Brokerages Set NetEase, Inc. (NASDAQ:NTES) PT at $119.38

Shares of NetEase, Inc. (NASDAQ:NTES - Get Free Report) have been given a consensus rating of "Moderate Buy" by the eight research firms that are presently covering the stock, MarketBeat Ratings reports. One research analyst has 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 $119.38.

NTES has been the subject of several analyst reports. Deutsche Bank Aktiengesellschaft initiated coverage on shares of NetEase in a research report on Monday, May 12th. They set a "buy" rating and a $130.00 price target for the company. Morgan Stanley raised their price target on shares of NetEase from $108.00 to $117.00 and gave the stock an "overweight" rating in a research report on Wednesday, February 12th. Barclays boosted their price objective on NetEase from $104.00 to $118.00 and gave the company an "equal weight" rating in a report on Friday, May 16th. Benchmark increased their price target on shares of NetEase from $105.00 to $115.00 and gave the stock a "buy" rating in a report on Friday, February 21st. Finally, JPMorgan Chase & Co. raised their price objective on NetEase from $120.00 to $135.00 and gave the company an "overweight" rating in a report on Monday, May 19th.

NetEase Stock Up 1.2%

Shares of NTES stock traded up $1.63 on Wednesday, hitting $132.97. The stock had a trading volume of 1,135,644 shares, compared to its average volume of 1,536,689. The business has a 50 day moving average price of $110.07 and a 200 day moving average price of $102.15. NetEase has a one year low of $75.85 and a one year high of $133.70. The company has a market cap of $84.25 billion, a PE ratio of 20.87, a P/E/G ratio of 3.37 and a beta of 0.67.

NetEase Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 13th. Investors of record on Friday, May 30th will be paid a dividend of $0.675 per share. The ex-dividend date is Friday, May 30th. This represents a $2.70 annualized dividend and a yield of 2.03%. NetEase's dividend payout ratio is presently 38.71%.

Institutional Investors Weigh In On NetEase

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Pine Haven Investment Counsel Inc acquired a new stake in shares of NetEase during the 1st quarter worth approximately $206,000. Public Employees Retirement System of Ohio raised its stake in shares of NetEase by 3.1% in the fourth quarter. Public Employees Retirement System of Ohio now owns 128,316 shares of the technology company's stock valued at $11,447,000 after acquiring an additional 3,883 shares in the last quarter. SVB Wealth LLC acquired a new stake in NetEase in the 4th quarter valued at about $3,817,000. Focus Partners Wealth purchased a new position in NetEase in the fourth quarter worth approximately $310,000. Finally, Greenwoods Asset Management Hong Kong Ltd. lifted its position in shares of NetEase by 10.8% during the 4th quarter. Greenwoods Asset Management Hong Kong Ltd. now owns 3,632,870 shares of the technology company's stock worth $324,088,000 after purchasing an additional 354,273 shares during the last quarter. Institutional investors and hedge funds 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.