NetEase (NASDAQ:NTES) Shares Down 2.5%

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

Analysts Set New Price Targets

Several analysts recently weighed in on the company. StockNews.com raised NetEase from a “buy” rating to a “strong-buy” rating in a report on Tuesday, March 26th. Morgan Stanley lowered their target price on shares of NetEase from $135.00 to $120.00 and set an “overweight” rating for the company in a research note on Friday, April 12th. Six analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, NetEase currently has a consensus rating of “Buy” and an average target price of $126.00.

NetEase Stock Down 1.6 %

The firm’s 50 day simple moving average is $103.28 and its 200 day simple moving average is $103.21. The company has a market cap of $60.17 billion, a price-to-earnings ratio of 14.99, a price-to-earnings-growth ratio of 0.85 and a beta of 0.58.

NetEase (NASDAQ:NTES) last announced its quarterly 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). NetEase had a return on equity of 24.36% and a net margin of 28.39%. The business had revenue of $3.82 billion for the quarter, compared to analyst estimates of $3.96 billion. Analysts anticipate that NetEase, Inc. will post 7.04 EPS for the current fiscal year.

NetEase Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Thursday, March 14th were paid a $1.08 dividend. This is a positive change from NetEase’s previous quarterly dividend of $0.50. This represents a $4.32 dividend on an annualized basis and a dividend yield of 4.63%. The ex-dividend date of this dividend was Wednesday, March 13th. NetEase’s dividend payout ratio is currently 68.09%.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Assenagon Asset Management S.A. lifted its position in NetEase by 451.3% in the 4th quarter. Assenagon Asset Management S.A. now owns 511,454 shares of the technology company’s stock worth $47,647,000 after buying an additional 418,677 shares in the last quarter. WT Asset Management Ltd boosted its stake 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 worth $92,851,000 after acquiring an additional 789,499 shares in the last quarter. FDx Advisors Inc. grew its holdings in NetEase by 11.6% during the third quarter. FDx Advisors Inc. now owns 8,352 shares of the technology company’s stock valued at $837,000 after purchasing an additional 871 shares during the last quarter. Qube Research & Technologies Ltd bought a new position in shares of NetEase in the third quarter valued at approximately $12,017,000. Finally, China Universal Asset Management Co. Ltd. acquired a new stake in shares of NetEase in the third quarter worth $1,102,000. Institutional investors and hedge funds own 11.07% of the company’s stock.

NetEase Company Profile

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.