Bank of America Issues Positive Forecast for NetEase (NASDAQ:NTES) Stock Price

NetEase (NASDAQ:NTES) had its price target raised by Bank of America from $120.00 to $122.00 in a research note published on Wednesday,Benzinga reports. Bank of America currently has a buy rating on the technology company’s stock.

Several other analysts have also recently weighed in on NTES. Benchmark lowered their price target on NetEase from $120.00 to $105.00 and set a “buy” rating on the stock in a report on Friday, November 15th. StockNews.com lowered shares of NetEase from a “strong-buy” rating to a “buy” rating in a report on Friday, December 6th. Citigroup increased their price objective on NetEase from $108.00 to $115.00 and gave the company a “buy” rating in a research report on Friday, November 15th. Finally, Morgan Stanley raised shares of NetEase from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $90.00 to $108.00 in a research note on Wednesday, January 8th. One analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $108.71.

NetEase Stock Up 8.2 %

NTES opened at $103.92 on Wednesday. The firm has a 50-day moving average price of $89.12 and a 200-day moving average price of $87.72. The company has a market capitalization of $66.73 billion, a price-to-earnings ratio of 17.55, a PEG ratio of 3.08 and a beta of 0.57. NetEase has a twelve month low of $75.85 and a twelve month high of $114.50.

NetEase Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, December 13th. Investors of record on Friday, November 29th were issued a $0.435 dividend. This represents a $1.74 annualized dividend and a yield of 1.67%. The ex-dividend date was Friday, November 29th. NetEase’s dividend payout ratio (DPR) is currently 29.22%.

Institutional Investors Weigh In On NetEase

Institutional investors and hedge funds have recently modified their holdings of the stock. SYSTM Wealth Solutions LLC lifted its holdings in NetEase by 55.5% in the second quarter. SYSTM Wealth Solutions LLC now owns 328 shares of the technology company’s stock worth $31,000 after buying an additional 117 shares during the period. Ariadne Wealth Management LP purchased a new position in shares of NetEase in the 2nd quarter valued at approximately $35,000. Brooklyn Investment Group bought a new stake in shares of NetEase during the fourth quarter valued at approximately $34,000. Highline Wealth Partners LLC bought a new stake in shares of NetEase during the third quarter valued at approximately $45,000. Finally, RPg Family Wealth Advisory LLC purchased a new stake in NetEase in the third quarter worth $70,000. 11.07% of the stock is owned by hedge funds and other institutional investors.

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.