HSBC Trims NetEase (NASDAQ:NTES) Target Price to $126.00

NetEase (NASDAQ:NTES) had its target price cut by HSBC from $130.00 to $126.00 in a research note issued to investors on Wednesday morning, Benzinga reports. They currently have a buy rating on the technology company’s stock.

A number of other analysts have also weighed in on the stock. StockNews.com raised shares of NetEase from a buy rating to a strong-buy rating in a research note on Tuesday, March 26th. Morgan Stanley lowered their price objective 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. Seven investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of Buy and a consensus price target of $126.00.

NetEase Trading Up 2.0 %

Shares of NTES opened at $95.99 on Wednesday. The firm has a market capitalization of $61.89 billion, a P/E ratio of 15.16, a P/E/G ratio of 0.86 and a beta of 0.58. NetEase has a 12-month low of $80.79 and a 12-month high of $118.89. The firm has a fifty day moving average price of $102.27 and a 200-day moving average price of $102.97.

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). NetEase had a net margin of 28.39% and a return on equity of 24.36%. The company had revenue of $3.82 billion for the quarter, compared to analysts’ expectations of $3.96 billion. Analysts predict that NetEase will post 7.04 earnings per share for the current year.

NetEase Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Thursday, March 14th were given a dividend of $1.08 per share. This represents a $4.32 annualized dividend and a dividend yield of 4.50%. This is a positive change from NetEase’s previous quarterly dividend of $0.50. The ex-dividend date of this dividend was Wednesday, March 13th. NetEase’s dividend payout ratio is presently 68.09%.

Institutional Trading of NetEase

Several hedge funds have recently modified their holdings of NTES. Private Trust Co. NA lifted its position in shares of NetEase by 418.9% during the fourth quarter. Private Trust Co. NA now owns 275 shares of the technology company’s stock valued at $26,000 after buying an additional 222 shares during the last quarter. Chilton Capital Management LLC acquired a new position in shares of NetEase during the fourth quarter valued at about $37,000. USA Financial Formulas increased its holdings in shares of NetEase by 1,153.1% during the fourth quarter. USA Financial Formulas now owns 401 shares of the technology company’s stock valued at $37,000 after acquiring an additional 369 shares in the last quarter. UMB Bank n.a. acquired a new position in shares of NetEase during the first quarter valued at about $50,000. Finally, Headlands Technologies LLC acquired a new position in shares of NetEase during the third quarter valued at about $56,000. 11.07% of the stock is owned by hedge funds and other institutional investors.

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.