116,990 Shares in NetEase, Inc. $NTES Bought by Public Employees Retirement System of Ohio

Public Employees Retirement System of Ohio acquired a new stake in NetEase, Inc. (NASDAQ:NTES) during the 2nd quarter, Holdings Channel reports. The fund acquired 116,990 shares of the technology company’s stock, valued at approximately $14,991,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Arkadios Wealth Advisors raised its stake in NetEase by 5.9% during the fourth quarter. Arkadios Wealth Advisors now owns 1,859 shares of the technology company’s stock worth $256,000 after acquiring an additional 103 shares in the last quarter. Cookson Peirce & Co. Inc. grew its holdings in shares of NetEase by 2.2% during the 4th quarter. Cookson Peirce & Co. Inc. now owns 4,961 shares of the technology company’s stock valued at $683,000 after purchasing an additional 106 shares during the last quarter. EverSource Wealth Advisors LLC grew its holdings in shares of NetEase by 16.0% during the 1st quarter. EverSource Wealth Advisors LLC now owns 777 shares of the technology company’s stock valued at $87,000 after purchasing an additional 107 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its position in NetEase by 10.7% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,119 shares of the technology company’s stock worth $154,000 after purchasing an additional 108 shares in the last quarter. Finally, Mission Wealth Management LP increased its position in NetEase by 4.4% during the 2nd quarter. Mission Wealth Management LP now owns 2,631 shares of the technology company’s stock worth $337,000 after purchasing an additional 110 shares in the last quarter. Institutional investors own 11.07% of the company’s stock.

Insiders Place Their Bets

In related news, General Counsel Paul William Boltz, Jr. sold 10,000 shares of the stock in a transaction on Monday, June 29th. The stock was sold at an average price of $128.30, for a total value of $1,283,000.00. Following the completion of the sale, the general counsel directly owned 12,223 shares in the company, valued at $1,568,210.90. This represents a 45.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 54.70% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the stock. Benchmark restated a “buy” rating on shares of NetEase in a research report on Friday, May 22nd. The Goldman Sachs Group set a $169.00 price target on NetEase in a research note on Wednesday, July 1st. Wall Street Zen downgraded NetEase from a “buy” rating to a “hold” rating in a report on Sunday, August 2nd. Sanford C. Bernstein restated an “outperform” rating and set a $160.00 price objective on shares of NetEase in a research report on Friday, August 21st. Finally, Zacks Research cut NetEase from a “strong-buy” rating to a “hold” rating in a report on Monday, July 27th. Eight equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, NetEase has an average rating of “Moderate Buy” and an average target price of $159.00.

NetEase Price Performance

NTES opened at $122.76 on Monday. NetEase, Inc. has a fifty-two week low of $106.06 and a fifty-two week high of $159.55. The company’s 50 day moving average price is $126.97 and its two-hundred day moving average price is $120.53. The firm has a market capitalization of $78.60 billion, a price-to-earnings ratio of 16.91, a PEG ratio of 1.42 and a beta of 0.73.

NetEase Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 18th. Investors of record on Thursday, September 3rd will be paid a $0.48 dividend. The ex-dividend date of this dividend is Thursday, September 3rd. This represents a $1.92 annualized dividend and a dividend yield of 1.6%. NetEase’s payout ratio is currently 26.31%.

NetEase Company Profile

NetEase, Inc (NASDAQ: NTES) is a Chinese technology company headquartered in Hangzhou that develops and operates Internet services and products. Founded in 1997 by William Ding (Ding Lei), the company has grown from an early web portal and e-mail provider into a diversified online services group. William Ding has served as the company’s founder and long-time leader, guiding its expansion into games, digital content and consumer services.

The company’s primary business is interactive entertainment: NetEase Games designs, develops and publishes PC and mobile games for domestic and international audiences, offering a mix of self-developed franchises and titles published under licensing and strategic partnerships.