NetEase (NASDAQ:NTES) Upgraded at Morgan Stanley

Morgan Stanley upgraded shares of NetEase (NASDAQ:NTES) from an equal weight rating to an overweight rating in a research note released on Wednesday, Marketbeat reports. Morgan Stanley currently has $108.00 target price on the technology company’s stock, up from their prior target price of $90.00.

A number of other equities research analysts have also recently weighed in on NTES. Citigroup raised their price target on NetEase from $108.00 to $115.00 and gave the company a “buy” rating in a report on Friday, November 15th. StockNews.com downgraded shares of NetEase from a “strong-buy” rating to a “buy” rating in a research note on Friday, December 6th. Finally, Benchmark lowered their target price on NetEase from $120.00 to $105.00 and set a “buy” rating for the company in a research note on Friday, November 15th. One analyst has rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $108.43.

NetEase Trading Up 2.9 %

Shares of NetEase stock opened at $92.28 on Wednesday. NetEase has a 1-year low of $75.85 and a 1-year high of $114.50. The firm’s 50-day moving average price is $88.02 and its two-hundred day moving average price is $87.80. The stock has a market capitalization of $59.26 billion, a price-to-earnings ratio of 15.59, a P/E/G ratio of 3.53 and a beta of 0.57.

NetEase Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, December 13th. Stockholders of record on Friday, November 29th were issued a $0.435 dividend. This represents a $1.74 annualized dividend and a dividend yield of 1.89%. The ex-dividend date of this dividend was Friday, November 29th. NetEase’s dividend payout ratio (DPR) is 29.22%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Guinness Asset Management LTD raised its stake in shares of NetEase by 16.7% during the 3rd quarter. Guinness Asset Management LTD now owns 86,741 shares of the technology company’s stock worth $8,111,000 after purchasing an additional 12,410 shares in the last quarter. Assetmark Inc. lifted its stake in NetEase by 27.3% in the third quarter. Assetmark Inc. now owns 38,469 shares of the technology company’s stock valued at $3,597,000 after acquiring an additional 8,248 shares during the last quarter. Dimensional Fund Advisors LP grew its position in shares of NetEase by 15.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 569,633 shares of the technology company’s stock valued at $54,502,000 after acquiring an additional 76,446 shares during the period. Cetera Investment Advisers increased its stake in shares of NetEase by 56.8% during the 2nd quarter. Cetera Investment Advisers now owns 17,123 shares of the technology company’s stock worth $1,637,000 after purchasing an additional 6,203 shares during the last quarter. Finally, Frank Rimerman Advisors LLC bought a new stake in shares of NetEase in the 2nd quarter valued at about $604,000. Institutional investors and hedge funds own 11.07% of the company’s stock.

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.