NetEase (NASDAQ:NTES) Shares Gap Down to $66.28

Shares of NetEase, Inc. (NASDAQ:NTESGet Rating) gapped down before the market opened on Tuesday . The stock had previously closed at $66.28, but opened at $64.49. NetEase shares last traded at $64.74, with a volume of 15,928 shares.

Analysts Set New Price Targets

Several brokerages have issued reports on NTES. TheStreet lowered NetEase from a “b-” rating to a “c” rating in a research note on Monday, November 7th. HSBC lowered their target price on NetEase from $122.00 to $105.00 and set a “buy” rating for the company in a research note on Friday, November 18th. StockNews.com raised NetEase from a “buy” rating to a “strong-buy” rating in a research note on Wednesday. JPMorgan Chase & Co. lowered NetEase from an “overweight” rating to a “neutral” rating and lowered their target price for the company from $120.00 to $90.00 in a research note on Wednesday, September 7th. Finally, Citigroup boosted their target price on NetEase from $98.00 to $100.00 and gave the company a “buy” rating in a research note on Friday, November 18th. One analyst has rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, NetEase presently has an average rating of “Buy” and an average price target of $111.50.

NetEase Stock Performance

The company has a market cap of $43.63 billion, a PE ratio of 13.30, a P/E/G ratio of 1.15 and a beta of 0.37. The company has a current ratio of 2.31, a quick ratio of 2.29 and a debt-to-equity ratio of 0.03. The business has a fifty day moving average of $70.00 and a 200-day moving average of $84.90.

NetEase Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 16th. Investors of record on Friday, December 2nd will be issued a dividend of $0.435 per share. This represents a $1.74 dividend on an annualized basis and a yield of 2.61%. The ex-dividend date is Thursday, December 1st. This is an increase from NetEase’s previous quarterly dividend of $0.36. NetEase’s payout ratio is currently 28.54%.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the business. CI Investments Inc. increased its holdings in NetEase by 25.3% during the 2nd quarter. CI Investments Inc. now owns 643 shares of the technology company’s stock valued at $60,000 after purchasing an additional 130 shares during the period. Pacer Advisors Inc. increased its holdings in NetEase by 2.6% during the 3rd quarter. Pacer Advisors Inc. now owns 5,957 shares of the technology company’s stock valued at $450,000 after purchasing an additional 150 shares during the period. Cambridge Investment Research Advisors Inc. increased its holdings in NetEase by 4.4% during the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 4,110 shares of the technology company’s stock valued at $311,000 after purchasing an additional 172 shares during the period. Cadence Bank increased its holdings in NetEase by 2.3% during the 2nd quarter. Cadence Bank now owns 9,465 shares of the technology company’s stock valued at $884,000 after purchasing an additional 210 shares during the period. Finally, Naviter Wealth LLC increased its holdings in NetEase by 6.8% during the 3rd quarter. Naviter Wealth LLC now owns 3,442 shares of the technology company’s stock valued at $260,000 after purchasing an additional 220 shares during the period. Hedge funds and other institutional investors own 14.76% of the company’s stock.

About NetEase

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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.

Further Reading

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