Brokerages Set NetEase, Inc. (NASDAQ:NTES) PT at $153.89

Shares of NetEase, Inc. (NASDAQ:NTES) have been assigned an average rating of “Moderate Buy” from the eleven research firms that are currently covering the firm, Marketbeat reports. Three equities research analysts have rated the stock with a hold recommendation and eight have assigned a buy recommendation to the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $153.8889.

Several analysts have recently issued reports on the company. Citigroup restated a “buy” rating on shares of NetEase in a research report on Wednesday, February 11th. Benchmark restated a “buy” rating on shares of NetEase in a research report on Thursday, February 12th. Nomura reduced their price objective on NetEase from $160.00 to $155.00 and set a “buy” rating on the stock in a research report on Friday, February 13th. Barclays reduced their price objective on NetEase from $135.00 to $132.00 and set an “equal weight” rating on the stock in a research report on Thursday, February 12th. Finally, Morgan Stanley restated an “overweight” rating and issued a $154.00 price objective on shares of NetEase in a research report on Monday, March 2nd.

Hedge Funds Weigh In On NetEase

Several large investors have recently added to or reduced their stakes in NTES. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in NetEase by 68,860.6% during the third quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 8,551,117 shares of the technology company’s stock worth $1,299,684,000 after buying an additional 8,538,717 shares during the period. Bank of Montreal Can lifted its position in NetEase by 1,636.4% during the third quarter. Bank of Montreal Can now owns 662,557 shares of the technology company’s stock worth $100,702,000 after buying an additional 624,399 shares during the period. PBU The Pension Fund of Early Childhood & Youth Educators purchased a new position in NetEase during the fourth quarter worth about $44,214,000. Man Group plc lifted its position in NetEase by 33.3% during the second quarter. Man Group plc now owns 983,156 shares of the technology company’s stock worth $132,313,000 after buying an additional 245,872 shares during the period. Finally, Causeway Capital Management LLC lifted its position in NetEase by 44.6% during the third quarter. Causeway Capital Management LLC now owns 638,315 shares of the technology company’s stock worth $97,017,000 after buying an additional 196,821 shares during the period. 11.07% of the stock is currently owned by hedge funds and other institutional investors.

NetEase Stock Down 1.0%

Shares of NASDAQ:NTES opened at $115.91 on Friday. NetEase has a 52-week low of $103.22 and a 52-week high of $159.55. The stock’s fifty day simple moving average is $114.59 and its 200-day simple moving average is $128.38. The company has a market capitalization of $73.44 billion, a P/E ratio of 15.79, a P/E/G ratio of 1.51 and a beta of 0.72.

NetEase Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 27th. Stockholders of record on Monday, March 16th were given a $1.16 dividend. This is an increase from NetEase’s previous quarterly dividend of $0.57. This represents a $4.64 annualized dividend and a dividend yield of 4.0%. The ex-dividend date was Monday, March 16th. NetEase’s dividend payout ratio (DPR) is currently 63.08%.

About NetEase

NetEase, Inc (NASDAQ: NTES) is a Chinese technology company headquartered in Hangzhou that develops and operates Internet services and products. Founded in 1997 by William Ding (Ding Lei), the company has grown from an early web portal and e-mail provider into a diversified online services group. William Ding has served as the company’s founder and long-time leader, guiding its expansion into games, digital content and consumer services.

The company’s primary business is interactive entertainment: NetEase Games designs, develops and publishes PC and mobile games for domestic and international audiences, offering a mix of self-developed franchises and titles published under licensing and strategic partnerships.