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

NetEase, Inc. (NASDAQ:NTES - Get Free Report) has earned an average recommendation of "Moderate Buy" from the eight analysts that are presently covering the company, MarketBeat Ratings reports. One 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 brokerages that have issued ratings on the stock in the last year is $119.38.

A number of research analysts have weighed in on NTES shares. JPMorgan Chase & Co. raised their target price on shares of NetEase from $120.00 to $135.00 and gave the stock an "overweight" rating in a research note on Monday, May 19th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of NetEase in a research note on Monday, May 12th. They issued a "buy" rating and a $130.00 target price on the stock. Wall Street Zen upgraded NetEase from a "buy" rating to a "strong-buy" rating in a report on Thursday, May 22nd. Benchmark upped their price objective on NetEase from $105.00 to $115.00 and gave the company a "buy" rating in a report on Friday, February 21st. Finally, Barclays upped 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.

Institutional Trading of NetEase

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Sumitomo Mitsui Trust Group Inc. raised its position in NetEase by 1.6% in the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 7,190 shares of the technology company's stock valued at $641,000 after purchasing an additional 114 shares during the period. Brighton Jones LLC increased its position in shares of NetEase by 1.1% during the fourth quarter. Brighton Jones LLC now owns 10,297 shares of the technology company's stock worth $919,000 after acquiring an additional 117 shares during the period. Concurrent Investment Advisors LLC increased its position in shares of NetEase by 5.4% during the first quarter. Concurrent Investment Advisors LLC now owns 2,569 shares of the technology company's stock worth $264,000 after acquiring an additional 132 shares during the period. Fifth Third Bancorp increased its position in shares of NetEase by 2.7% during the first quarter. Fifth Third Bancorp now owns 5,264 shares of the technology company's stock worth $542,000 after acquiring an additional 138 shares during the period. Finally, Hardy Reed LLC increased its position in shares of NetEase by 1.7% during the first quarter. Hardy Reed LLC now owns 8,394 shares of the technology company's stock worth $864,000 after acquiring an additional 139 shares during the period. Hedge funds and other institutional investors own 11.07% of the company's stock.

NetEase Stock Down 2.5%

NTES traded down $3.38 during trading on Wednesday, reaching $129.38. The company's stock had a trading volume of 1,330,537 shares, compared to its average volume of 1,540,889. The firm has a fifty day simple moving average of $112.32 and a two-hundred day simple moving average of $102.98. NetEase has a 1 year low of $75.85 and a 1 year high of $133.80. The company has a market cap of $81.97 billion, a price-to-earnings ratio of 20.31, a PEG ratio of 3.37 and a beta of 0.67.

NetEase Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, June 13th. Shareholders of record on Friday, May 30th were given a $0.675 dividend. This represents a $2.70 dividend on an annualized basis and a yield of 2.09%. The ex-dividend date was Friday, May 30th. NetEase's payout ratio is 38.71%.

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.