NetEase (NASDAQ:NTES) Hits New 52-Week High - Here's Why

NetEase, Inc. (NASDAQ:NTES - Get Free Report) hit a new 52-week high during trading on Monday . The stock traded as high as $134.77 and last traded at $134.58, with a volume of 128133 shares. The stock had previously closed at $132.65.

Wall Street Analyst Weigh In

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

NetEase Trading Up 0.5%

The company has a market cap of $84.68 billion, a PE ratio of 19.23, a P/E/G ratio of 4.63 and a beta of 0.69. The company has a fifty day simple moving average of $121.72 and a two-hundred day simple moving average of $106.81.

NetEase Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 13th. Investors of record on Friday, May 30th were paid a dividend of $0.675 per share. The ex-dividend date of this dividend was Friday, May 30th. This represents a $2.70 dividend on an annualized basis and a dividend yield of 2.02%. NetEase's payout ratio is 38.71%.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in NTES. Kayne Anderson Rudnick Investment Management LLC purchased a new stake in shares of NetEase in the 1st quarter valued at approximately $26,000. Farther Finance Advisors LLC increased its holdings in NetEase by 81.7% in the fourth quarter. Farther Finance Advisors LLC now owns 338 shares of the technology company's stock valued at $30,000 after buying an additional 152 shares during the last quarter. Mather Group LLC. increased its holdings in NetEase by 1,415.0% in the first quarter. Mather Group LLC. now owns 303 shares of the technology company's stock valued at $31,000 after buying an additional 283 shares during the last quarter. Live Oak Investment Partners acquired a new stake in NetEase in the fourth quarter valued at $62,000. Finally, Strs Ohio purchased a new stake in NetEase during the 1st quarter worth about $63,000. Hedge funds and other institutional investors own 11.07% 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.