NetEase (NASDAQ:NTES) Sets New 52-Week High - Here's Why

Shares of NetEase, Inc. (NASDAQ:NTES - Get Free Report) hit a new 52-week high during mid-day trading on Thursday . The company traded as high as $141.45 and last traded at $140.56, with a volume of 482694 shares. The stock had previously closed at $139.49.

Analysts Set New Price Targets

Several analysts have weighed in on NTES shares. Deutsche Bank Aktiengesellschaft initiated coverage on shares of NetEase in a research report on Monday, May 12th. They set a "buy" rating and a $130.00 target price on the stock. Barclays increased their price target on NetEase from $104.00 to $118.00 and gave the stock an "equal weight" rating in a research report on Friday, May 16th. Wall Street Zen raised shares of NetEase from a "buy" rating to a "strong-buy" rating in a research note on Thursday, May 22nd. Finally, JPMorgan Chase & Co. increased their price objective on NetEase from $120.00 to $135.00 and gave the stock an "overweight" rating in a research report on Monday, May 19th. One equities research analyst has rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of "Buy" and a consensus price target of $119.38.

NetEase Stock Performance

The company has a market capitalization of $85.97 billion, a PE ratio of 19.52, a P/E/G ratio of 4.86 and a beta of 0.69. The company's 50-day simple moving average is $129.17 and its 200-day simple moving average is $110.92.

NetEase Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 13th. Shareholders of record on Friday, May 30th were given a dividend of $0.675 per share. The ex-dividend date was Friday, May 30th. This represents a $2.70 dividend on an annualized basis and a yield of 1.99%. NetEase's payout ratio is currently 38.71%.

Institutional Trading of NetEase

Several institutional investors have recently made changes to their positions in the stock. Venturi Wealth Management LLC lifted its stake in NetEase by 3.5% during the second quarter. Venturi Wealth Management LLC now owns 2,527 shares of the technology company's stock valued at $340,000 after purchasing an additional 86 shares during the last quarter. Checchi Capital Advisers LLC raised its position in NetEase by 4.6% during the second quarter. Checchi Capital Advisers LLC now owns 2,347 shares of the technology company's stock valued at $316,000 after acquiring an additional 103 shares in the last quarter. Brighton Jones LLC increased its position in 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 buying an additional 117 shares during the last quarter. Concurrent Investment Advisors LLC raised its stake in shares of NetEase by 5.4% in the 1st quarter. Concurrent Investment Advisors LLC now owns 2,569 shares of the technology company's stock valued at $264,000 after acquiring an additional 132 shares in the last quarter. Finally, Fifth Third Bancorp lifted its stake in shares of NetEase by 2.7% in the first quarter. Fifth Third Bancorp now owns 5,264 shares of the technology company's stock worth $542,000 after buying an additional 138 shares during the last quarter. 11.07% of the stock is owned by hedge funds and other institutional investors.

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.

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