Public Employees Retirement System of Ohio Purchases Shares of 116,990 NetEase, Inc. $NTES

Public Employees Retirement System of Ohio acquired a new position in shares of NetEase, Inc. (NASDAQ:NTES) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 116,990 shares of the technology company’s stock, valued at approximately $14,991,000.

Other institutional investors also recently made changes to their positions in the company. Arkadios Wealth Advisors increased its stake in shares of 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 purchasing an additional 103 shares during the period. Cookson Peirce & Co. Inc. boosted its stake in NetEase by 2.2% in 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 period. EverSource Wealth Advisors LLC grew its holdings in NetEase by 16.0% in the 1st quarter. EverSource Wealth Advisors LLC now owns 777 shares of the technology company’s stock valued at $87,000 after buying an additional 107 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in NetEase by 10.7% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,119 shares of the technology company’s stock valued at $154,000 after buying 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 buying an additional 110 shares during the period. Institutional investors own 11.07% of the company’s stock.

NetEase Stock Performance

Shares of NASDAQ NTES opened at $122.76 on Monday. The stock has a market capitalization of $78.60 billion, a P/E ratio of 16.91, a PEG ratio of 1.42 and a beta of 0.73. The stock’s fifty day moving average is $126.97 and its 200 day moving average is $120.53. NetEase, Inc. has a 52 week low of $106.06 and a 52 week high of $159.55.

NetEase Cuts Dividend

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

Insider Buying and Selling at NetEase

In other news, General Counsel Paul William Boltz, Jr. sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, June 29th. The shares were sold at an average price of $128.30, for a total transaction of $1,283,000.00. Following the completion of the sale, the general counsel owned 12,223 shares of the company’s stock, valued at approximately $1,568,210.90. This represents a 45.00% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 54.70% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on NTES shares. Weiss Ratings cut shares of NetEase from a “hold (c+)” rating to a “hold (c)” rating in a research report on Tuesday, August 4th. Morgan Stanley reaffirmed an “overweight” rating and set a $158.00 price target on shares of NetEase in a research report on Tuesday, May 26th. Sanford C. Bernstein reissued an “outperform” rating and issued a $160.00 price objective on shares of NetEase in a report on Friday, August 21st. Wall Street Zen lowered shares of NetEase from a “buy” rating to a “hold” rating in a research report on Sunday, August 2nd. Finally, Zacks Research cut shares of NetEase from a “strong-buy” rating to a “hold” rating in a report on Monday, July 27th. Eight investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $159.00.

NetEase 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.