NetEase, Inc. (NASDAQ:NTES) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Shares of NetEase, Inc. (NASDAQ:NTES) have earned an average rating of “Moderate Buy” from the seven ratings firms that are presently covering the firm, MarketBeat reports. One research analyst has rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $108.71.

A number of research analysts have weighed in on NTES shares. Morgan Stanley raised NetEase from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $90.00 to $108.00 in a research note on Wednesday, January 8th. StockNews.com downgraded NetEase from a “strong-buy” rating to a “buy” rating in a research report on Friday, December 6th. Bank of America lifted their price target on NetEase from $120.00 to $122.00 and gave the company a “buy” rating in a report on Wednesday, January 15th. Citigroup increased their price objective on shares of NetEase from $108.00 to $115.00 and gave the stock a “buy” rating in a report on Friday, November 15th. Finally, Benchmark lowered their target price on shares of NetEase from $120.00 to $105.00 and set a “buy” rating for the company in a report on Friday, November 15th.

Hedge Funds Weigh In On NetEase

Hedge funds have recently made changes to their positions in the business. Guinness Asset Management LTD raised its position in NetEase by 16.7% in the third quarter. Guinness Asset Management LTD now owns 86,741 shares of the technology company’s stock valued at $8,111,000 after purchasing an additional 12,410 shares during the period. Assetmark Inc. grew its stake in shares of NetEase by 27.3% in the third quarter. Assetmark Inc. now owns 38,469 shares of the technology company’s stock valued at $3,597,000 after buying an additional 8,248 shares in the last quarter. Cetera Investment Advisers raised its holdings in shares of NetEase by 56.8% during the 2nd quarter. Cetera Investment Advisers now owns 17,123 shares of the technology company’s stock valued at $1,637,000 after buying an additional 6,203 shares during the period. SG Americas Securities LLC acquired a new position in NetEase during the 4th quarter worth approximately $654,000. Finally, WT Asset Management Ltd purchased a new position in NetEase in the 4th quarter worth approximately $2,624,000. Hedge funds and other institutional investors own 11.07% of the company’s stock.

NetEase Stock Performance

Shares of NTES opened at $104.93 on Thursday. NetEase has a 1 year low of $75.85 and a 1 year high of $114.50. The company’s 50 day simple moving average is $95.61 and its 200 day simple moving average is $88.81. The company has a market capitalization of $67.38 billion, a price-to-earnings ratio of 17.72, a PEG ratio of 3.45 and a beta of 0.58.

NetEase Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, December 13th. Investors of record on Friday, November 29th were issued a $0.435 dividend. The ex-dividend date of this dividend was Friday, November 29th. This represents a $1.74 annualized dividend and a yield of 1.66%. NetEase’s payout ratio is 29.22%.

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.