NetEase (NASDAQ:NTES) Cut to Hold at Wall Street Zen

Wall Street Zen downgraded shares of NetEase (NASDAQ:NTES) from a buy rating to a hold rating in a research note published on Sunday.

Several other research analysts also recently commented on the company. The Goldman Sachs Group set a $161.00 price objective on NetEase and gave the stock a “buy” rating in a report on Monday, September 15th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of NetEase in a research note on Wednesday, November 19th. Benchmark boosted their price objective on NetEase from $145.00 to $158.00 and gave the company a “buy” rating in a research report on Friday, November 21st. Zacks Research cut shares of NetEase from a “strong-buy” rating to a “hold” rating in a report on Friday, August 15th. Finally, Barclays set a $135.00 price target on shares of NetEase and gave the company an “equal weight” rating in a report on Friday. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $152.10.

NetEase Stock Up 0.6%

Shares of NASDAQ:NTES opened at $139.97 on Friday. The stock has a market cap of $88.68 billion, a PE ratio of 18.94, a PEG ratio of 1.91 and a beta of 0.65. The company’s fifty day moving average is $145.80 and its 200 day moving average is $136.30. NetEase has a 52 week low of $84.97 and a 52 week high of $159.55.

NetEase Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 19th. Investors of record on Friday, December 5th will be issued a $0.57 dividend. The ex-dividend date is Friday, December 5th. This represents a $2.28 annualized dividend and a yield of 1.6%. NetEase’s payout ratio is 29.12%.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the stock. NewSquare Capital LLC boosted its stake in shares of NetEase by 137.2% during the 2nd quarter. NewSquare Capital LLC now owns 185 shares of the technology company’s stock valued at $25,000 after purchasing an additional 107 shares in the last quarter. Private Trust Co. NA boosted its position in NetEase by 266.0% during the 2nd quarter. Private Trust Co. NA now owns 194 shares of the technology company’s stock valued at $26,000 after acquiring an additional 141 shares in the last quarter. Cornerstone Planning Group LLC purchased a new position in shares of NetEase during the 3rd quarter worth approximately $33,000. USA Financial Formulas purchased a new position in shares of NetEase during the 2nd quarter worth approximately $30,000. Finally, Reyes Financial Architecture Inc. raised its position in shares of NetEase by 1,189.5% in the 2nd quarter. Reyes Financial Architecture Inc. now owns 245 shares of the technology company’s stock worth $33,000 after acquiring an additional 226 shares in the last quarter. 11.07% of the stock is currently owned by institutional investors.

NetEase Company Profile

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.