Today: NetEase Inc. (NTES) Stock Rating Upgrade by Jefferies Group

Today: NetEase Inc. (NTES) Stock Rating Upgrade by Jefferies Group

NetEase Inc. (NASDAQ:NTES) was upgraded by research analysts at Jefferies Group from a “hold” rating to a “buy” rating in a research note issued to investors on Monday. The firm presently has a $261.00 price objective on the stock. Jefferies Group’s price objective points to a potential upside of 14.93% from the company’s previous close. The analysts noted that the move was a valuation call.

NTES has been the topic of several other reports. CICC Research raised NetEase to a “buy” rating and set a $345.00 price objective on the stock in a report on Wednesday, October 12th. T.H. Capital reaffirmed a “buy” rating and set a $297.00 price objective (up from $227.00) on shares of NetEase in a report on Thursday, October 13th. Vetr raised NetEase from a “buy” rating to a “strong-buy” rating and set a $294.91 price objective on the stock in a report on Tuesday, November 1st. raised NetEase from an “underperform” rating to an “outperform” rating and set a $272.00 price objective on the stock in a report on Monday, October 3rd. Finally, Credit Suisse Group AG assumed coverage on NetEase in a report on Friday, August 19th. They set a “neutral” rating and a $230.00 price objective on the stock. One 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 stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $257.61.

NetEase (NASDAQ:NTES) traded up 2.138% during mid-day trading on Monday, reaching $231.946. 1,154,393 shares of the company traded hands. The firm has a market capitalization of $30.41 billion, a P/E ratio of 22.572 and a beta of 0.80. NetEase has a 12-month low of $129.60 and a 12-month high of $272.58. The company’s 50 day moving average price is $249.31 and its 200 day moving average price is $211.05.

The company also recently declared a quarterly dividend, which will be paid on Friday, December 2nd. Stockholders of record on Friday, November 25th will be given a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a dividend yield of 1.37%. The ex-dividend date is Tuesday, November 22nd. NetEase’s payout ratio is 25.15%.

Several institutional investors have recently bought and sold shares of the company. Comgest Global Investors S.A.S. increased its position in NetEase by 0.4% in the second quarter. Comgest Global Investors S.A.S. now owns 2,921,119 shares of the company’s stock worth $564,418,000 after buying an additional 12,423 shares during the last quarter. BlackRock Institutional Trust Company N.A. increased its position in NetEase by 39.1% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 1,837,876 shares of the company’s stock worth $355,114,000 after buying an additional 516,959 shares during the last quarter. State Street Corp increased its position in NetEase by 59.4% in the second quarter. State Street Corp now owns 1,416,543 shares of the company’s stock worth $273,701,000 after buying an additional 527,760 shares during the last quarter. BlackRock Fund Advisors increased its position in NetEase by 20.1% in the third quarter. BlackRock Fund Advisors now owns 1,252,150 shares of the company’s stock worth $301,493,000 after buying an additional 209,389 shares during the last quarter. Finally, Boston Partners increased its position in NetEase by 2.5% in the second quarter. Boston Partners now owns 1,218,011 shares of the company’s stock worth $235,344,000 after buying an additional 29,535 shares during the last quarter. 55.88% of the stock is currently owned by institutional investors and hedge funds.

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