NetEase, Inc. (NASDAQ:NTES – Get Free Report) announced a quarterly dividend on Thursday, November 16th, Zacks reports. Investors of record on Friday, December 1st will be given a dividend of 0.495 per share by the technology company on Friday, December 15th. This represents a $1.98 annualized dividend and a dividend yield of 1.76%. The ex-dividend date is Thursday, November 30th.
NetEase has increased its dividend by an average of 6.2% annually over the last three years and has raised its dividend annually for the last 1 consecutive years. NetEase has a payout ratio of 32.5% indicating that its dividend is sufficiently covered by earnings. Research analysts expect NetEase to earn $6.95 per share next year, which means the company should continue to be able to cover its $2.10 annual dividend with an expected future payout ratio of 30.2%.
NetEase Stock Performance
NetEase stock opened at $112.35 on Friday. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.93 and a quick ratio of 2.91. NetEase has a 12 month low of $63.25 and a 12 month high of $116.33. The company has a fifty day moving average price of $104.79 and a two-hundred day moving average price of $99.89. The company has a market cap of $73.56 billion, a PE ratio of 20.17, a P/E/G ratio of 1.15 and a beta of 0.56.
Wall Street Analysts Forecast Growth
A number of brokerages have commented on NTES. StockNews.com downgraded NetEase from a “strong-buy” rating to a “buy” rating in a research note on Tuesday. Bank of America boosted their price objective on NetEase from $128.00 to $135.00 and gave the company a “buy” rating in a research report on Friday, August 25th. Benchmark increased their target price on NetEase from $118.00 to $130.00 and gave the stock a “buy” rating in a research report on Friday, August 25th. JPMorgan Chase & Co. boosted their price target on shares of NetEase from $120.00 to $125.00 and gave the company an “overweight” rating in a report on Tuesday, August 29th. Finally, Citigroup dropped their price objective on shares of NetEase from $134.00 to $132.00 and set a “buy” rating on the stock in a report on Friday, August 25th. Seven research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $122.13.
Institutional Investors Weigh In On NetEase
A number of hedge funds and other institutional investors have recently modified their holdings of NTES. Pinpoint Asset Management Ltd bought a new position in NetEase during the 1st quarter valued at $42,000. First Capital Advisors Group LLC. acquired a new stake in shares of NetEase in the second quarter valued at $47,000. Atlas Capital Advisors LLC bought a new position in NetEase during the second quarter valued at about $58,000. Penserra Capital Management LLC grew its holdings in NetEase by 91.1% during the fourth quarter. Penserra Capital Management LLC now owns 837 shares of the technology company’s stock worth $60,000 after acquiring an additional 399 shares during the period. Finally, Ancora Advisors LLC raised its position in NetEase by 84.6% in the first quarter. Ancora Advisors LLC now owns 1,200 shares of the technology company’s stock worth $124,000 after acquiring an additional 550 shares in the last quarter. 11.78% of the stock is currently owned by institutional investors.
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.
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