NetEase, Inc. (NASDAQ:NTES) Stock Has Average Target Price of $163.62

Shares of NetEase, Inc. (NASDAQ:NTES) have received an average rating of “Moderate Buy” from the ten analysts that are covering the stock, Marketbeat.com reports. Three analysts have rated the stock with a hold rating and seven have issued a buy rating on the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $163.62.

Several brokerages have recently issued reports on NTES. Weiss Ratings downgraded shares of NetEase from a “hold (c+)” rating to a “hold (c)” rating in a report on Tuesday, August 4th. The Goldman Sachs Group set a $169.00 price objective on shares of NetEase in a report on Wednesday, July 1st. Nomura lifted their price objective on shares of NetEase from $155.00 to $157.00 and gave the company a “buy” rating in a research report on Tuesday, August 25th. Wall Street Zen cut shares of NetEase from a “buy” rating to a “hold” rating in a research report on Sunday, August 2nd. Finally, Sanford C. Bernstein restated an “outperform” rating and issued a $160.00 target price on shares of NetEase in a research report on Friday, August 21st.

NetEase Trading Down 2.8%

Shares of NASDAQ NTES opened at $117.21 on Tuesday. NetEase has a 12-month low of $106.06 and a 12-month high of $156.44. The company has a market cap of $75.04 billion, a price-to-earnings ratio of 16.14, a price-to-earnings-growth ratio of 1.38 and a beta of 0.68. The stock’s 50 day simple moving average is $122.73 and its 200 day simple moving average is $120.65.

NetEase Cuts Dividend

The firm also recently disclosed 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. This is a drop from NetEase’s previous quarterly dividend of $0.72. This represents a $1.92 annualized dividend and a dividend yield of 1.6%. The ex-dividend date was Thursday, September 3rd. NetEase’s payout ratio is presently 26.31%.

Insider Transactions at NetEase

In related news, VP Aileen Mo sold 716 shares of the stock in a transaction that occurred on Wednesday, September 2nd. The stock was sold at an average price of $120.64, for a total value of $86,378.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 54.70% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the business. QRG Capital Management Inc. lifted its holdings in NetEase by 23.5% in the second quarter. QRG Capital Management Inc. now owns 9,468 shares of the technology company’s stock worth $1,213,000 after purchasing an additional 1,804 shares during the period. Envestnet Asset Management Inc. grew its position in NetEase by 28.1% in the 2nd quarter. Envestnet Asset Management Inc. now owns 220,862 shares of the technology company’s stock valued at $28,301,000 after buying an additional 48,446 shares in the last quarter. Sequoia Financial Advisors LLC increased its stake in NetEase by 38.9% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 9,834 shares of the technology company’s stock valued at $1,260,000 after buying an additional 2,752 shares during the period. Tidal Investments LLC acquired a new position in NetEase during the 2nd quarter valued at about $4,395,000. Finally, Integrated Wealth Concepts LLC acquired a new position in NetEase during the 2nd quarter valued at about $102,000. Institutional investors and hedge funds own 11.07% of the company’s stock.

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.