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

Key Points

• NetEase stock reached a new 52-week high, trading at $142.61 after peaking at $142.98, reflecting significant investor interest with a volume of 41,990 shares exchanged.
• Several analysts have upgraded NetEase's rating, with Wall Street Zen and Arete Research both recommending it as a strong-buy, while the stock has a consensus rating of "Moderate Buy" and a price target of $128.78.
• NetEase recently announced a quarterly dividend of $0.675 per share, yielding 1.9%, indicating the company's commitment to returning value to shareholders.

NetEase, Inc. (NASDAQ:NTES - Get Free Report)'s share price reached a new 52-week high during mid-day trading on Monday . The company traded as high as $142.98 and last traded at $142.61, with a volume of 41990 shares trading hands. The stock had previously closed at $134.27.

Analyst Ratings Changes

NTES has been the topic of a number of recent research reports. JPMorgan Chase & Co. downgraded shares of NetEase from an "overweight" rating to a "neutral" rating and upped their price target for the company from $135.00 to $140.00 in a research note on Monday, July 28th. Zacks Research downgraded shares of NetEase from a "strong-buy" rating to a "hold" rating in a research note on Friday, August 15th. Barclays set a $120.00 price target on shares of NetEase and gave the company an "equal weight" rating in a research note on Monday, August 18th. Arete raised shares of NetEase from a "sell" rating to a "buy" rating and set a $150.00 target price on the stock in a research note on Wednesday, September 3rd. Finally, Wall Street Zen raised shares of NetEase from a "buy" rating to a "strong-buy" rating in a research note on Saturday, August 30th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $128.78.

NetEase Stock Up 1.8%

The company's 50 day moving average price is $134.19 and its two-hundred day moving average price is $119.57. The firm has a market cap of $96.81 billion, a PE ratio of 20.68, a P/E/G ratio of 2.00 and a beta of 0.67.

NetEase Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, September 11th. Stockholders of record on Thursday, August 28th were issued a $0.675 dividend. The ex-dividend date was Thursday, August 28th. This represents a $2.70 dividend on an annualized basis and a dividend yield of 1.8%. NetEase's dividend payout ratio is presently 30.72%.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Sumitomo Mitsui Trust Group Inc. grew its holdings in shares of NetEase by 20.8% in the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 8,685 shares of the technology company's stock worth $894,000 after purchasing an additional 1,495 shares during the last quarter. Sequoia Financial Advisors LLC bought a new position in NetEase during the 1st quarter worth about $398,000. Concurrent Investment Advisors LLC grew its holdings in NetEase by 5.4% during the 1st quarter. Concurrent Investment Advisors LLC now owns 2,569 shares of the technology company's stock worth $264,000 after acquiring an additional 132 shares in the last quarter. GAMMA Investing LLC grew its holdings in NetEase by 10,192.0% during the 1st quarter. GAMMA Investing LLC now owns 2,573 shares of the technology company's stock worth $265,000 after acquiring an additional 2,548 shares in the last quarter. Finally, Pine Haven Investment Counsel Inc bought a new position in NetEase during the 1st quarter worth about $206,000. 11.07% of the stock is currently owned by 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.