NetEase (NASDAQ:NTES) Hits New 12-Month High - Here's What Happened

NetEase, Inc. (NASDAQ:NTES - Get Free Report) reached a new 52-week high during trading on Friday . The company traded as high as $136.88 and last traded at $136.04, with a volume of 149824 shares changing hands. The stock had previously closed at $133.19.

Analyst Ratings Changes

NTES has been the subject of several analyst reports. JPMorgan Chase & Co. increased their price target on shares of NetEase from $120.00 to $135.00 and gave the company an "overweight" rating in a research report on Monday, May 19th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of NetEase in a research report on Monday, May 12th. They set a "buy" rating and a $130.00 price target for the company. Barclays increased their price target on shares of NetEase from $104.00 to $118.00 and gave the company an "equal weight" rating in a research report on Friday, May 16th. Finally, Wall Street Zen raised shares of NetEase from a "buy" rating to a "strong-buy" rating in a research report on Thursday, May 22nd. One equities research 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 company. According to data from MarketBeat.com, the company presently has an average rating of "Buy" and an average price target of $119.38.

NetEase Stock Performance

The company's fifty day moving average is $127.23 and its two-hundred day moving average is $110.17. The company has a market cap of $88.43 billion, a price-to-earnings ratio of 20.10, a P/E/G ratio of 4.74 and a beta of 0.69.

NetEase Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 13th. Investors of record on Friday, May 30th were issued a $0.675 dividend. The ex-dividend date of this dividend was Friday, May 30th. This represents a $2.70 annualized dividend and a yield of 1.93%. NetEase's dividend payout ratio (DPR) is presently 38.71%.

Institutional Investors Weigh In On NetEase

A number of hedge funds and other institutional investors have recently made changes to their positions in NTES. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of NetEase by 7,698.2% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,817,021 shares of the technology company's stock worth $289,928,000 after purchasing an additional 2,780,897 shares during the period. Invesco Ltd. grew its stake in shares of NetEase by 88.0% during the 4th quarter. Invesco Ltd. now owns 2,365,464 shares of the technology company's stock worth $211,023,000 after purchasing an additional 1,107,363 shares during the period. Capital World Investors grew its stake in shares of NetEase by 40.6% during the 4th quarter. Capital World Investors now owns 3,725,046 shares of the technology company's stock worth $332,311,000 after purchasing an additional 1,074,818 shares during the period. Wellington Management Group LLP grew its stake in shares of NetEase by 111.7% during the 1st quarter. Wellington Management Group LLP now owns 1,988,541 shares of the technology company's stock worth $204,661,000 after purchasing an additional 1,049,023 shares during the period. Finally, FIL Ltd grew its stake in shares of NetEase by 160.2% during the 4th quarter. FIL Ltd now owns 1,668,359 shares of the technology company's stock worth $148,834,000 after purchasing an additional 1,027,102 shares during the period. 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.