NetEase, Inc. (NASDAQ:NTES - Get Free Report) reached a new 52-week high on Monday . The stock traded as high as $142.98 and last traded at $142.61, with a volume of 41990 shares changing hands. The stock had previously closed at $134.27.
Analyst Upgrades and Downgrades
Several analysts have issued reports on NTES shares. Wall Street Zen raised NetEase from a "buy" rating to a "strong-buy" rating in a report on Saturday, August 30th. Arete upgraded NetEase from a "sell" rating to a "buy" rating and set a $150.00 price objective for the company in a research note on Wednesday, September 3rd. JPMorgan Chase & Co. lowered shares of NetEase from an "overweight" rating to a "neutral" rating and increased their target price for the stock from $135.00 to $140.00 in a report on Monday, July 28th. Zacks Research cut shares of NetEase from a "strong-buy" rating to a "hold" rating in a research note on Friday, August 15th. Finally, Barclays set a $120.00 price target on shares of NetEase and gave the company an "equal weight" rating in a report on Monday, August 18th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, NetEase presently has a consensus rating of "Moderate Buy" and a consensus price target of $128.78.
Read Our Latest Stock Report on NTES
NetEase Price Performance
The firm has a 50-day moving average of $133.48 and a 200-day moving average of $118.85. The stock has a market cap of $95.10 billion, a PE ratio of 20.31, a PEG ratio of 1.95 and a beta of 0.67.
NetEase Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 11th. Shareholders of record on Thursday, August 28th will be issued a dividend of $0.675 per share. This represents a $2.70 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date of this dividend is Thursday, August 28th. NetEase's dividend payout ratio (DPR) is 30.72%.
Hedge Funds Weigh In On NetEase
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Mirae Asset Global Investments Co. Ltd. grew its stake in NetEase by 7,698.2% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,817,021 shares of the technology company's stock valued at $289,928,000 after acquiring an additional 2,780,897 shares in the last quarter. Wellington Management Group LLP lifted its stake in NetEase by 111.7% in 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 in the last quarter. Price T Rowe Associates Inc. MD lifted its stake in NetEase by 54.4% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,977,835 shares of the technology company's stock worth $203,560,000 after purchasing an additional 697,192 shares in the last quarter. Man Group plc lifted its stake in NetEase by 98.0% in the 4th quarter. Man Group plc now owns 708,268 shares of the technology company's stock worth $63,185,000 after purchasing an additional 350,578 shares in the last quarter. Finally, New York State Common Retirement Fund purchased a new stake in NetEase in the 1st quarter worth $28,765,000. Institutional investors own 11.07% of the company's stock.
About NetEase
(
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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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