NetEase (NTES) Trading Down 0.3% After Analyst Downgrade

NetEase (NASDAQ:NTES) traded down 0.3% during mid-day trading on Friday after Barclays lowered their price target on the stock to $255.00. Barclays currently has an equal weight rating on the stock. NetEase traded as low as $240.07 and last traded at $246.86. 481,395 shares were traded during mid-day trading, a decline of 60% from the average session volume of 1,205,109 shares. The stock had previously closed at $246.16.

NTES has been the subject of several other reports. BidaskClub raised NetEase from a “sell” rating to a “hold” rating in a research note on Saturday, March 17th. ValuEngine lowered NetEase from a “hold” rating to a “sell” rating in a research note on Thursday, March 29th. Daiwa Capital Markets raised NetEase from a “neutral” rating to a “buy” rating in a research note on Thursday. Benchmark raised their price objective on NetEase to $355.00 and gave the company a “buy” rating in a research note on Tuesday, February 6th. Finally, Jefferies Group lowered their price objective on NetEase from $335.00 to $310.00 and set a “hold” rating for the company in a research note on Tuesday, April 10th. Six research analysts have rated the stock with a sell rating, three have issued a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. NetEase presently has a consensus rating of “Hold” and a consensus price target of $329.40.

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Hedge funds have recently modified their holdings of the stock. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. raised its position in NetEase by 1.9% during the 4th quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 10,215 shares of the technology company’s stock valued at $3,493,000 after purchasing an additional 189 shares in the last quarter. Nomura Asset Management Co. Ltd. raised its position in NetEase by 1.4% during the 1st quarter. Nomura Asset Management Co. Ltd. now owns 16,426 shares of the technology company’s stock valued at $4,605,000 after purchasing an additional 220 shares in the last quarter. LPL Financial LLC raised its position in NetEase by 3.2% during the 1st quarter. LPL Financial LLC now owns 7,624 shares of the technology company’s stock valued at $2,138,000 after purchasing an additional 235 shares in the last quarter. Cabot Wealth Management Inc. raised its position in NetEase by 1.4% during the 1st quarter. Cabot Wealth Management Inc. now owns 25,435 shares of the technology company’s stock valued at $7,132,000 after purchasing an additional 344 shares in the last quarter. Finally, United Capital Financial Advisers LLC raised its position in NetEase by 3.2% during the 1st quarter. United Capital Financial Advisers LLC now owns 11,162 shares of the technology company’s stock valued at $3,130,000 after purchasing an additional 347 shares in the last quarter. 51.55% of the stock is owned by hedge funds and other institutional investors.

The stock has a market cap of $34.93 billion, a price-to-earnings ratio of 19.85, a price-to-earnings-growth ratio of 1.69 and a beta of 0.89.

The company also recently announced a quarterly dividend, which will be paid on Friday, June 8th. Shareholders of record on Friday, June 1st will be given a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 0.37%. The ex-dividend date of this dividend is Thursday, May 31st. NetEase’s dividend payout ratio (DPR) is presently 24.17%.

NetEase Company Profile

NetEase, Inc operates an interactive online community in the People's Republic of China. The company operates through Online Game Services; Advertising Services; and E-mail, E-commerce and Others segments. It offers PC-client massively multi-player online role-playing games and mobile games; and distributes its point cards to gamers.