Teachers Retirement System of The State of Kentucky Makes New Investment in NetEase, Inc. (NASDAQ:NTES)

Teachers Retirement System of The State of Kentucky purchased a new position in NetEase, Inc. (NASDAQ:NTES – Get Rating) in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 90,600 shares of the technology company’s stock, valued at approximately $6,849,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. CI Investments Inc. boosted its stake in shares of NetEase by 25.3% during the 2nd quarter. CI Investments Inc. now owns 643 shares of the technology company’s stock valued at $60,000 after buying an additional 130 shares during the last quarter. Pacer Advisors Inc. boosted its stake in shares of NetEase by 2.6% during the 3rd quarter. Pacer Advisors Inc. now owns 5,957 shares of the technology company’s stock valued at $450,000 after buying an additional 150 shares during the last quarter. Cambridge Investment Research Advisors Inc. boosted its stake in shares of NetEase by 4.4% during the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 4,110 shares of the technology company’s stock valued at $311,000 after buying an additional 172 shares during the last quarter. Cadence Bank boosted its stake in shares of NetEase by 2.3% during the 2nd quarter. Cadence Bank now owns 9,465 shares of the technology company’s stock valued at $884,000 after buying an additional 210 shares during the last quarter. Finally, Naviter Wealth LLC boosted its stake in shares of NetEase by 6.8% during the 3rd quarter. Naviter Wealth LLC now owns 3,442 shares of the technology company’s stock valued at $260,000 after buying an additional 220 shares during the last quarter. Hedge funds and other institutional investors own 13.50% of the company’s stock.

NetEase Price Performance

Shares of NASDAQ NTES opened at $85.87 on Friday. NetEase, Inc. has a 1-year low of $53.09 and a 1-year high of $108.77. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.32 and a quick ratio of 2.30. The business’s fifty day moving average price is $86.30 and its two-hundred day moving average price is $77.34. The firm has a market capitalization of $56.22 billion, a PE ratio of 18.87 and a beta of 0.49.

NetEase Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 24th. Shareholders of record on Thursday, March 9th will be given a $0.27 dividend. This represents a $1.08 annualized dividend and a yield of 1.26%. The ex-dividend date is Wednesday, March 8th. NetEase’s dividend payout ratio is presently 23.52%.

Wall Street Analyst Weigh In

Several research firms have recently commented on NTES. StockNews.com began coverage on NetEase in a research note on Friday. They set a “buy” rating for the company. TheStreet raised NetEase from a “c+” rating to a “b-” rating in a research report on Wednesday, January 18th. JPMorgan Chase & Co. raised NetEase from a “neutral” rating to an “overweight” rating and upped their price target for the company from $85.00 to $100.00 in a research report on Tuesday, February 28th. HSBC dropped their price target on NetEase from $122.00 to $105.00 and set a “buy” rating on the stock in a research report on Friday, November 18th. Finally, Morgan Stanley upped their price target on NetEase from $85.00 to $95.00 in a research report on Wednesday, December 14th. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat, NetEase currently has an average rating of “Buy” and a consensus target price of $112.67.

NetEase Company Profile

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NetEase, Inc is an internet technology company, which engages in the provision of premium online services centered around content, community, communication and commerce. It develops and operates some of the most popular PC-client and mobile games in China. The firm also operates some of the most popular international online games in China by partnering with Blizzard Entertainment, Mojang AB (a Microsoft subsidiary) and other global game developers.