NetEase (NASDAQ:NTES) Sets New 1-Year High - Here's What Happened

NetEase, Inc. (NASDAQ:NTES - Get Free Report) shares hit a new 52-week high during trading on Tuesday . The stock traded as high as $123.72 and last traded at $123.22, with a volume of 377542 shares traded. The stock had previously closed at $119.75.

Analyst Ratings Changes

NTES has been the topic of a number of recent analyst reports. Barclays lifted their price objective on shares of NetEase from $104.00 to $118.00 and gave the company an "equal weight" rating in a research note on Friday, May 16th. JPMorgan Chase & Co. lifted their price objective on shares of NetEase from $120.00 to $135.00 and gave the company an "overweight" rating in a research note on Monday, May 19th. Benchmark lifted their price objective on shares of NetEase from $105.00 to $115.00 and gave the company a "buy" rating in a research note on Friday, February 21st. Morgan Stanley lifted their price objective on shares of NetEase from $108.00 to $117.00 and gave the company an "overweight" rating in a research note on Wednesday, February 12th. Finally, Wall Street Zen raised shares of NetEase from a "buy" rating to a "strong-buy" rating in a research note on Thursday, May 22nd. One analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Buy" and a consensus target price of $119.38.

NetEase Stock Up 0.3%

The business's 50 day simple moving average is $106.24 and its two-hundred day simple moving average is $99.69. The stock has a market cap of $78.74 billion, a P/E ratio of 19.51, a PEG ratio of 3.37 and a beta of 0.66.

NetEase Announces Dividend

The business also recently announced a dividend, which will be paid on Friday, June 13th. Shareholders of record on Friday, May 30th will be paid a dividend of $0.675 per share. The ex-dividend date of this dividend is Friday, May 30th. NetEase's payout ratio is presently 38.71%.

Hedge Funds Weigh In On NetEase

A number of hedge funds have recently modified their holdings of NTES. SG Americas Securities LLC acquired a new position in shares of NetEase during the fourth quarter worth $654,000. Avior Wealth Management LLC lifted its holdings in shares of NetEase by 148.9% during the fourth quarter. Avior Wealth Management LLC now owns 993 shares of the technology company's stock worth $89,000 after purchasing an additional 594 shares during the period. Brighton Jones LLC lifted its holdings in shares of NetEase by 1.1% during the fourth quarter. Brighton Jones LLC now owns 10,297 shares of the technology company's stock worth $919,000 after purchasing an additional 117 shares during the period. Blue Trust Inc. lifted its holdings in shares of NetEase by 11.8% during the fourth quarter. Blue Trust Inc. now owns 5,042 shares of the technology company's stock worth $471,000 after purchasing an additional 533 shares during the period. Finally, Caprock Group LLC acquired a new position in shares of NetEase during the fourth quarter worth $239,000. Institutional investors and hedge funds own 11.07% of the company's stock.

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.