NetEase (NASDAQ:NTES) Shares Gap Down to $101.86

NetEase, Inc. (NASDAQ:NTES - Get Free Report) gapped down before the market opened on Tuesday . The stock had previously closed at $101.86, but opened at $97.53. NetEase shares last traded at $97.45, with a volume of 495,638 shares.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on NTES shares. Morgan Stanley dropped their price objective on shares of NetEase from $135.00 to $120.00 and set an "overweight" rating on the stock in a research note on Friday, April 12th. HSBC cut their price target on shares of NetEase from $130.00 to $126.00 and set a "buy" rating for the company in a report on Wednesday, April 24th. Finally, StockNews.com lowered NetEase from a "strong-buy" rating to a "buy" rating in a report on Monday, April 29th. Eight research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company currently has an average rating of "Buy" and a consensus target price of $126.00.

NetEase Trading Down 4.8 %

The firm has a 50 day moving average of $100.76 and a two-hundred day moving average of $102.59. The stock has a market capitalization of $62.49 billion, a PE ratio of 15.31, a P/E/G ratio of 0.94 and a beta of 0.58.

NetEase (NASDAQ:NTES - Get Free Report) last posted its earnings results on Thursday, February 29th. The technology company reported $1.42 earnings per share for the quarter, missing the consensus estimate of $1.62 by ($0.20). The firm had revenue of $3.82 billion during the quarter, compared to analyst estimates of $3.96 billion. NetEase had a net margin of 28.39% and a return on equity of 24.36%. Equities research analysts forecast that NetEase, Inc. will post 7.04 EPS for the current year.

NetEase Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Thursday, March 14th were given a dividend of $1.08 per share. The ex-dividend date of this dividend was Wednesday, March 13th. This represents a $4.32 dividend on an annualized basis and a yield of 4.46%. This is a boost from NetEase's previous quarterly dividend of $0.50. NetEase's payout ratio is presently 68.09%.

Institutional Investors Weigh In On NetEase

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Wellington Management Group LLP raised its holdings in shares of NetEase by 226.4% in the fourth quarter. Wellington Management Group LLP now owns 1,896,495 shares of the technology company's stock worth $176,677,000 after acquiring an additional 1,315,410 shares during the last quarter. Tairen Capital Ltd acquired a new position in NetEase in the 4th quarter valued at about $164,307,000. WT Asset Management Ltd lifted its holdings in NetEase by 381.1% in the 4th quarter. WT Asset Management Ltd now owns 996,686 shares of the technology company's stock valued at $92,851,000 after purchasing an additional 789,499 shares in the last quarter. Aspex Management HK Ltd acquired a new stake in shares of NetEase during the 4th quarter worth about $59,354,000. Finally, Van ECK Associates Corp grew its holdings in shares of NetEase by 23.8% during the first quarter. Van ECK Associates Corp now owns 580,515 shares of the technology company's stock worth $60,066,000 after buying an additional 111,743 shares in the last quarter. Hedge funds and other institutional investors own 11.07% of the company's stock.

About NetEase

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.