NetEase, Inc. (NASDAQ:NTES) Receives Average Rating of “Buy” from Analysts

Shares of NetEase, Inc. (NASDAQ:NTES – Get Rating) have earned an average rating of “Buy” from the eight ratings firms that are currently covering the firm, MarketBeat reports. Six analysts have rated the stock with a buy recommendation. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $112.67.

Several equities analysts have recently issued reports on the stock. StockNews.com initiated coverage on shares of NetEase in a research note on Friday. They issued a “buy” rating on the stock. HSBC dropped their price target on NetEase from $122.00 to $105.00 and set a “buy” rating on the stock in a report on Friday, November 18th. JPMorgan Chase & Co. upgraded NetEase from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $85.00 to $100.00 in a report on Tuesday, February 28th. Morgan Stanley boosted their target price on NetEase from $85.00 to $95.00 in a research report on Wednesday, December 14th. Finally, Citigroup increased their price target on NetEase from $100.00 to $115.00 and gave the company a “buy” rating in a research report on Monday, February 27th.

Institutional Trading of NetEase

A number of hedge funds have recently made changes to their positions in the stock. Huntington National Bank increased its stake in NetEase by 36.7% in the 4th quarter. Huntington National Bank now owns 432 shares of the technology company’s stock valued at $31,000 after buying an additional 116 shares during the period. CI Investments Inc. increased its stake in shares of NetEase by 25.3% in the second quarter. CI Investments Inc. now owns 643 shares of the technology company’s stock worth $60,000 after acquiring an additional 130 shares during the last quarter. Banco Bilbao Vizcaya Argentaria S.A. raised its holdings in shares of NetEase by 3.2% during the fourth quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 4,295 shares of the technology company’s stock worth $312,000 after acquiring an additional 134 shares in the last quarter. Rosenberg Matthew Hamilton boosted its position in NetEase by 9.3% during the fourth quarter. Rosenberg Matthew Hamilton now owns 1,628 shares of the technology company’s stock valued at $118,000 after purchasing an additional 138 shares during the last quarter. Finally, Pacer Advisors Inc. grew its stake in NetEase by 2.6% in the third 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 in the last quarter. 13.50% of the stock is owned by hedge funds and other institutional investors.

NetEase Price Performance

NASDAQ:NTES opened at $85.51 on Friday. The company has a quick ratio of 2.30, a current ratio of 2.32 and a debt-to-equity ratio of 0.03. The business’s 50-day moving average price is $86.21 and its 200 day moving average price is $77.36. NetEase has a 52-week low of $53.09 and a 52-week high of $108.77. The firm has a market cap of $55.99 billion, a P/E ratio of 18.79 and a beta of 0.49.

NetEase Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 24th. Investors of record on Thursday, March 9th will be given a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a yield of 1.26%. The ex-dividend date of this dividend is Wednesday, March 8th. NetEase’s payout ratio is 23.52%.

NetEase Company Profile

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NetEase, Inc is an internet technology company, which engages in the provision of premium online services centered around content, community, communication and commerce. It develops and operates some of the most popular PC-client and mobile games in China. The firm also operates some of the most popular international online games in China by partnering with Blizzard Entertainment, Mojang AB (a Microsoft subsidiary) and other global game developers.