NetEase (NASDAQ:NTES) Sets New 1-Year High - What's Next?

NetEase, Inc. (NASDAQ:NTES - Get Free Report)'s stock price hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $130.70 and last traded at $130.19, with a volume of 891101 shares changing hands. The stock had previously closed at $127.02.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the company. Wall Street Zen raised NetEase from a "buy" rating to a "strong-buy" rating in a research note on Thursday, May 22nd. JPMorgan Chase & Co. lifted their price target on shares of NetEase from $120.00 to $135.00 and gave the stock an "overweight" rating in a report on Monday, May 19th. Morgan Stanley boosted their price objective on shares of NetEase from $108.00 to $117.00 and gave the company an "overweight" rating in a research report on Wednesday, February 12th. Deutsche Bank Aktiengesellschaft began coverage on shares of NetEase in a research report on Monday, May 12th. They set a "buy" rating and a $130.00 target price on the stock. Finally, Barclays raised their price objective on NetEase from $104.00 to $118.00 and gave the stock an "equal weight" rating in a report on Friday, May 16th. 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 company. According to MarketBeat, the company presently has a consensus rating of "Buy" and an average target price of $119.38.

NetEase Trading Up 0.9%

The company has a market capitalization of $83.22 billion, a PE ratio of 20.62, a PEG ratio of 3.37 and a beta of 0.67. The company's 50 day moving average price is $109.54 and its 200-day moving average price is $101.94.

NetEase Announces Dividend

The company 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 dividend of $0.675 per share. This represents a $2.70 dividend on an annualized basis and a dividend yield of 2.06%. The ex-dividend date of this dividend is Friday, May 30th. NetEase's payout ratio is currently 38.71%.

Institutional Trading of NetEase

A number of institutional investors have recently added to or reduced their stakes in NTES. Strs Ohio acquired a new position in shares of NetEase during the first quarter worth about $63,000. Acadian Asset Management LLC lifted its position in NetEase by 157.1% during the 1st quarter. Acadian Asset Management LLC now owns 24,292 shares of the technology company's stock worth $2,499,000 after acquiring an additional 14,842 shares in the last quarter. Bayforest Capital Ltd boosted its holdings in NetEase by 94.7% in the 1st quarter. Bayforest Capital Ltd now owns 5,387 shares of the technology company's stock worth $554,000 after acquiring an additional 2,620 shares during the period. Everstar Asset Management LLC boosted its holdings in NetEase by 135.3% in the 1st quarter. Everstar Asset Management LLC now owns 12,841 shares of the technology company's stock worth $1,322,000 after acquiring an additional 7,383 shares during the period. Finally, Temasek Holdings Private Ltd grew its position in NetEase by 26.7% in the first quarter. Temasek Holdings Private Ltd now owns 594,507 shares of the technology company's stock valued at $61,187,000 after acquiring an additional 125,369 shares in the last quarter. 11.07% of the stock is owned by hedge funds and other institutional investors.

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.