NetEase (NASDAQ:NTES) Shares Down 2.5%

NetEase, Inc. (NASDAQ:NTES)’s share price was down 2.5% during mid-day trading on Tuesday . The stock traded as low as $92.21 and last traded at $92.55. Approximately 326,325 shares traded hands during trading, a decline of 81% from the average daily volume of 1,732,372 shares. The stock had previously closed at $94.88.

Analysts Set New Price Targets

Several research analysts have issued reports on NTES shares. Morgan Stanley dropped their price objective on NetEase from $135.00 to $120.00 and set an “overweight” rating for the company in a research note on Friday, April 12th. HSBC decreased their target price on NetEase from $130.00 to $126.00 and set a “buy” rating on the stock in a report on Wednesday. Finally, StockNews.com upgraded NetEase from a “buy” rating to a “strong-buy” rating in a report on Tuesday, March 26th. Seven analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Buy” and an average target price of $126.00.

NetEase Stock Up 1.0 %

The stock has a market cap of $60.62 billion, a P/E ratio of 14.85, a PEG ratio of 0.85 and a beta of 0.58. The stock has a fifty day simple moving average of $102.78 and a 200-day simple moving average of $103.09.

NetEase (NASDAQ:NTES) last issued its earnings results on Thursday, February 29th. The technology company reported $1.42 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.62 by ($0.20). The company had revenue of $3.82 billion for the quarter, compared to the consensus estimate of $3.96 billion. NetEase had a return on equity of 24.36% and a net margin of 28.39%. Sell-side analysts anticipate that NetEase, Inc. will post 7.04 earnings per share for the current year.

NetEase Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Thursday, March 14th were given a dividend of $1.08 per share. The ex-dividend date was Wednesday, March 13th. This represents a $4.32 dividend on an annualized basis and a dividend yield of 4.59%. This is a positive change from NetEase’s previous quarterly dividend of $0.50. NetEase’s dividend payout ratio (DPR) is currently 68.09%.

Institutional Investors Weigh In On NetEase

A number of hedge funds have recently modified their holdings of the business. Simplicity Wealth LLC acquired a new stake in shares of NetEase during the first quarter worth about $520,000. Naviter Wealth LLC acquired a new stake in shares of NetEase during the first quarter worth about $556,000. Wealth Enhancement Advisory Services LLC raised its position in shares of NetEase by 4.7% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 9,501 shares of the technology company’s stock worth $983,000 after purchasing an additional 430 shares during the period. Guinness Asset Management LTD raised its position in shares of NetEase by 8.3% during the first quarter. Guinness Asset Management LTD now owns 80,371 shares of the technology company’s stock worth $8,316,000 after purchasing an additional 6,190 shares during the period. Finally, Park Avenue Securities LLC raised its position in shares of NetEase by 7.3% during the first quarter. Park Avenue Securities LLC now owns 5,695 shares of the technology company’s stock worth $589,000 after purchasing an additional 387 shares during the period. Institutional investors and hedge funds own 11.07% of the company’s stock.

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.