NetEase, Inc. (NASDAQ:NTES) Receives $107.29 Consensus Target Price from Brokerages

NetEase, Inc. (NASDAQ:NTES) has earned an average recommendation of “Moderate Buy” from the seven analysts that are presently covering the company, MarketBeat.com reports. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $107.29.

NTES has been the topic of several analyst reports. Benchmark dropped their price target on shares of NetEase from $120.00 to $105.00 and set a “buy” rating on the stock in a research note on Friday, November 15th. Bank of America dropped their target price on NetEase from $142.00 to $120.00 and set a “buy” rating on the stock in a research report on Friday, August 23rd. Citigroup increased their price target on NetEase from $108.00 to $115.00 and gave the company a “buy” rating in a report on Friday, November 15th. StockNews.com downgraded NetEase from a “strong-buy” rating to a “buy” rating in a report on Friday, December 6th. Finally, Barclays reduced their target price on NetEase from $104.00 to $82.00 and set an “equal weight” rating for the company in a research note on Monday, August 26th.

Hedge Funds Weigh In On NetEase

Large investors have recently added to or reduced their stakes in the company. Wealth Enhancement Advisory Services LLC lifted its holdings in NetEase by 26.2% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 11,986 shares of the technology company’s stock worth $1,146,000 after acquiring an additional 2,485 shares during the last quarter. Raymond James & Associates lifted its holdings in shares of NetEase by 20.5% in the 2nd quarter. Raymond James & Associates now owns 25,823 shares of the technology company’s stock worth $2,468,000 after purchasing an additional 4,395 shares during the last quarter. Fifth Third Bancorp boosted its position in NetEase by 1.9% during the 2nd quarter. Fifth Third Bancorp now owns 7,658 shares of the technology company’s stock valued at $732,000 after purchasing an additional 146 shares during the period. Advisory Resource Group grew its stake in NetEase by 24.1% during the 2nd quarter. Advisory Resource Group now owns 10,345 shares of the technology company’s stock worth $989,000 after buying an additional 2,010 shares during the last quarter. Finally, Financial Advocates Investment Management acquired a new stake in NetEase in the second quarter worth $421,000. 11.07% of the stock is currently owned by institutional investors.

NetEase Stock Up 0.3 %

NTES opened at $92.09 on Wednesday. The firm’s 50 day moving average is $85.66 and its 200-day moving average is $88.00. NetEase has a 52-week low of $75.85 and a 52-week high of $114.50. The firm has a market capitalization of $59.14 billion, a P/E ratio of 15.56, a P/E/G ratio of 3.53 and a beta of 0.57.

NetEase Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, December 13th. Stockholders of record on Friday, November 29th were issued a $0.435 dividend. The ex-dividend date of this dividend was Friday, November 29th. This represents a $1.74 dividend on an annualized basis and a dividend yield of 1.89%. NetEase’s dividend payout ratio (DPR) is 29.22%.

NetEase Company Profile

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.