NetEase, Inc. (NASDAQ:NTES) Shares Sold by New York State Common Retirement Fund

New York State Common Retirement Fund reduced its stake in NetEase, Inc. (NASDAQ:NTES - Free Report) by 76.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 39,600 shares of the technology company's stock after selling 125,332 shares during the period. New York State Common Retirement Fund's holdings in NetEase were worth $3,689,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Financial Counselors Inc. raised its position in NetEase by 4.1% during the 4th quarter. Financial Counselors Inc. now owns 3,195 shares of the technology company's stock valued at $298,000 after purchasing an additional 125 shares during the last quarter. Lindbrook Capital LLC increased its position in shares of NetEase by 14.0% during the fourth quarter. Lindbrook Capital LLC now owns 1,043 shares of the technology company's stock valued at $97,000 after buying an additional 128 shares during the period. Sequoia Financial Advisors LLC raised its stake in NetEase by 5.8% in the fourth quarter. Sequoia Financial Advisors LLC now owns 2,588 shares of the technology company's stock worth $241,000 after buying an additional 143 shares in the last quarter. Huntington National Bank lifted its holdings in NetEase by 31.4% in the third quarter. Huntington National Bank now owns 678 shares of the technology company's stock worth $68,000 after buying an additional 162 shares during the period. Finally, Panagora Asset Management Inc. boosted its position in NetEase by 1.5% during the 3rd quarter. Panagora Asset Management Inc. now owns 12,201 shares of the technology company's stock valued at $1,222,000 after acquiring an additional 178 shares in the last quarter. Institutional investors own 11.07% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on NTES shares. Morgan Stanley dropped their price target on NetEase from $135.00 to $120.00 and set an "overweight" rating on the stock in a research report on Friday, April 12th. StockNews.com downgraded NetEase from a "strong-buy" rating to a "buy" rating in a research note on Monday, April 29th. Finally, HSBC reduced their price objective on NetEase from $130.00 to $126.00 and set a "buy" rating for the company in a research report on Wednesday, April 24th. Eight investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus target price of $126.00.

NetEase Stock Performance

Shares of NetEase stock traded down $1.16 on Monday, hitting $101.86. 2,655,782 shares of the company's stock were exchanged, compared to its average volume of 1,722,953. NetEase, Inc. has a 1 year low of $80.79 and a 1 year high of $118.89. The company has a 50-day simple moving average of $101.09 and a 200-day simple moving average of $102.61. The stock has a market capitalization of $65.67 billion, a PE ratio of 16.09, a PEG ratio of 0.94 and a beta of 0.58.

NetEase (NASDAQ:NTES - Get Free Report) last issued its quarterly earnings results on Thursday, February 29th. The technology company reported $1.42 EPS for the quarter, missing analysts' consensus estimates of $1.62 by ($0.20). The company had revenue of $3.82 billion during the quarter, compared to analysts' expectations of $3.96 billion. NetEase had a return on equity of 24.36% and a net margin of 28.39%. On average, analysts expect that NetEase, Inc. will post 7.04 EPS for the current fiscal year.

NetEase Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Thursday, March 14th were given a dividend of $1.08 per share. This represents a $4.32 annualized dividend and a dividend yield of 4.24%. This is an increase from NetEase's previous quarterly dividend of $0.50. The ex-dividend date of this dividend was Wednesday, March 13th. NetEase's dividend payout ratio (DPR) is presently 68.09%.

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.