NetEase (NASDAQ:NTES) Sets New 1-Year High - Here's What Happened

NetEase, Inc. (NASDAQ:NTES - Get Free Report) shares 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. The stock had previously closed at $126.06.

Analysts Set New Price Targets

NTES has been the subject of a number of research analyst reports. Deutsche Bank Aktiengesellschaft assumed coverage on NetEase in a research report on Monday, May 12th. They set a "buy" rating and a $130.00 target price for the company. Morgan Stanley upped their price objective 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. Wall Street Zen raised shares of NetEase from a "buy" rating to a "strong-buy" rating in a research report on Thursday, May 22nd. Benchmark upped their price target on shares of NetEase from $105.00 to $115.00 and gave the stock a "buy" rating in a research report on Friday, February 21st. Finally, Barclays increased their price objective 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. One analyst has rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus target price of $119.38.

NetEase Stock Down 1.3%

The firm has a market capitalization of $80.48 billion, a PE ratio of 19.94, a price-to-earnings-growth ratio of 3.37 and a beta of 0.67. The company's 50-day simple moving average is $109.07 and its 200 day simple moving average is $101.45.

NetEase Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 13th. Investors of record on Friday, May 30th will be given a dividend of $0.675 per share. This represents a $2.70 annualized dividend and a yield of 2.13%. The ex-dividend date is Friday, May 30th. NetEase's dividend payout ratio is currently 38.71%.

Institutional Investors Weigh In On NetEase

A number of large investors have recently modified their holdings of NTES. Sumitomo Mitsui Trust Group Inc. raised its position in shares of NetEase by 1.6% in the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 7,190 shares of the technology company's stock valued at $641,000 after purchasing an additional 114 shares during the last quarter. Brighton Jones LLC raised its holdings in shares of NetEase by 1.1% in the fourth quarter. Brighton Jones LLC now owns 10,297 shares of the technology company's stock worth $919,000 after buying an additional 117 shares during the last quarter. Concurrent Investment Advisors LLC raised its holdings in shares of NetEase by 5.4% in the first quarter. Concurrent Investment Advisors LLC now owns 2,569 shares of the technology company's stock worth $264,000 after buying an additional 132 shares during the last quarter. Fifth Third Bancorp lifted its stake in shares of NetEase by 2.7% during the first quarter. Fifth Third Bancorp now owns 5,264 shares of the technology company's stock worth $542,000 after buying an additional 138 shares during the period. Finally, Hardy Reed LLC grew its holdings in shares of NetEase by 1.7% during the first quarter. Hardy Reed LLC now owns 8,394 shares of the technology company's stock valued at $864,000 after buying an additional 139 shares during the last quarter. Hedge funds and other institutional investors 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.