NetEase (NASDAQ:NTES) Sets New 1-Year High - Still a Buy?

Shares of 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 traded. The stock had previously closed at $133.19.

Wall Street Analysts Forecast Growth

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

NetEase Price Performance

The business has a fifty day moving average of $127.23 and a 200 day moving average of $110.01. The stock has a market capitalization of $86.24 billion, a price-to-earnings ratio of 19.59, a PEG ratio of 4.74 and a beta of 0.69.

NetEase Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 13th. Stockholders of record on Friday, May 30th were given 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 1.98%. NetEase's payout ratio is 38.71%.

Institutional Trading of NetEase

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Kayne Anderson Rudnick Investment Management LLC bought a new stake in shares of NetEase during the 1st quarter valued at about $26,000. Farther Finance Advisors LLC lifted its position in shares of NetEase by 81.7% in the 4th quarter. Farther Finance Advisors LLC now owns 338 shares of the technology company's stock valued at $30,000 after acquiring an additional 152 shares in the last quarter. USA Financial Formulas purchased a new stake in shares of NetEase in the 2nd quarter valued at approximately $30,000. Mather Group LLC. increased its stake in NetEase by 1,415.0% in the 1st 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 period. Finally, Reyes Financial Architecture Inc. increased its stake in NetEase by 1,189.5% in the 2nd quarter. Reyes Financial Architecture Inc. now owns 245 shares of the technology company's stock valued at $33,000 after buying an additional 226 shares during the period. 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.