New York State Common Retirement Fund Purchases Shares of 279,489 NetEase, Inc. (NASDAQ:NTES)

New York State Common Retirement Fund purchased a new stake in shares of NetEase, Inc. (NASDAQ:NTES - Free Report) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 279,489 shares of the technology company's stock, valued at approximately $28,765,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of NTES. Mather Group LLC. lifted its position in shares of NetEase by 1,415.0% during the first quarter. Mather Group LLC. now owns 303 shares of the technology company's stock worth $31,000 after purchasing an additional 283 shares in the last quarter. Farther Finance Advisors LLC increased its stake in NetEase by 81.7% during the fourth quarter. Farther Finance Advisors LLC now owns 338 shares of the technology company's stock valued at $30,000 after purchasing an additional 152 shares during the last quarter. TD Private Client Wealth LLC bought a new position in shares of NetEase during the first quarter worth about $65,000. Toronto Dominion Bank bought a new position in shares of NetEase during the fourth quarter worth about $145,000. Finally, Pine Haven Investment Counsel Inc bought a new position in shares of NetEase during the first quarter worth about $206,000. 11.07% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

NTES has been the subject of a number of recent analyst reports. Barclays increased their target price on shares of NetEase from $104.00 to $118.00 and gave the company an "equal weight" rating in a research report on Friday, May 16th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of NetEase in a report on Monday, May 12th. They issued a "buy" rating and a $130.00 price target for the company. Wall Street Zen raised shares of NetEase from a "buy" rating to a "strong-buy" rating in a research note on Thursday, May 22nd. Finally, JPMorgan Chase & Co. upped their target price on NetEase from $120.00 to $135.00 and gave the company an "overweight" rating in a report on Monday, May 19th. One research analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Buy" and a consensus target price of $119.38.

NetEase Price Performance

NASDAQ:NTES traded down $0.52 during mid-day trading on Wednesday, reaching $132.61. The stock had a trading volume of 522,521 shares, compared to its average volume of 1,466,203. The business's 50 day moving average is $126.04 and its 200 day moving average is $109.24. NetEase, Inc. has a fifty-two week low of $75.85 and a fifty-two week high of $135.32. The stock has a market cap of $84.02 billion, a P/E ratio of 19.08, a PEG ratio of 4.64 and a beta of 0.69.

NetEase Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 13th. Investors of record on Friday, May 30th were issued a $0.675 dividend. The ex-dividend date was Friday, May 30th. This represents a $2.70 dividend on an annualized basis and a yield of 2.04%. NetEase's dividend payout ratio is currently 38.71%.

NetEase 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.