NetEase, Inc. Announces Dividend of $0.68 (NASDAQ:NTES)

NetEase, Inc. (NASDAQ:NTES) declared a dividend on Thursday, May 15th, NASDAQ Dividends reports. Shareholders of record on Friday, May 30th will be paid a dividend of 0.675 per share by the technology company on Friday, June 13th. The ex-dividend date of this dividend is Friday, May 30th.

NetEase has increased its dividend payment by an average of 43.6% per year over the last three years. NetEase has a payout ratio of 55.7% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect NetEase to earn $7.32 per share next year, which means the company should continue to be able to cover its $4.88 annual dividend with an expected future payout ratio of 66.7%.

NetEase Trading Up 0.6%

NASDAQ:NTES traded up $0.69 during midday trading on Wednesday, hitting $124.98. 247,021 shares of the stock were exchanged, compared to its average volume of 1,455,455. The company has a market capitalization of $79.18 billion, a price-to-earnings ratio of 19.62, a P/E/G ratio of 3.37 and a beta of 0.66. NetEase has a one year low of $75.85 and a one year high of $126.00. The business has a 50-day moving average price of $105.22 and a two-hundred day moving average price of $99.20.

Institutional Trading of NetEase

A hedge fund recently raised its stake in NetEase stock. Brighton Jones LLC lifted its holdings in shares of NetEase, Inc. (NASDAQ:NTES) by 1.1% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 10,297 shares of the technology company’s stock after purchasing an additional 117 shares during the period. Brighton Jones LLC’s holdings in NetEase were worth $919,000 as of its most recent filing with the SEC. Institutional investors own 11.07% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on NTES shares. Morgan Stanley lifted their target price on shares of NetEase from $108.00 to $117.00 and gave the company an “overweight” rating in a research note on Wednesday, February 12th. Barclays raised their price objective on shares of NetEase from $104.00 to $118.00 and gave the stock an “equal weight” rating in a report on Friday, May 16th. JPMorgan Chase & Co. lifted their target price on shares of NetEase from $120.00 to $135.00 and gave the stock an “overweight” rating in a report on Monday, May 19th. Wall Street Zen raised shares of NetEase from a “buy” rating to a “strong-buy” rating in a research report on Thursday, May 22nd. Finally, Deutsche Bank Aktiengesellschaft started coverage on shares of NetEase in a research report on Monday, May 12th. They set a “buy” rating and a $130.00 price target on the stock. One analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $119.38.

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.