NetEase (NASDAQ:NTES) Sets New 1-Year High - Still a 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%.

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 changing hands. The stock had previously closed at $152.80.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on NTES. Wall Street Zen upgraded NetEase from a "buy" rating to a "strong-buy" rating in a report on Saturday, August 30th. Zacks Research downgraded NetEase from a "strong-buy" rating to a "hold" rating in a report on Friday, August 15th. Arete Research upgraded NetEase to a "strong-buy" rating in a report on Wednesday, September 3rd. JPMorgan Chase & Co. downgraded NetEase from an "overweight" rating to a "neutral" rating and increased their price objective for the company from $135.00 to $140.00 in a report on Monday, July 28th. Finally, Barclays set a $120.00 price objective on NetEase and gave the company an "equal weight" rating in a report on Monday, August 18th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and three have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $128.78.

NetEase Trading Up 1.5%

The company has a market cap of $98.23 billion, a P/E ratio of 20.99, a PEG ratio of 2.04 and a beta of 0.67. The stock's 50-day moving average price is $134.19 and its 200-day moving average price is $119.83.

NetEase Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 11th. Stockholders of record on Thursday, August 28th were given a dividend of $0.675 per share. This represents a $2.70 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date of this dividend was Thursday, August 28th. NetEase's dividend payout ratio is 30.72%.

Hedge Funds Weigh In On NetEase

Several large investors have recently added to or reduced their stakes in NTES. Ninety One UK Ltd increased its stake in NetEase by 2.2% in the 2nd quarter. Ninety One UK Ltd now owns 6,267,769 shares of the technology company's stock valued at $843,516,000 after buying an additional 134,967 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its stake in NetEase by 7,698.2% in the 1st 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 buying an additional 2,780,897 shares during the last quarter. Dodge & Cox increased its stake in NetEase by 5.8% in the 1st quarter. Dodge & Cox now owns 2,803,664 shares of the technology company's stock valued at $288,553,000 after buying an additional 153,788 shares during the last quarter. Hhlr Advisors LTD. increased its stake in NetEase by 3.1% in the 1st quarter. Hhlr Advisors LTD. now owns 2,668,697 shares of the technology company's stock valued at $274,662,000 after buying an additional 79,754 shares during the last quarter. Finally, Wellington Management Group LLP increased 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 valued at $204,661,000 after buying an additional 1,049,023 shares during the last quarter. Institutional investors own 11.07% of the company's stock.

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.

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