NetEase (NASDAQ:NTES) Hits New 1-Year High – Time to Buy?

NetEase, Inc. (NASDAQ:NTES)’s stock price reached a new 52-week high during trading on Tuesday . The stock traded as high as $130.70 and last traded at $130.19, with a volume of 891101 shares changing hands. The stock had previously closed at $127.02.

Wall Street Analysts Forecast Growth

Several research firms have commented on NTES. Deutsche Bank Aktiengesellschaft initiated coverage on NetEase in a research report on Monday, May 12th. They issued a “buy” rating and a $130.00 price objective on the stock. Morgan Stanley lifted their target price on NetEase from $108.00 to $117.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 12th. Wall Street Zen raised NetEase from a “buy” rating to a “strong-buy” rating in a research report on Thursday, May 22nd. JPMorgan Chase & Co. lifted their target price on NetEase from $120.00 to $135.00 and gave the stock an “overweight” rating in a research report on Monday, May 19th. Finally, Benchmark lifted their target price on NetEase from $105.00 to $115.00 and gave the stock a “buy” rating in a research report on Friday, February 21st. One investment 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 stock. According to MarketBeat.com, NetEase has a consensus rating of “Buy” and a consensus target price of $119.38.

NetEase Stock Up 1.2%

The firm has a market capitalization of $84.25 billion, a price-to-earnings ratio of 20.87, a P/E/G ratio of 3.37 and a beta of 0.67. The stock has a 50 day moving average of $110.75 and a 200 day moving average of $102.36.

NetEase Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 13th. Investors of record on Friday, May 30th will be paid a $0.675 dividend. The ex-dividend date of this dividend is Friday, May 30th. This represents a $2.70 dividend on an annualized basis and a yield of 2.03%. NetEase’s dividend payout ratio (DPR) is 38.71%.

Hedge Funds Weigh In On NetEase

A number of hedge funds have recently bought and sold shares of NTES. Mirae Asset Global Investments Co. Ltd. grew its stake in NetEase by 7,698.2% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,817,021 shares of the technology company’s stock worth $289,928,000 after purchasing an additional 2,780,897 shares in the last quarter. Invesco Ltd. boosted its stake in NetEase by 88.0% in the fourth quarter. Invesco Ltd. now owns 2,365,464 shares of the technology company’s stock valued at $211,023,000 after acquiring an additional 1,107,363 shares during the period. Capital World Investors raised its position in shares of NetEase by 40.6% during the 4th quarter. Capital World Investors now owns 3,725,046 shares of the technology company’s stock worth $332,311,000 after purchasing an additional 1,074,818 shares during the period. Wellington Management Group LLP lifted its holdings in shares of NetEase by 111.7% in the 1st quarter. Wellington Management Group LLP now owns 1,988,541 shares of the technology company’s stock worth $204,661,000 after purchasing an additional 1,049,023 shares during the last quarter. Finally, FIL Ltd boosted its position in NetEase by 160.2% during the 4th quarter. FIL Ltd now owns 1,668,359 shares of the technology company’s stock valued at $148,834,000 after purchasing an additional 1,027,102 shares during the period. 11.07% of the stock is currently owned by institutional investors and hedge funds.

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.