NetEase, Inc. (NASDAQ:NTES) Receives Consensus Rating of “Moderate Buy” from Brokerages

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 research analysts have rated the stock with a hold recommendation and seven have assigned a buy recommendation to the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $157.3750.

A number of equities analysts have recently weighed in on NTES shares. Morgan Stanley reaffirmed an “overweight” rating and issued a $158.00 price target on shares of NetEase in a research note on Tuesday. Benchmark reaffirmed a “buy” rating on shares of NetEase in a research note on Friday. Nomura dropped their price target on shares of NetEase from $160.00 to $155.00 and set a “buy” rating on the stock in a research note on Friday, February 13th. Wall Street Zen raised shares of NetEase from a “hold” rating to a “buy” rating in a research note on Saturday. Finally, Barclays dropped their price target on shares of NetEase from $135.00 to $132.00 and set an “equal weight” rating on the stock in a research note on Thursday, February 12th.

NetEase Trading Up 5.8%

NASDAQ NTES opened at $123.34 on Wednesday. NetEase has a 1-year low of $106.06 and a 1-year high of $159.55. The company has a market capitalization of $78.15 billion, a PE ratio of 16.38, a price-to-earnings-growth ratio of 1.62 and a beta of 0.72. The firm’s fifty day simple moving average is $114.67 and its 200-day simple moving average is $125.82.

NetEase Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 18th. Stockholders of record on Friday, June 5th will be paid a $0.72 dividend. The ex-dividend date of this dividend is Friday, June 5th. This represents a $2.88 dividend on an annualized basis and a dividend yield of 2.3%. NetEase’s dividend payout ratio is 61.49%.

Hedge Funds Weigh In On NetEase

A number of hedge funds have recently modified their holdings of the stock. Brighton Jones LLC boosted its holdings in NetEase by 1.1% in the fourth quarter. Brighton Jones LLC now owns 10,297 shares of the technology company’s stock worth $919,000 after purchasing an additional 117 shares in the last quarter. Strs Ohio bought a new stake in NetEase in the first quarter worth $63,000. EverSource Wealth Advisors LLC boosted its holdings in NetEase by 106.9% in the second quarter. EverSource Wealth Advisors LLC now owns 542 shares of the technology company’s stock worth $73,000 after purchasing an additional 280 shares in the last quarter. First Trust Advisors LP boosted its holdings in NetEase by 287.4% in the second quarter. First Trust Advisors LP now owns 91,571 shares of the technology company’s stock worth $12,324,000 after purchasing an additional 67,934 shares in the last quarter. Finally, Walleye Capital LLC boosted its holdings in NetEase by 670.9% in the second quarter. Walleye Capital LLC now owns 5,265 shares of the technology company’s stock worth $709,000 after purchasing an additional 4,582 shares in the last quarter. 11.07% of the stock is owned by institutional investors and hedge funds.

About NetEase

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.