New York State Common Retirement Fund cut its stake in shares of NetEase Inc (NASDAQ:NTES) by 12.3% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 78,466 shares of the technology company’s stock after selling 11,021 shares during the period. New York State Common Retirement Fund owned approximately 0.06% of NetEase worth $20,700,000 at the end of the most recent quarter.

Several other institutional investors also recently made changes to their positions in NTES. Artisan Partners Limited Partnership acquired a new position in NetEase during the second quarter valued at $287,603,000. FMR LLC raised its position in NetEase by 63.3% during the second quarter. FMR LLC now owns 2,170,611 shares of the technology company’s stock valued at $652,551,000 after buying an additional 841,692 shares during the period. Renaissance Technologies LLC raised its position in NetEase by 20.1% during the second quarter. Renaissance Technologies LLC now owns 2,726,000 shares of the technology company’s stock valued at $819,517,000 after buying an additional 456,300 shares during the period. Orbis Allan Gray Ltd raised its position in NetEase by 17.9% during the second quarter. Orbis Allan Gray Ltd now owns 2,459,381 shares of the technology company’s stock valued at $739,364,000 after buying an additional 372,510 shares during the period. Finally, Los Angeles Capital Management & Equity Research Inc. acquired a new position in NetEase during the second quarter valued at $77,747,000. 50.54% of the stock is currently owned by institutional investors.

NetEase Inc (NASDAQ:NTES) opened at $357.80 on Thursday. NetEase Inc has a 52 week low of $211.11 and a 52 week high of $375.10. The company has a market capitalization of $47,270.00, a PE ratio of 22.95, a price-to-earnings-growth ratio of 1.93 and a beta of 0.95.

NetEase declared that its Board of Directors has approved a share repurchase plan on Wednesday, November 15th that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the technology company to reacquire shares of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.

The company also recently announced a quarterly dividend, which was paid on Friday, December 8th. Shareholders of record on Friday, December 1st were paid a $0.717 dividend. The ex-dividend date of this dividend was Thursday, November 30th. This represents a $2.87 dividend on an annualized basis and a yield of 0.80%. NetEase’s dividend payout ratio (DPR) is currently 24.31%.

Several research firms recently weighed in on NTES. Vetr raised NetEase from a “hold” rating to a “buy” rating and set a $323.68 price target on the stock in a research report on Monday, November 13th. Jefferies Group reissued a “hold” rating and set a $302.00 price target on shares of NetEase in a research report on Friday, November 17th. BidaskClub lowered NetEase from a “buy” rating to a “hold” rating in a research report on Wednesday, August 16th. ValuEngine lowered NetEase from a “buy” rating to a “hold” rating in a research report on Friday, December 1st. Finally, Barclays upped their price target on NetEase from $260.00 to $320.00 and gave the company an “equal weight” rating in a research report on Tuesday, November 21st. Four equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and eight have given a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $327.05.

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About NetEase

NetEase, Inc (NetEase) is a technology company. The Company operates an interactive online community in China and is a provider of Chinese language content and services through its online games, Internet media, e-mail, e-commerce and other businesses. The Company operates through three segments: Online Game Services; Advertising Services, and E-mail, E-commerce and Others.

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Institutional Ownership by Quarter for NetEase (NASDAQ:NTES)

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