Public Employees Retirement System of Ohio Grows Holdings in NetEase, Inc. $NTES

Key Points

• The Public Employees Retirement System of Ohio increased its holdings in NetEase, Inc. by 10.6%, now owning 105,480 shares valued at $14.2 million.
• Various institutional investors significantly increased their positions in NetEase, with some firms raising their stakes by over 1,000%.
• Analyst ratings for NetEase have fluctuated, with current standings showing one "Strong Buy," seven "Buy," and three "Hold" ratings, with an average price target of $132.00.

Public Employees Retirement System of Ohio boosted its holdings in NetEase, Inc. (NASDAQ:NTES - Free Report) by 10.6% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 105,480 shares of the technology company's stock after purchasing an additional 10,123 shares during the quarter. Public Employees Retirement System of Ohio's holdings in NetEase were worth $14,195,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Reyes Financial Architecture Inc. raised its position in NetEase by 1,189.5% in the 2nd quarter. Reyes Financial Architecture Inc. now owns 245 shares of the technology company's stock valued at $33,000 after purchasing an additional 226 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC purchased a new position in NetEase during the 1st quarter worth $26,000. UMB Bank n.a. purchased a new position in NetEase during the 2nd quarter worth $39,000. Mather Group LLC. raised its position in NetEase by 1,415.0% during the 1st quarter. Mather Group LLC. now owns 303 shares of the technology company's stock worth $31,000 after buying an additional 283 shares during the last quarter. Finally, Pinnacle Bancorp Inc. raised its position in NetEase by 758.5% during the 2nd quarter. Pinnacle Bancorp Inc. now owns 455 shares of the technology company's stock worth $61,000 after buying an additional 402 shares during the last quarter. Hedge funds and other institutional investors own 11.07% of the company's stock.

Analyst Ratings Changes

NTES has been the subject of a number of analyst reports. Wall Street Zen downgraded shares of NetEase from a "strong-buy" rating to a "buy" rating in a research report on Saturday, September 20th. Arete upgraded shares of NetEase from a "sell" rating to a "buy" rating and set a $150.00 price objective for the company in a research report on Wednesday, September 3rd. Zacks Research downgraded shares of 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 shares of NetEase and gave the stock an "equal weight" rating in a research report on Monday, August 18th. Finally, JPMorgan Chase & Co. cut shares of NetEase from an "overweight" rating to a "neutral" rating and upped their price target for the stock from $135.00 to $140.00 in a research note on Monday, July 28th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and three have given a Hold rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $132.00.

NetEase Stock Down 2.2%

NASDAQ:NTES opened at $147.62 on Friday. NetEase, Inc. has a fifty-two week low of $75.88 and a fifty-two week high of $159.55. The stock has a market cap of $93.53 billion, a PE ratio of 19.98, a price-to-earnings-growth ratio of 2.01 and a beta of 0.67. The firm's fifty day simple moving average is $138.44 and its 200-day simple moving average is $123.13.

NetEase Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, September 11th. Stockholders of record on Thursday, August 28th were paid a dividend of $0.675 per share. The ex-dividend date of this dividend was Thursday, August 28th. This represents a $2.70 dividend on an annualized basis and a dividend yield of 1.8%. NetEase's dividend payout ratio is 30.72%.

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.

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