Morgan Stanley Lowers NetEase (NASDAQ:NTES) Price Target to $120.00

NetEase (NASDAQ:NTES) had its price target lowered by Morgan Stanley from $135.00 to $120.00 in a report published on Friday morning, Marketbeat reports. Morgan Stanley currently has an overweight rating on the technology company’s stock.

Separately, StockNews.com raised NetEase from a buy rating to a strong-buy rating in a research report on Tuesday, March 26th. Six analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of Buy and an average price target of $126.00.

NetEase Trading Up 0.0 %

NTES opened at $92.17 on Friday. NetEase has a 1-year low of $80.79 and a 1-year high of $118.89. The stock has a market capitalization of $59.42 billion, a price-to-earnings ratio of 14.56, a P/E/G ratio of 0.84 and a beta of 0.58. The business has a 50 day moving average of $104.72 and a 200-day moving average of $103.46.

NetEase (NASDAQ:NTES) last posted its quarterly earnings data on Thursday, February 29th. The technology company reported $1.42 earnings per share for the quarter, missing the consensus estimate of $1.62 by ($0.20). NetEase had a net margin of 28.39% and a return on equity of 24.36%. The business had revenue of $3.82 billion during the quarter, compared to the consensus estimate of $3.96 billion. Equities analysts predict that NetEase will post 7.04 EPS for the current year.

NetEase Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Thursday, March 14th were given a $1.08 dividend. This is a boost from NetEase’s previous quarterly dividend of $0.50. This represents a $4.32 annualized dividend and a yield of 4.69%. The ex-dividend date of this dividend was Wednesday, March 13th. NetEase’s dividend payout ratio (DPR) is 68.09%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Tairen Capital Ltd bought a new position in shares of NetEase during the fourth quarter valued at $164,307,000. Wellington Management Group LLP lifted its holdings in shares of NetEase by 226.4% during the fourth quarter. Wellington Management Group LLP now owns 1,896,495 shares of the technology company’s stock valued at $176,677,000 after acquiring an additional 1,315,410 shares during the period. WT Asset Management Ltd lifted its holdings in shares of NetEase by 381.1% during the fourth quarter. WT Asset Management Ltd now owns 996,686 shares of the technology company’s stock valued at $92,851,000 after acquiring an additional 789,499 shares during the period. Nuveen Asset Management LLC lifted its holdings in shares of NetEase by 98.9% during the second quarter. Nuveen Asset Management LLC now owns 1,484,772 shares of the technology company’s stock valued at $143,563,000 after acquiring an additional 738,249 shares during the period. Finally, FIL Ltd lifted its holdings in shares of NetEase by 73.2% during the fourth quarter. FIL Ltd now owns 1,572,418 shares of the technology company’s stock valued at $146,486,000 after acquiring an additional 664,577 shares during the period. 11.07% of the stock is owned by institutional investors.

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.