NetEase, Inc. (NASDAQ:NTES) Receives Average Rating of “Moderate Buy” from Brokerages

NetEase, Inc. (NASDAQ:NTES) has been given a consensus recommendation of “Moderate Buy” by the ten research firms that are covering the firm, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a hold recommendation and seven have assigned a buy recommendation to the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $157.3750.

Several equities research analysts have recently commented on NTES shares. Morgan Stanley reiterated an “overweight” rating and set a $158.00 price target on shares of NetEase in a research report on Tuesday, May 26th. Barclays lowered their price target on shares of NetEase from $135.00 to $132.00 and set an “equal weight” rating for the company in a research report on Thursday, February 12th. Benchmark reiterated a “buy” rating on shares of NetEase in a research report on Friday, May 22nd. Citigroup reiterated a “buy” rating on shares of NetEase in a research report on Wednesday, February 11th. Finally, Nomura lowered their price target on shares of NetEase from $160.00 to $155.00 and set a “buy” rating for the company in a research report on Friday, February 13th.

NetEase Price Performance

Shares of NASDAQ:NTES opened at $122.82 on Wednesday. NetEase has a one year low of $106.06 and a one year high of $159.55. The company has a 50 day moving average of $114.98 and a 200-day moving average of $125.48. The stock has a market cap of $78.41 billion, a price-to-earnings ratio of 16.31, a P/E/G ratio of 1.71 and a beta of 0.72.

NetEase Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 18th. Investors of record on Friday, June 5th will be issued a dividend of $0.72 per share. The ex-dividend date is Friday, June 5th. This represents a $2.88 dividend on an annualized basis and a yield of 2.3%. NetEase’s payout ratio is currently 61.49%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in NTES. Brighton Jones LLC boosted its holdings in shares of NetEase by 1.1% in the fourth quarter. Brighton Jones LLC now owns 10,297 shares of the technology company’s stock valued at $919,000 after buying an additional 117 shares during the period. Strs Ohio acquired a new position in shares of NetEase in the first quarter valued at approximately $63,000. EverSource Wealth Advisors LLC boosted its holdings in shares of NetEase by 106.9% in the second quarter. EverSource Wealth Advisors LLC now owns 542 shares of the technology company’s stock valued at $73,000 after buying an additional 280 shares during the period. First Trust Advisors LP boosted its holdings in shares of NetEase by 287.4% in the second quarter. First Trust Advisors LP now owns 91,571 shares of the technology company’s stock valued at $12,324,000 after buying an additional 67,934 shares during the period. Finally, Walleye Capital LLC boosted its holdings in shares of NetEase by 670.9% in the second quarter. Walleye Capital LLC now owns 5,265 shares of the technology company’s stock valued at $709,000 after buying an additional 4,582 shares during the period. Institutional investors and hedge funds own 11.07% of the company’s stock.

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.