NetEase, Inc. (NASDAQ:NTES - Get Free Report)'s stock price reached a new 52-week high during trading on Wednesday . The stock traded as high as $127.35 and last traded at $127.10, with a volume of 129065 shares traded. The stock had previously closed at $126.06.
Wall Street Analysts Forecast Growth
Several research firms have commented on NTES. Wall Street Zen upgraded shares of NetEase from a "buy" rating to a "strong-buy" rating in a research note on Thursday, May 22nd. Benchmark boosted their target price on shares of NetEase from $105.00 to $115.00 and gave the stock a "buy" rating in a research note on Friday, February 21st. Morgan Stanley boosted their target price on shares of NetEase from $108.00 to $117.00 and gave the stock an "overweight" rating in a research note on Wednesday, February 12th. Deutsche Bank Aktiengesellschaft began coverage on shares of NetEase in a research note on Monday, May 12th. They set a "buy" rating and a $130.00 target price for the company. Finally, JPMorgan Chase & Co. boosted their target price 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. One analyst has rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Buy" and a consensus price target of $119.38.
View Our Latest Report on NetEase
NetEase Stock Up 1.1%
The stock has a market capitalization of $81.50 billion, a PE ratio of 20.19, a PEG ratio of 3.37 and a beta of 0.66. The business's 50-day moving average is $108.14 and its two-hundred day moving average is $100.89.
NetEase Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Friday, June 13th. Stockholders of record on Friday, May 30th will be issued a $0.675 dividend. The ex-dividend date is Friday, May 30th. This represents a $2.70 dividend on an annualized basis and a dividend yield of 2.10%. NetEase's payout ratio is 38.71%.
Institutional Investors Weigh In On NetEase
Institutional investors and hedge funds have recently made changes to their positions in the business. Kayne Anderson Rudnick Investment Management LLC purchased a new position in NetEase during the first quarter worth about $26,000. Farther Finance Advisors LLC grew its position in NetEase by 81.7% during the fourth quarter. Farther Finance Advisors LLC now owns 338 shares of the technology company's stock worth $30,000 after buying an additional 152 shares during the period. Mather Group LLC. grew its position in NetEase by 1,415.0% during the first quarter. Mather Group LLC. now owns 303 shares of the technology company's stock worth $31,000 after buying an additional 283 shares during the period. Live Oak Investment Partners acquired a new position in NetEase during the fourth quarter worth about $62,000. Finally, Strs Ohio acquired a new position in NetEase during the first quarter worth about $63,000. 11.07% of the stock is owned by hedge funds and other institutional investors.
NetEase Company Profile
(
Get Free Report)
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.
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