NetEase (NASDAQ:NTES) Shares Gap Up to $98.76

NetEase, Inc. (NASDAQ:NTES - Get Free Report) shares gapped up prior to trading on Thursday . The stock had previously closed at $98.76, but opened at $101.50. NetEase shares last traded at $104.23, with a volume of 498,620 shares changing hands.

Wall Street Analysts Forecast Growth

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

NetEase Trading Up 5.5 %

The business's 50 day moving average price is $99.59 and its two-hundred day moving average price is $102.34. The company has a market capitalization of $67.19 billion, a price-to-earnings ratio of 16.40, a P/E/G ratio of 0.91 and a beta of 0.58.

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

NetEase Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Thursday, March 14th were given a $1.08 dividend. The ex-dividend date was Wednesday, March 13th. This is an increase from NetEase's previous quarterly dividend of $0.50. This represents a $4.32 annualized dividend and a yield of 4.15%. NetEase's dividend payout ratio (DPR) is currently 68.09%.

Institutional Investors Weigh In On NetEase

Several hedge funds have recently added to or reduced their stakes in NTES. Cambridge Investment Research Advisors Inc. increased its stake in shares of NetEase by 13.2% in the third quarter. Cambridge Investment Research Advisors Inc. now owns 6,467 shares of the technology company's stock valued at $648,000 after buying an additional 752 shares during the period. Park Avenue Securities LLC acquired a new position in shares of NetEase in the 3rd quarter worth approximately $426,000. Assetmark Inc. lifted its position in shares of NetEase by 37.8% in the 3rd quarter. Assetmark Inc. now owns 5,289 shares of the technology company's stock worth $530,000 after purchasing an additional 1,452 shares during the period. Fifth Third Bancorp lifted its position in shares of NetEase by 27.0% in the 3rd quarter. Fifth Third Bancorp now owns 8,670 shares of the technology company's stock worth $868,000 after purchasing an additional 1,841 shares during the period. Finally, Panagora Asset Management Inc. lifted its position in shares of NetEase by 1.5% in the 3rd quarter. Panagora Asset Management Inc. now owns 12,201 shares of the technology company's stock worth $1,222,000 after purchasing an additional 178 shares during the period. 11.07% of the stock is currently owned by institutional investors and hedge funds.

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.