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

NetEase, Inc. (NASDAQ:NTES - Get Free Report) hit a new 52-week high during trading on Tuesday . The stock traded as high as $133.91 and last traded at $133.66, with a volume of 589206 shares trading hands. The stock had previously closed at $130.33.

Analysts Set New Price Targets

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

NetEase Stock Up 2.9%

The firm's 50-day moving average is $116.42 and its two-hundred day moving average is $104.88. The stock has a market cap of $84.93 billion, a P/E ratio of 19.29, a price-to-earnings-growth ratio of 4.48 and a beta of 0.67.

NetEase Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 13th. Stockholders of record on Friday, May 30th were issued a dividend of $0.675 per share. This represents a $2.70 dividend on an annualized basis and a dividend yield of 2.01%. The ex-dividend date was Friday, May 30th. NetEase's dividend payout ratio is 38.71%.

Institutional Investors Weigh In On NetEase

A number of large investors have recently added to or reduced their stakes in NTES. Pine Haven Investment Counsel Inc bought a new position in shares of NetEase in the first quarter worth about $206,000. GAMMA Investing LLC raised its stake in shares of NetEase by 10,192.0% in the first quarter. GAMMA Investing LLC now owns 2,573 shares of the technology company's stock valued at $265,000 after purchasing an additional 2,548 shares in the last quarter. Farther Finance Advisors LLC boosted its stake in NetEase by 191.7% during the first quarter. Farther Finance Advisors LLC now owns 986 shares of the technology company's stock worth $105,000 after buying an additional 648 shares in the last quarter. Moseley Investment Management Inc. bought a new stake in NetEase in the 1st quarter valued at $206,000. Finally, Public Employees Retirement System of Ohio increased its stake in NetEase by 3.1% in the fourth quarter. Public Employees Retirement System of Ohio now owns 128,316 shares of the technology company's stock valued at $11,447,000 after acquiring an additional 3,883 shares during the period. Institutional investors 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.