Brokerages Set NetEase, Inc. (NASDAQ:NTES) Target Price at $155.67

NetEase, Inc. (NASDAQ:NTES) has received a consensus recommendation of “Moderate Buy” from the eleven brokerages that are covering the firm, MarketBeat Ratings reports. Three research analysts have rated the stock with a hold recommendation and eight have assigned a buy recommendation to the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $155.6667.

Several equities analysts have weighed in on the company. Benchmark restated a “buy” rating on shares of NetEase in a report on Thursday, February 12th. Citigroup reissued a “buy” rating on shares of NetEase in a research note on Wednesday, February 11th. Sanford C. Bernstein set a $155.00 target price on NetEase in a report on Friday, November 21st. Weiss Ratings reiterated a “hold (c)” rating on shares of NetEase in a report on Monday, December 22nd. Finally, Wall Street Zen cut shares of NetEase from a “buy” rating to a “hold” rating in a research note on Sunday, November 23rd.

Institutional Trading of NetEase

Several hedge funds have recently added to or reduced their stakes in the business. NewSquare Capital LLC lifted its holdings in shares of NetEase by 137.2% during the second quarter. NewSquare Capital LLC now owns 185 shares of the technology company’s stock worth $25,000 after buying an additional 107 shares during the last quarter. Private Trust Co. NA boosted its holdings in NetEase by 266.0% in the 2nd quarter. Private Trust Co. NA now owns 194 shares of the technology company’s stock valued at $26,000 after purchasing an additional 141 shares during the period. Cornerstone Planning Group LLC acquired a new stake in NetEase in the 3rd quarter worth $33,000. Spire Wealth Management increased its holdings in shares of NetEase by 159.6% during the 2nd quarter. Spire Wealth Management now owns 257 shares of the technology company’s stock worth $35,000 after purchasing an additional 158 shares during the period. Finally, Steigerwald Gordon & Koch Inc. bought a new position in shares of NetEase during the 3rd quarter worth about $38,000. Institutional investors own 11.07% of the company’s stock.

NetEase Stock Down 0.6%

NASDAQ NTES opened at $118.41 on Monday. The stock has a market capitalization of $75.02 billion, a PE ratio of 16.13, a price-to-earnings-growth ratio of 1.49 and a beta of 0.71. NetEase has a 12-month low of $88.54 and a 12-month high of $159.55. The company has a 50 day moving average price of $132.84 and a two-hundred day moving average price of $138.78.

NetEase Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 27th. Stockholders of record on Monday, March 16th will be paid 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 dividend on an annualized basis and a dividend yield of 3.9%. NetEase’s dividend payout ratio is presently 30.93%.

NetEase Company Profile

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.