Bank of America Boosts NetEase (NASDAQ:NTES) Price Target to $122.00

NetEase (NASDAQ:NTES) had its target price hoisted by Bank of America from $120.00 to $122.00 in a research note issued to investors on Wednesday,Benzinga reports. Bank of America currently has a buy rating on the technology company’s stock.

Several other equities analysts also recently weighed in on NTES. Citigroup raised their price target on NetEase from $108.00 to $115.00 and gave the stock a “buy” rating in a research report on Friday, November 15th. StockNews.com cut NetEase from a “strong-buy” rating to a “buy” rating in a research report on Friday, December 6th. Benchmark reduced their target price on shares of NetEase from $120.00 to $105.00 and set a “buy” rating on the stock in a report on Friday, November 15th. Finally, Morgan Stanley upgraded shares of NetEase from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $90.00 to $108.00 in a report on Wednesday, January 8th. One research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, NetEase presently has an average rating of “Moderate Buy” and an average target price of $108.71.

NetEase Price Performance

NTES stock opened at $99.76 on Wednesday. The company’s 50 day simple moving average is $89.96 and its 200-day simple moving average is $87.92. NetEase has a 12 month low of $75.85 and a 12 month high of $114.50. The firm has a market capitalization of $64.06 billion, a PE ratio of 16.85, a P/E/G ratio of 3.08 and a beta of 0.57.

NetEase Announces Dividend

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. SYSTM Wealth Solutions LLC grew its holdings in shares of NetEase by 55.5% during the second quarter. SYSTM Wealth Solutions LLC now owns 328 shares of the technology company’s stock valued at $31,000 after buying an additional 117 shares in the last quarter. Brooklyn Investment Group purchased a new position in NetEase during the 4th quarter valued at about $34,000. Ariadne Wealth Management LP acquired a new position in shares of NetEase in the 2nd quarter valued at about $35,000. UMB Bank n.a. lifted its position in shares of NetEase by 33.3% in the fourth quarter. UMB Bank n.a. now owns 444 shares of the technology company’s stock worth $40,000 after purchasing an additional 111 shares in the last quarter. Finally, Highline Wealth Partners LLC purchased a new position in shares of NetEase during the 3rd quarter valued at $45,000. 11.07% of the stock is currently owned by institutional investors and hedge funds.

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.