Public Employees Retirement System of Ohio Takes Position in NetEase, Inc. (NASDAQ:NTES)

Public Employees Retirement System of Ohio acquired a new position in shares of NetEase, Inc. (NASDAQ:NTES - Free Report) during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 124,433 shares of the technology company's stock, valued at approximately $11,636,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in NTES. Sequoia Financial Advisors LLC boosted its stake in NetEase by 4.3% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 2,575 shares of the technology company's stock worth $246,000 after purchasing an additional 107 shares during the period. SYSTM Wealth Solutions LLC boosted its stake in shares of NetEase by 55.5% during the second quarter. SYSTM Wealth Solutions LLC now owns 328 shares of the technology company's stock worth $31,000 after buying an additional 117 shares during the period. Fifth Third Bancorp grew its holdings in shares of NetEase by 1.9% during the second quarter. Fifth Third Bancorp now owns 7,658 shares of the technology company's stock worth $732,000 after buying an additional 146 shares during the last quarter. State Street Corp increased its position in NetEase by 0.3% in the 3rd quarter. State Street Corp now owns 56,729 shares of the technology company's stock valued at $5,305,000 after acquiring an additional 156 shares during the period. Finally, Financial Advocates Investment Management increased its position in NetEase by 5.4% in the 3rd quarter. Financial Advocates Investment Management now owns 4,647 shares of the technology company's stock valued at $435,000 after acquiring an additional 237 shares during the period. Institutional investors and hedge funds own 11.07% of the company's stock.

Analysts Set New Price Targets

Several research analysts have weighed in on NTES shares. Barclays lowered their target price on NetEase from $104.00 to $82.00 and set an "equal weight" rating on the stock in a research note on Monday, August 26th. StockNews.com cut shares of NetEase from a "strong-buy" rating to a "buy" rating in a research note on Friday, December 6th. Bank of America reduced their target price on shares of NetEase from $142.00 to $120.00 and set a "buy" rating for the company in a research note on Friday, August 23rd. Jefferies Financial Group dropped 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. Finally, Citigroup increased their price target on shares of NetEase from $108.00 to $115.00 and gave the stock a "buy" rating in a report on Friday, November 15th. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $107.29.

NetEase Stock Performance

NTES traded down $0.62 on Thursday, hitting $96.28. 706,086 shares of the company were exchanged, compared to its average volume of 1,727,919. NetEase, Inc. has a fifty-two week low of $75.85 and a fifty-two week high of $114.50. The firm has a market capitalization of $61.83 billion, a P/E ratio of 16.37, a price-to-earnings-growth ratio of 3.37 and a beta of 0.57. The business's fifty day moving average is $85.84 and its 200 day moving average is $87.81.

NetEase Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 29th will be paid a $0.435 dividend. This represents a $1.74 annualized dividend and a yield of 1.81%. The ex-dividend date of this dividend is Friday, November 29th. NetEase's payout ratio is currently 29.22%.

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.