NetEase (NASDAQ:NTES) Reaches New 52-Week High – What’s Next?

NetEase, Inc. (NASDAQ:NTES) reached a new 52-week high during trading on Monday . The company traded as high as $142.98 and last traded at $142.61, with a volume of 41990 shares changing hands. The stock had previously closed at $134.27.

Analyst Upgrades and Downgrades

NTES has been the topic of a number of recent research reports. Zacks Research downgraded NetEase from a “strong-buy” rating to a “hold” rating in a research report on Friday, August 15th. Barclays set a $120.00 price objective on NetEase and gave the company an “equal weight” rating in a research report on Monday, August 18th. Arete raised NetEase from a “sell” rating to a “buy” rating and set a $150.00 price objective on the stock in a research report on Wednesday, September 3rd. JPMorgan Chase & Co. downgraded NetEase from an “overweight” rating to a “neutral” rating and raised their price objective for the company from $135.00 to $140.00 in a research report on Monday, July 28th. Finally, Wall Street Zen raised NetEase from a “buy” rating to a “strong-buy” rating in a research report on Saturday, August 30th. One research 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 stock currently has an average rating of “Moderate Buy” and an average target price of $128.78.

NetEase Price Performance

The firm has a market cap of $91.17 billion, a price-to-earnings ratio of 19.47, a P/E/G ratio of 1.92 and a beta of 0.67. The firm has a fifty day simple moving average of $133.22 and a two-hundred day simple moving average of $118.66.

NetEase Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 11th. Shareholders of record on Thursday, August 28th will be issued a $0.675 dividend. This represents a $2.70 annualized dividend and a yield of 1.9%. The ex-dividend date of this dividend is Thursday, August 28th. NetEase’s dividend payout ratio (DPR) is currently 30.72%.

Institutional Investors Weigh In On NetEase

Institutional investors have recently added to or reduced their stakes in the business. Sumitomo Mitsui Trust Group Inc. boosted its position in NetEase by 20.8% in the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 8,685 shares of the technology company’s stock valued at $894,000 after buying an additional 1,495 shares during the last quarter. Sequoia Financial Advisors LLC acquired a new stake in NetEase during the 1st quarter valued at approximately $398,000. Concurrent Investment Advisors LLC lifted its stake in NetEase by 5.4% during 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 during the period. GAMMA Investing LLC lifted its stake in NetEase by 10,192.0% during the 1st quarter. GAMMA Investing LLC now owns 2,573 shares of the technology company’s stock valued at $265,000 after acquiring an additional 2,548 shares during the period. Finally, Pine Haven Investment Counsel Inc acquired a new stake in NetEase during the 1st quarter valued at approximately $206,000. Institutional investors and hedge funds 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.