Shares of NetEase, Inc. (NASDAQ:NTES – Get Free Report) have been assigned a consensus recommendation of “Moderate Buy” from the ten ratings firms that are covering the company, Marketbeat.com reports. Three investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $163.62.
NTES has been the subject of several research analyst reports. Morgan Stanley reiterated an “overweight” rating and issued a $163.00 price objective on shares of NetEase in a research report on Monday. Weiss Ratings lowered NetEase from a “hold (c+)” rating to a “hold (c)” rating in a research note on Tuesday, August 4th. Zacks Research cut NetEase from a “strong-buy” rating to a “hold” rating in a report on Monday, July 27th. The Goldman Sachs Group set a $169.00 price target on shares of NetEase in a research report on Wednesday, July 1st. Finally, Sanford C. Bernstein reissued an “outperform” rating and set a $160.00 price objective on shares of NetEase in a report on Friday, August 21st.
Check Out Our Latest Stock Report on NTES
Insider Activity at NetEase
Institutional Inflows and Outflows
A number of hedge funds have recently bought and sold shares of NTES. QRG Capital Management Inc. raised its position in shares of NetEase by 23.5% during the second quarter. QRG Capital Management Inc. now owns 9,468 shares of the technology company’s stock worth $1,213,000 after acquiring an additional 1,804 shares during the last quarter. Envestnet Asset Management Inc. raised its stake in shares of NetEase by 28.1% during the second quarter. Envestnet Asset Management Inc. now owns 220,862 shares of the technology company’s stock worth $28,301,000 after buying an additional 48,446 shares during the last quarter. Sequoia Financial Advisors LLC raised its stake in shares of NetEase by 38.9% during the second quarter. Sequoia Financial Advisors LLC now owns 9,834 shares of the technology company’s stock worth $1,260,000 after buying an additional 2,752 shares during the last quarter. Tidal Investments LLC acquired a new position in NetEase in the second quarter valued at approximately $4,395,000. Finally, Integrated Wealth Concepts LLC acquired a new position in NetEase in the second quarter valued at approximately $102,000. 11.07% of the stock is currently owned by institutional investors.
NetEase Stock Performance
NASDAQ:NTES opened at $120.61 on Tuesday. The company has a market capitalization of $77.22 billion, a price-to-earnings ratio of 16.61, a PEG ratio of 1.42 and a beta of 0.68. The company has a 50-day moving average of $122.78 and a 200-day moving average of $120.67. NetEase has a 52 week low of $106.06 and a 52 week high of $156.44.
NetEase Cuts Dividend
The business also recently announced a quarterly dividend, which was paid on Friday, September 18th. Stockholders of record on Thursday, September 3rd were given a dividend of $0.48 per share. The ex-dividend date was Thursday, September 3rd. This is a negative change from NetEase’s previous quarterly dividend of $0.72. This represents a $1.92 dividend on an annualized basis and a dividend yield of 1.6%. NetEase’s dividend payout ratio (DPR) is currently 26.31%.
About NetEase
NetEase, Inc (NASDAQ: NTES) is a China-based internet technology company founded in 1997 by William Ding, who serves as the company’s chief executive officer and director. The company develops and operates online services for consumers in China and international markets.
NetEase’s primary business is online games, including role-playing, multiplayer, mobile and personal-computer titles. Its portfolio includes franchises such as Fantasy Westward Journey, Westward Journey Online, Knives Out, Identity V and Onmyoji.
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