Shares of NetEase, Inc. (NASDAQ:NTES – Get Rating) have been assigned a consensus recommendation of “Buy” from the nine brokerages that are presently covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a hold recommendation, seven have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $125.63.
Several equities research analysts recently weighed in on the stock. Citigroup increased their target price on shares of NetEase from $132.00 to $140.00 and gave the company a “buy” rating in a research note on Friday, August 19th. Macquarie started coverage on shares of NetEase in a research note on Tuesday, July 5th. They set an “outperform” rating and a $129.00 price target for the company. StockNews.com upgraded shares of NetEase from a “buy” rating to a “strong-buy” rating in a research note on Monday, August 22nd. Finally, JPMorgan Chase & Co. cut shares of NetEase from an “overweight” rating to a “neutral” rating and cut their price target for the stock from $120.00 to $90.00 in a research note on Wednesday, September 7th.
Institutional Trading of NetEase
Institutional investors have recently bought and sold shares of the business. Bank Julius Baer & Co. Ltd Zurich acquired a new stake in NetEase during the 2nd quarter worth $31,000. James Investment Research Inc. acquired a new stake in NetEase during the 2nd quarter worth $34,000. CWM LLC grew its holdings in NetEase by 127.7% during the 2nd quarter. CWM LLC now owns 444 shares of the technology company’s stock worth $41,000 after acquiring an additional 249 shares during the period. Strs Ohio acquired a new position in shares of NetEase in the 2nd quarter valued at $56,000. Finally, CI Investments Inc. grew its holdings in shares of NetEase by 25.3% in the 2nd quarter. CI Investments Inc. now owns 643 shares of the technology company’s stock valued at $60,000 after buying an additional 130 shares during the period. Institutional investors and hedge funds own 14.76% of the company’s stock.
NetEase Stock Down 1.0 %
NetEase Increases Dividend
The business also recently declared a quarterly dividend, which was paid on Friday, September 16th. Investors of record on Thursday, September 1st were issued a $0.36 dividend. The ex-dividend date of this dividend was Wednesday, August 31st. This represents a $1.44 dividend on an annualized basis and a dividend yield of 1.82%. This is a positive change from NetEase’s previous quarterly dividend of $0.32. NetEase’s dividend payout ratio (DPR) is currently 33.18%.
NetEase Company Profile
NetEase, Inc provides online services focusing on diverse content, community, communication, and commerce in the Peoples' Republic of China and internationally. The company operates in three segments: Online Game Services, Youdao, Cloud Music, and Innovative Businesses and Others. It develops and operates PC and mobile games, as well as offers games licensed from other game developers.
- Get a free copy of the StockNews.com research report on NetEase (NTES)
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