State of New Jersey Common Pension Fund D Purchases 35,031 Shares of NetEase, Inc. (NASDAQ:NTES)

State of New Jersey Common Pension Fund D lifted its holdings in shares of NetEase, Inc. (NASDAQ:NTES - Free Report) by 87.0% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 75,282 shares of the technology company's stock after buying an additional 35,031 shares during the period. State of New Jersey Common Pension Fund D's holdings in NetEase were worth $7,040,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Mather Group LLC. increased its stake in shares of NetEase by 1,415.0% in the second quarter. Mather Group LLC. now owns 303 shares of the technology company's stock worth $31,000 after acquiring an additional 283 shares during the last quarter. SYSTM Wealth Solutions LLC boosted its holdings in NetEase by 55.5% in the second quarter. SYSTM Wealth Solutions LLC now owns 328 shares of the technology company's stock worth $31,000 after purchasing an additional 117 shares in the last quarter. Ariadne Wealth Management LP bought a new stake in NetEase in the second quarter worth $35,000. Highline Wealth Partners LLC bought a new stake in NetEase during the third quarter valued at about $45,000. Finally, Allspring Global Investments Holdings LLC bought a new stake in NetEase during the third quarter valued at about $76,000. 11.07% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

NTES has been the subject of several research reports. Jefferies Financial Group reduced their target price on shares of NetEase from $126.00 to $103.00 and set a "buy" rating for the company in a research note on Thursday, August 22nd. 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. StockNews.com lowered shares of NetEase from a "strong-buy" rating to a "buy" rating in a research report on Saturday, July 20th. Finally, Barclays dropped their price target on shares of NetEase from $104.00 to $82.00 and set an "equal weight" rating for the company in a research report on Monday, August 26th. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $112.67.

NetEase Stock Performance

Shares of NASDAQ NTES traded down $0.14 during mid-day trading on Tuesday, hitting $77.47. 835,514 shares of the stock were exchanged, compared to its average volume of 1,729,316. The stock's fifty day simple moving average is $83.53 and its two-hundred day simple moving average is $89.34. NetEase, Inc. has a twelve month low of $75.85 and a twelve month high of $118.89. The company has a market cap of $49.75 billion, a P/E ratio of 12.66, a PEG ratio of 1.70 and a beta of 0.57.

NetEase (NASDAQ:NTES - Get Free Report) last released its earnings results on Thursday, August 22nd. The technology company reported $12.05 EPS for the quarter, topping analysts' consensus estimates of $1.62 by $10.43. NetEase had a net margin of 26.98% and a return on equity of 22.30%. The firm had revenue of $25.49 billion during the quarter, compared to analyst estimates of $26.01 billion. During the same quarter in the previous year, the business earned $1.75 EPS. The business's quarterly revenue was up 6.1% compared to the same quarter last year. As a group, equities research analysts predict that NetEase, Inc. will post 6.02 earnings per share for the current fiscal year.

NetEase Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, September 20th. Stockholders of record on Friday, September 6th were issued a $0.435 dividend. This represents a $1.74 annualized dividend and a dividend yield of 2.25%. The ex-dividend date of this dividend was Friday, September 6th. NetEase's dividend payout ratio (DPR) is 28.22%.

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.