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

NetEase, Inc. (NASDAQ:NTES) has received an average rating of “Buy” from the five ratings firms that are currently covering the stock, Marketbeat.com reports. Five research analysts have rated the stock with a buy recommendation. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $126.00.

Separately, StockNews.com cut shares of NetEase from a “strong-buy” rating to a “buy” rating in a research note on Monday.

NetEase Price Performance

Shares of NetEase stock traded down $1.17 on Monday, reaching $105.76. 1,070,648 shares of the company traded hands, compared to its average volume of 1,896,162. NetEase has a 52 week low of $80.79 and a 52 week high of $118.89. The company has a 50 day moving average of $102.57 and a 200 day moving average of $103.50. The firm has a market capitalization of $68.19 billion, a PE ratio of 16.71, a PEG ratio of 0.93 and a beta of 0.59.

NetEase Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 28th. Shareholders of record on Thursday, March 14th will be paid a $1.08 dividend. The ex-dividend date of this dividend is Wednesday, March 13th. This is a boost from NetEase’s previous quarterly dividend of $0.50. This represents a $4.32 annualized dividend and a yield of 4.08%. NetEase’s dividend payout ratio is currently 68.09%.

Institutional Trading of NetEase

Several institutional investors and hedge funds have recently made changes to their positions in NTES. Tairen Capital Ltd bought a new position in shares of NetEase during the 4th quarter valued at $164,307,000. Wellington Management Group LLP grew its holdings in shares of NetEase by 226.4% during the 4th quarter. Wellington Management Group LLP now owns 1,896,495 shares of the technology company’s stock valued at $176,677,000 after purchasing an additional 1,315,410 shares during the last quarter. WT Asset Management Ltd grew its holdings in shares of NetEase by 381.1% during the 4th quarter. WT Asset Management Ltd now owns 996,686 shares of the technology company’s stock valued at $92,851,000 after purchasing an additional 789,499 shares during the last quarter. Nuveen Asset Management LLC grew its holdings in NetEase by 98.9% in the 2nd quarter. Nuveen Asset Management LLC now owns 1,484,772 shares of the technology company’s stock worth $143,563,000 after acquiring an additional 738,249 shares during the last quarter. Finally, FIL Ltd grew its holdings in NetEase by 73.2% in the 4th quarter. FIL Ltd now owns 1,572,418 shares of the technology company’s stock worth $146,486,000 after acquiring an additional 664,577 shares during the last quarter. Hedge funds and other institutional investors own 11.78% 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.