Healthcare of Ontario Pension Plan Trust Fund Increases Stock Position in NetEase, Inc. (NASDAQ:NTES)

Healthcare of Ontario Pension Plan Trust Fund raised its stake in NetEase, Inc. (NASDAQ:NTES - Free Report) by 472.6% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 418,000 shares of the technology company's stock after buying an additional 345,000 shares during the quarter. Healthcare of Ontario Pension Plan Trust Fund owned about 0.07% of NetEase worth $39,087,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of NTES. B. Riley Wealth Advisors Inc. increased its stake in NetEase by 21.9% during the first quarter. B. Riley Wealth Advisors Inc. now owns 4,127 shares of the technology company's stock worth $413,000 after purchasing an additional 741 shares during the period. Teachers Retirement System of The State of Kentucky increased its stake in NetEase by 20.9% during the first quarter. Teachers Retirement System of The State of Kentucky now owns 181,700 shares of the technology company's stock worth $18,800,000 after purchasing an additional 31,400 shares during the period. Aurora Investment Counsel increased its stake in NetEase by 6.8% during the first quarter. Aurora Investment Counsel now owns 24,766 shares of the technology company's stock worth $2,563,000 after purchasing an additional 1,568 shares during the period. Mather Group LLC. increased its stake in NetEase by 1,415.0% during the second quarter. Mather Group LLC. now owns 303 shares of the technology company's stock worth $31,000 after purchasing an additional 283 shares during the period. Finally, Guinness Atkinson Asset Management Inc increased its stake in NetEase by 0.7% during the second quarter. Guinness Atkinson Asset Management Inc now owns 15,422 shares of the technology company's stock worth $1,474,000 after purchasing an additional 110 shares during the period. Institutional investors and hedge funds own 11.07% of the company's stock.

NetEase Stock Performance

NTES stock traded up $0.35 during midday trading on Thursday, reaching $86.56. 724,421 shares of the company were exchanged, compared to its average volume of 1,739,098. NetEase, Inc. has a 1-year low of $75.85 and a 1-year high of $115.00. The stock's 50-day simple moving average is $85.30 and its 200 day simple moving average is $88.33. The company has a market cap of $55.59 billion, a price-to-earnings ratio of 14.62, a price-to-earnings-growth ratio of 3.16 and a beta of 0.57.

NetEase Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 29th will be given a dividend of $0.435 per share. The ex-dividend date is Friday, November 29th. This represents a $1.74 dividend on an annualized basis and a dividend yield of 2.01%. NetEase's dividend payout ratio (DPR) is presently 29.22%.

Wall Street Analysts Forecast Growth

NTES has been the topic of a number of recent research reports. Jefferies Financial Group cut their price target on shares of NetEase from $126.00 to $103.00 and set a "buy" rating on the stock in a research note on Thursday, August 22nd. Barclays reduced their target price on shares of NetEase from $104.00 to $82.00 and set an "equal weight" rating on the stock in a report on Monday, August 26th. Bank of America reduced their target price on shares of NetEase from $142.00 to $120.00 and set a "buy" rating on the stock in a report on Friday, August 23rd. Benchmark reduced their target price on shares of NetEase from $120.00 to $105.00 and set a "buy" rating on the stock in a report on Friday, November 15th. Finally, Citigroup raised their target price on shares of NetEase from $108.00 to $115.00 and gave the company a "buy" rating in a report on Friday, November 15th. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, NetEase currently has a consensus rating of "Moderate Buy" and a consensus target price of $107.29.

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.