NetEase, Inc. (NASDAQ:NTES) Receives $120.00 Average PT from Brokerages

Shares of NetEase, Inc. (NASDAQ:NTES - Get Free Report) have received a consensus recommendation of "Moderate Buy" from the eight brokerages that are covering the stock, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $120.00.

A number of equities analysts recently issued reports on the stock. Deutsche Bank Aktiengesellschaft started coverage on shares of NetEase in a research note on Monday, May 12th. They issued a "buy" rating and a $130.00 price target for the company. Wall Street Zen raised NetEase from a "buy" rating to a "strong-buy" rating in a research note on Thursday, May 22nd. JPMorgan Chase & Co. downgraded NetEase from an "overweight" rating to a "neutral" rating and lifted their target price for the company from $135.00 to $140.00 in a research note on Monday. Finally, Barclays raised their price target on NetEase from $104.00 to $118.00 and gave the company an "equal weight" rating in a report on Friday, May 16th.

Institutional Investors Weigh In On NetEase

A number of large investors have recently made changes to their positions in NTES. Ninety One UK Ltd grew its holdings in NetEase by 2.2% during the second quarter. Ninety One UK Ltd now owns 6,267,769 shares of the technology company's stock worth $843,516,000 after acquiring an additional 134,967 shares during the period. Capital World Investors lifted its stake in shares of NetEase by 40.6% in the fourth quarter. Capital World Investors now owns 3,725,046 shares of the technology company's stock worth $332,311,000 after buying an additional 1,074,818 shares in the last quarter. Lazard Asset Management LLC increased its holdings in shares of NetEase by 2.0% in the fourth quarter. Lazard Asset Management LLC now owns 3,599,794 shares of the technology company's stock valued at $321,137,000 after purchasing an additional 69,789 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its position in NetEase by 7,698.2% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,817,021 shares of the technology company's stock worth $289,928,000 after buying an additional 2,780,897 shares in the last quarter. Finally, Dodge & Cox grew its holdings in NetEase by 5.8% in the 1st quarter. Dodge & Cox now owns 2,803,664 shares of the technology company's stock valued at $288,553,000 after buying an additional 153,788 shares in the last quarter. 11.07% of the stock is owned by hedge funds and other institutional investors.

NetEase Price Performance

NASDAQ:NTES traded down $2.99 during mid-day trading on Thursday, reaching $127.31. 660,035 shares of the company's stock traded hands, compared to its average volume of 601,411. The company has a 50 day moving average price of $130.65 and a 200-day moving average price of $112.63. The firm has a market capitalization of $80.66 billion, a price-to-earnings ratio of 18.32, a PEG ratio of 4.52 and a beta of 0.68. NetEase has a 12-month low of $75.85 and a 12-month high of $141.45.

NetEase Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, June 13th. Shareholders of record on Friday, May 30th were paid a dividend of $0.675 per share. The ex-dividend date was Friday, May 30th. This represents a $2.70 dividend on an annualized basis and a yield of 2.1%. NetEase's dividend payout ratio is presently 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.