NetEase (NASDAQ:NTES) Sets New 52-Week High - Should You Buy?

Key Points

• NetEase (NASDAQ:NTES) achieved a new 52-week high of $155.47, closing at $154.75 with a trading volume of 64,463 shares.
• Wall Street analysts have a consensus rating of Moderate Buy for NetEase, with price targets varying from $120.00 to $140.00.
• The company announced a quarterly dividend of $0.675 per share, yielding approximately 1.7% on an annualized basis, with a payout ratio of 30.72%.

Shares of NetEase, Inc. (NASDAQ:NTES - Get Free Report) reached a new 52-week high on Monday . The company traded as high as $155.47 and last traded at $154.75, with a volume of 64463 shares. The stock had previously closed at $152.80.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. The Goldman Sachs Group set a $161.00 price objective on shares of NetEase and gave the stock a "buy" rating in a report on Monday. JPMorgan Chase & Co. lowered shares of NetEase from an "overweight" rating to a "neutral" rating and raised their price target for the company from $135.00 to $140.00 in a research note on Monday, July 28th. Zacks Research cut NetEase from a "strong-buy" rating to a "hold" rating in a research report on Friday, August 15th. Arete upgraded NetEase from a "sell" rating to a "buy" rating and set a $150.00 target price on the stock in a research report on Wednesday, September 3rd. Finally, Arete Research raised NetEase to a "strong-buy" rating in a report on Wednesday, September 3rd. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and three have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $132.00.

NetEase Trading Down 0.0%

The firm's fifty day moving average price is $136.19 and its 200 day moving average price is $121.13. The firm has a market capitalization of $96.87 billion, a PE ratio of 20.70, a PEG ratio of 2.13 and a beta of 0.67.

NetEase Dividend Announcement

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

Institutional Investors Weigh In On NetEase

Several institutional investors have recently made changes to their positions in NTES. NewSquare Capital LLC lifted its stake in NetEase by 137.2% in the second quarter. NewSquare Capital LLC now owns 185 shares of the technology company's stock valued at $25,000 after acquiring an additional 107 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC acquired a new stake in shares of NetEase in the 1st quarter valued at $26,000. Private Trust Co. NA lifted its stake in shares of NetEase by 266.0% in the 2nd quarter. Private Trust Co. NA now owns 194 shares of the technology company's stock valued at $26,000 after purchasing an additional 141 shares during the last quarter. USA Financial Formulas acquired a new stake in shares of NetEase in the 2nd quarter valued at $30,000. Finally, Mather Group LLC. lifted its position in shares of NetEase by 1,415.0% in 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 last quarter. 11.07% of the stock is currently owned by institutional investors and hedge funds.

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.