy" rating to a "hold" rating in a research note on Friday, August 15th. The Goldman Sachs Group set a $161.00 price objective on NetEase and gave the company a "buy" rating in a research note on Monday, September 15th. Barclays set a $120.00 price objective on NetEase and gave the company an "equal weight" rating in a research note on Monday, August 18th. Finally, Arete raised NetEase from a "sell" rating to a "buy" rating and set a $150.00 price objective for the company in a research note on Wednesday, September 3rd. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and three have given a Hold rating to the company's stock. According to data from MarketBeat, NetEase currently has a consensus rating of "Moderate Buy" and a consensus target price of $132.00.

NetEase Trading Down 0.6%

NTES stock traded down $0.85 during midday trading on Friday, hitting $152.05. 739,772 shares of the company's stock were exchanged, compared to its average volume of 695,921. The business has a 50-day simple moving average of $136.66 and a two-hundred day simple moving average of $121.61. The stock has a market capitalization of $96.34 billion, a PE ratio of 20.58, a P/E/G ratio of 2.03 and a beta of 0.67. NetEase has a 1-year low of $75.88 and a 1-year high of $159.55.

NetEase Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, September 11th. Investors of record on Thursday, August 28th were paid a dividend of $0.675 per share. This represents a $2.70 annualized dividend and a yield of 1.8%. The ex-dividend date of this dividend was Thursday, August 28th. NetEase's payout ratio is presently 30.72%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Ninety One UK Ltd grew its stake in NetEase by 2.2% during the 2nd quarter. Ninety One UK Ltd now owns 6,267,769 shares of the technology company's stock worth $843,516,000 after purchasing an additional 134,967 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its holdings in NetEase by 7,698.2% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,817,021 shares of the technology company's stock worth $289,928,000 after buying an additional 2,780,897 shares during the last quarter. Dodge & Cox lifted its holdings in NetEase by 5.8% during the 1st quarter. Dodge & Cox now owns 2,803,664 shares of the technology company's stock worth $288,553,000 after buying an additional 153,788 shares during the last quarter. Hhlr Advisors LTD. lifted its holdings in NetEase by 3.1% during the 1st quarter. Hhlr Advisors LTD. now owns 2,668,697 shares of the technology company's stock worth $274,662,000 after buying an additional 79,754 shares during the last quarter. Finally, Wellington Management Group LLP lifted its holdings in NetEase by 111.7% during the 1st quarter. Wellington Management Group LLP now owns 1,988,541 shares of the technology company's stock worth $204,661,000 after buying an additional 1,049,023 shares during the last quarter. 11.07% of the stock is owned by institutional investors and hedge funds.

About NetEase

NetEase, Inc engages in online games, music streaming, online intelligent learning services, and internet content services businesses in China and internationally . The company operates through Games and Related Value-Added Services, Youdao, Cloud Music, and Innovative Businesses and Others segments.