Analysts Set NetEase, Inc. (NASDAQ:NTES) Target Price at $152.10

Shares of NetEase, Inc. (NASDAQ:NTES) have been assigned a consensus recommendation of “Moderate Buy” from the twelve analysts that are presently covering the stock, Marketbeat reports. Three equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $152.10.

A number of equities research analysts have issued reports on the company. Citigroup reissued a “buy” rating on shares of NetEase in a research report on Friday, November 21st. Arete raised NetEase from a “sell” rating to a “buy” rating and set a $150.00 price objective on the stock in a research note on Wednesday, September 3rd. Weiss Ratings reiterated a “hold (c+)” rating on shares of NetEase in a report on Monday. Barclays set a $135.00 target price on shares of NetEase and gave the stock an “equal weight” rating in a research report on Friday, November 21st. Finally, Benchmark lifted their price target on shares of NetEase from $145.00 to $158.00 and gave the company a “buy” rating in a research report on Friday, November 21st.

NetEase Stock Up 0.0%

Shares of NTES opened at $139.78 on Wednesday. The firm has a market cap of $88.56 billion, a PE ratio of 17.85, a price-to-earnings-growth ratio of 1.68 and a beta of 0.68. The company’s fifty day moving average is $143.83 and its two-hundred day moving average is $137.45. NetEase has a fifty-two week low of $87.67 and a fifty-two week high of $159.55.

NetEase Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 19th. Investors of record on Friday, December 5th will be issued a dividend of $0.57 per share. The ex-dividend date is Friday, December 5th. This represents a $2.28 annualized dividend and a dividend yield of 1.6%. NetEase’s payout ratio is presently 28.99%.

Institutional Trading of NetEase

Large investors have recently added to or reduced their stakes in the stock. Allworth Financial LP raised its position in NetEase by 15.2% in the third quarter. Allworth Financial LP now owns 718 shares of the technology company’s stock valued at $109,000 after purchasing an additional 95 shares during the period. CIBC Bancorp USA Inc. purchased a new stake in shares of NetEase during the 3rd quarter valued at about $238,000. Ovata Capital Management Ltd lifted its position in NetEase by 228.6% during the 3rd quarter. Ovata Capital Management Ltd now owns 25,300 shares of the technology company’s stock worth $3,850,000 after acquiring an additional 17,600 shares in the last quarter. Morningstar Investment Management LLC purchased a new position in NetEase in the 3rd quarter worth approximately $3,234,000. Finally, NewEdge Advisors LLC grew its position in NetEase by 59.1% in the third quarter. NewEdge Advisors LLC now owns 10,722 shares of the technology company’s stock valued at $1,630,000 after acquiring an additional 3,982 shares in the last quarter. 11.07% of the stock is currently 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.