State of New Jersey Common Pension Fund D Has $3.85 Million Stock Holdings in NetEase, Inc. (NASDAQ:NTES)

State of New Jersey Common Pension Fund D boosted its stake in NetEase, Inc. (NASDAQ:NTES) by 19.5% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 40,251 shares of the technology company’s stock after purchasing an additional 6,555 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in NetEase were worth $3,847,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of the stock. Headlands Technologies LLC grew its holdings in NetEase by 9,546.0% in the second quarter. Headlands Technologies LLC now owns 20,546 shares of the technology company’s stock worth $1,964,000 after purchasing an additional 20,333 shares during the period. Varma Mutual Pension Insurance Co grew its holdings in shares of NetEase by 10.2% during the second quarter. Varma Mutual Pension Insurance Co now owns 72,597 shares of the technology company’s stock valued at $6,939,000 after buying an additional 6,700 shares during the last quarter. Caprock Group LLC grew its holdings in shares of NetEase by 70.4% during the second quarter. Caprock Group LLC now owns 3,450 shares of the technology company’s stock valued at $330,000 after buying an additional 1,425 shares during the last quarter. National Bank of Canada FI grew its holdings in shares of NetEase by 5,735.2% during the second quarter. National Bank of Canada FI now owns 281,080 shares of the technology company’s stock valued at $27,113,000 after buying an additional 276,263 shares during the last quarter. Finally, Naviter Wealth LLC grew its holdings in shares of NetEase by 22.2% during the second quarter. Naviter Wealth LLC now owns 6,562 shares of the technology company’s stock valued at $627,000 after buying an additional 1,190 shares during the last quarter. 11.07% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on NTES shares. StockNews.com cut shares of NetEase from a “strong-buy” rating to a “buy” rating in a report on Saturday, July 20th. Morgan Stanley reiterated an “equal weight” rating and set a $100.00 price objective on shares of NetEase in a report on Friday, July 5th. Benchmark lifted their price objective on shares of NetEase from $144.00 to $145.00 and gave the company a “buy” rating in a report on Friday, May 24th. Barclays reduced their price objective on shares of NetEase from $104.00 to $82.00 and set an “equal weight” rating for the company in a report on Monday, August 26th. Finally, Bank of America cut their price target on shares of NetEase from $142.00 to $120.00 and set a “buy” rating on the stock in a report on Friday, August 23rd. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, NetEase has a consensus rating of “Moderate Buy” and an average price target of $112.67.

NetEase Stock Performance

Shares of NTES stock opened at $77.02 on Wednesday. The firm has a market cap of $49.46 billion, a price-to-earnings ratio of 11.94, a P/E/G ratio of 1.72 and a beta of 0.54. NetEase, Inc. has a 52 week low of $75.85 and a 52 week high of $118.89. The firm’s 50-day simple moving average is $86.69 and its two-hundred day simple moving average is $93.59.

NetEase (NASDAQ:NTES) last announced its quarterly earnings data on Thursday, August 22nd. The technology company reported $12.05 EPS for the quarter, topping the consensus estimate of $1.62 by $10.43. The business had revenue of $25.49 billion for the quarter, compared to analyst estimates of $26.01 billion. NetEase had a net margin of 26.98% and a return on equity of 22.30%. The company’s revenue for the quarter was up 6.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.75 earnings per share. Analysts forecast that NetEase, Inc. will post 6.05 earnings per share for the current year.

NetEase Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 20th. Shareholders of record on Friday, September 6th will be given a $0.435 dividend. This represents a $1.74 annualized dividend and a yield of 2.26%. The ex-dividend date is Friday, September 6th. NetEase’s dividend payout ratio is 26.82%.

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.