NetEase, Inc. (NASDAQ:NTES) Receives $157.38 Average PT from Brokerages

Shares of NetEase, Inc. (NASDAQ:NTES) have been given a consensus recommendation of “Moderate Buy” by the ten research firms that are presently covering the company, MarketBeat Ratings reports. Three investment analysts have rated the stock with a hold recommendation and seven have assigned a buy recommendation to the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $157.3750.

A number of equities analysts recently weighed in on NTES shares. Nomura decreased their price objective on NetEase from $160.00 to $155.00 and set a “buy” rating on the stock in a report on Friday, February 13th. Citigroup restated a “buy” rating on shares of NetEase in a report on Wednesday, February 11th. Benchmark restated a “buy” rating on shares of NetEase in a report on Friday, May 22nd. Wall Street Zen upgraded NetEase from a “hold” rating to a “buy” rating in a report on Saturday, May 23rd. Finally, Barclays dropped their target price on NetEase from $135.00 to $132.00 and set an “equal weight” rating for the company in a report on Thursday, February 12th.

NetEase Trading Up 1.2%

Shares of NASDAQ NTES opened at $124.75 on Wednesday. The stock has a market cap of $79.64 billion, a price-to-earnings ratio of 16.57, a P/E/G ratio of 1.71 and a beta of 0.72. NetEase has a 1-year low of $106.06 and a 1-year high of $159.55. The stock’s 50-day moving average is $115.12 and its 200 day moving average is $125.35.

NetEase Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 18th. Shareholders of record on Friday, June 5th will be given a dividend of $0.72 per share. The ex-dividend date of this dividend is Friday, June 5th. This represents a $2.88 dividend on an annualized basis and a yield of 2.3%. NetEase’s dividend payout ratio is presently 38.11%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. V Square Quantitative Management LLC bought a new position in NetEase during the 1st quarter valued at approximately $25,000. Cornerstone Planning Group LLC bought a new position in NetEase during the 3rd quarter valued at approximately $33,000. Atlas Capital Advisors Inc. bought a new position in NetEase during the 4th quarter valued at approximately $47,000. Smartleaf Asset Management LLC raised its position in NetEase by 3,381.8% during the 2nd quarter. Smartleaf Asset Management LLC now owns 383 shares of the technology company’s stock valued at $51,000 after purchasing an additional 372 shares during the last quarter. Finally, Harbour Investments Inc. raised its position in NetEase by 7,480.0% during the 4th quarter. Harbour Investments Inc. now owns 379 shares of the technology company’s stock valued at $52,000 after purchasing an additional 374 shares during the last quarter. Institutional investors 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.