NetEase (NASDAQ:NTES) Trading Down 2.9%

NetEase, Inc. (NASDAQ:NTES)’s share price traded down 2.9% during mid-day trading on Wednesday . The company traded as low as $90.51 and last traded at $90.85. 113,891 shares were traded during mid-day trading, a decline of 93% from the average session volume of 1,713,928 shares. The stock had previously closed at $93.54.

Analysts Set New Price Targets

A number of research firms have recently weighed in on NTES. StockNews.com downgraded shares of NetEase from a “strong-buy” rating to a “buy” rating in a research note on Thursday, June 27th. Barclays began coverage on NetEase in a research report on Thursday, June 13th. They issued an “equal weight” rating and a $104.00 price target on the stock. Morgan Stanley restated an “equal weight” rating and set a $100.00 price objective on shares of NetEase in a research report on Friday, July 5th. HSBC reduced their price objective on shares of NetEase from $130.00 to $126.00 and set a “buy” rating on the stock in a research note on Wednesday, April 24th. Finally, Benchmark increased their price target on NetEase from $144.00 to $145.00 and gave the stock a “buy” rating in a report on Friday, May 24th. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, NetEase has a consensus rating of “Moderate Buy” and a consensus target price of $123.86.

NetEase Stock Performance

The company has a market cap of $58.96 billion, a price-to-earnings ratio of 14.24, a price-to-earnings-growth ratio of 1.80 and a beta of 0.53. The stock’s fifty day moving average is $94.64 and its two-hundred day moving average is $97.91.

NetEase (NASDAQ:NTES) last announced its earnings results on Thursday, May 23rd. The technology company reported $1.63 EPS for the quarter, missing the consensus estimate of $1.68 by ($0.05). NetEase had a net margin of 28.75% and a return on equity of 24.19%. The firm had revenue of $3.72 billion during the quarter, compared to analysts’ expectations of $3.61 billion. On average, equities research analysts expect that NetEase, Inc. will post 6.68 EPS for the current year.

NetEase Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 21st. Investors of record on Thursday, June 6th were given a dividend of $0.495 per share. This represents a $1.98 dividend on an annualized basis and a dividend yield of 2.16%. The ex-dividend date was Thursday, June 6th. NetEase’s payout ratio is 30.54%.

Hedge Funds Weigh In On NetEase

Institutional investors have recently added to or reduced their stakes in the stock. Nordea Investment Management AB boosted its holdings in NetEase by 17.2% in the 1st quarter. Nordea Investment Management AB now owns 318,550 shares of the technology company’s stock worth $33,059,000 after buying an additional 46,635 shares during the period. Boston Partners bought a new position in shares of NetEase in the fourth quarter worth $964,000. Mirae Asset Global Investments Co. Ltd. grew its position in shares of NetEase by 6.3% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 278,802 shares of the technology company’s stock valued at $28,848,000 after purchasing an additional 16,607 shares in the last quarter. Assenagon Asset Management S.A. raised its stake in shares of NetEase by 451.3% during the 4th quarter. Assenagon Asset Management S.A. now owns 511,454 shares of the technology company’s stock valued at $47,647,000 after purchasing an additional 418,677 shares during the period. Finally, Nomura Asset Management Co. Ltd. raised its stake in shares of NetEase by 879.6% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 28,311 shares of the technology company’s stock valued at $2,637,000 after purchasing an additional 25,421 shares during the period. Institutional investors own 11.07% of the company’s stock.

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.