NetEase, Inc. (NASDAQ:NTES) Receives $153.89 Average Price Target from Brokerages

Shares of NetEase, Inc. (NASDAQ:NTES) have earned a consensus rating of “Moderate Buy” from the eleven brokerages that are currently covering the stock, MarketBeat reports. Three research analysts have rated the stock with a hold recommendation and eight have issued a buy recommendation on the company. The average 1 year price objective among brokers that have covered the stock in the last year is $153.8889.

Several equities analysts have commented on NTES shares. Nomura lowered their price target on NetEase from $160.00 to $155.00 and set a “buy” rating on the stock in a report on Friday, February 13th. Morgan Stanley reiterated an “overweight” rating and set a $154.00 price target on shares of NetEase in a report on Monday, March 2nd. Weiss Ratings reiterated a “hold (c)” rating on shares of NetEase in a report on Monday, December 22nd. Barclays lowered their price target on NetEase from $135.00 to $132.00 and set an “equal weight” rating on the stock in a report on Thursday, February 12th. Finally, Citigroup reiterated a “buy” rating on shares of NetEase in a report on Wednesday, February 11th.

NetEase Stock Performance

NASDAQ:NTES opened at $113.25 on Tuesday. The stock’s 50 day moving average price is $117.04 and its 200 day moving average price is $133.14. NetEase has a 52 week low of $93.02 and a 52 week high of $159.55. The company has a market capitalization of $71.75 billion, a P/E ratio of 15.43, a P/E/G ratio of 1.47 and a beta of 0.76.

NetEase Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 27th. Shareholders of record on Monday, March 16th were issued a dividend of $1.16 per share. This represents a $4.64 annualized dividend and a yield of 4.1%. This is a boost from NetEase’s previous quarterly dividend of $0.57. The ex-dividend date was Monday, March 16th. NetEase’s dividend payout ratio is 63.08%.

Hedge Funds Weigh In On NetEase

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Cornerstone Planning Group LLC acquired a new position in NetEase during the third quarter valued at approximately $33,000. Steigerwald Gordon & Koch Inc. acquired a new stake in shares of NetEase in the third quarter worth $38,000. First Horizon Corp acquired a new stake in shares of NetEase in the third quarter worth $45,000. Mather Group LLC. acquired a new stake in shares of NetEase in the third quarter worth $46,000. Finally, Atlas Capital Advisors Inc. acquired a new stake in shares of NetEase in the fourth quarter worth $47,000. Institutional investors and hedge funds 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.