NetEase, Inc. (NASDAQ:NTES) Receives $153.89 Average PT from Analysts

NetEase, Inc. (NASDAQ:NTES) has earned a consensus recommendation of “Moderate Buy” from the eleven brokerages that are currently covering the firm, Marketbeat reports. Three research analysts have rated the stock with a hold recommendation and eight have assigned a buy recommendation to the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $153.8889.

Several brokerages have recently issued reports on NTES. Barclays reduced their price target on NetEase from $135.00 to $132.00 and set an “equal weight” rating on the stock in a report on Thursday, February 12th. Sanford C. Bernstein set a $155.00 target price on shares of NetEase in a research report on Friday, November 21st. Morgan Stanley reissued an “overweight” rating and set a $154.00 target price on shares of NetEase in a report on Monday, March 2nd. Weiss Ratings restated a “hold (c)” rating on shares of NetEase in a research report on Monday, December 22nd. Finally, Wall Street Zen lowered shares of NetEase from a “buy” rating to a “hold” rating in a report on Sunday, November 23rd.

Institutional Investors Weigh In On NetEase

Several institutional investors and hedge funds have recently made changes to their positions in the business. Rockefeller Capital Management L.P. grew its stake in NetEase by 9.7% in the fourth quarter. Rockefeller Capital Management L.P. now owns 2,175 shares of the technology company’s stock valued at $299,000 after acquiring an additional 192 shares during the period. Larry Mathis Financial Planning LLC acquired a new position in shares of NetEase during the fourth quarter worth approximately $340,000. MY.Alpha Management HK Advisors Ltd acquired a new position in shares of NetEase during the fourth quarter worth approximately $12,093,000. Rehmann Capital Advisory Group lifted its holdings in shares of NetEase by 24.5% in the 4th quarter. Rehmann Capital Advisory Group now owns 2,538 shares of the technology company’s stock worth $352,000 after purchasing an additional 499 shares in the last quarter. Finally, MidFirst Bank bought a new position in shares of NetEase in the 4th quarter worth $57,000. Institutional investors own 11.07% of the company’s stock.

NetEase Price Performance

Shares of NTES opened at $116.33 on Friday. NetEase has a one year low of $88.54 and a one year high of $159.55. The firm has a 50 day simple moving average of $124.22 and a two-hundred day simple moving average of $136.63. The company has a market cap of $73.71 billion, a P/E ratio of 15.85, a P/E/G ratio of 1.49 and a beta of 0.74.

NetEase Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 27th. Investors of record on Monday, March 16th will be issued a $1.16 dividend. The ex-dividend date is Monday, March 16th. This is a boost from NetEase’s previous quarterly dividend of $0.57. This represents a $4.64 annualized dividend and a yield of 4.0%. NetEase’s dividend payout ratio (DPR) is currently 63.08%.

About NetEase

NetEase, Inc (NASDAQ: NTES) is a Chinese technology company headquartered in Hangzhou that develops and operates Internet services and products. Founded in 1997 by William Ding (Ding Lei), the company has grown from an early web portal and e-mail provider into a diversified online services group. William Ding has served as the company’s founder and long-time leader, guiding its expansion into games, digital content and consumer services.

The company’s primary business is interactive entertainment: NetEase Games designs, develops and publishes PC and mobile games for domestic and international audiences, offering a mix of self-developed franchises and titles published under licensing and strategic partnerships.