California Public Employees Retirement System lowered its stake in NetEase Inc (NASDAQ:NTES) by 14.7% during the first quarter, Holdings Channel reports. The institutional investor owned 72,500 shares of the technology company’s stock after selling 12,489 shares during the period. California Public Employees Retirement System’s holdings in NetEase were worth $17,505,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently made changes to their positions in NTES. Lindbrook Capital LLC acquired a new position in NetEase in the 4th quarter valued at about $31,000. Lavaca Capital LLC acquired a new position in NetEase in the 4th quarter valued at about $62,000. Atlas Capital Advisors LLC acquired a new position in NetEase in the 4th quarter valued at about $64,000. Quadrant Capital Group LLC grew its stake in NetEase by 775.9% in the 4th quarter. Quadrant Capital Group LLC now owns 508 shares of the technology company’s stock valued at $116,000 after buying an additional 450 shares during the last quarter. Finally, Stelac Advisory Services LLC acquired a new position in NetEase in the 4th quarter valued at about $119,000. Institutional investors and hedge funds own 44.96% of the company’s stock.

Shares of NASDAQ:NTES opened at $266.53 on Monday. NetEase Inc has a 12-month low of $184.60 and a 12-month high of $289.68. The company has a market cap of $35.00 billion, a price-to-earnings ratio of 38.80, a price-to-earnings-growth ratio of 26.06 and a beta of 0.81.

NetEase (NASDAQ:NTES) last announced its earnings results on Wednesday, May 15th. The technology company reported $2.75 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.86 by $0.89. NetEase had a net margin of 10.94% and a return on equity of 17.46%. The firm had revenue of $2.74 billion for the quarter, compared to analyst estimates of $2.73 billion. During the same quarter in the prior year, the business posted $1.59 EPS. The business’s revenue was up 23.0% compared to the same quarter last year. Sell-side analysts expect that NetEase Inc will post 7.33 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Friday, June 7th. Stockholders of record on Friday, May 31st will be issued a dividend of $0.69 per share. This represents a $2.76 dividend on an annualized basis and a dividend yield of 1.04%. The ex-dividend date is Thursday, May 30th. This is an increase from NetEase’s previous quarterly dividend of $0.48. NetEase’s dividend payout ratio is 27.80%.

A number of research analysts have issued reports on the stock. Zacks Investment Research upgraded shares of NetEase from a “hold” rating to a “strong-buy” rating and set a $289.00 target price on the stock in a research report on Wednesday, February 6th. BidaskClub upgraded shares of NetEase from a “hold” rating to a “buy” rating in a research report on Thursday, March 14th. TH Capital increased their target price on shares of NetEase from $270.00 to $310.00 and gave the stock a “buy” rating in a research report on Monday, May 13th. Barclays increased their target price on shares of NetEase from $275.00 to $300.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 14th. They noted that the move was a valuation call. Finally, Jefferies Financial Group lowered shares of NetEase from a “buy” rating to a “hold” rating and set a $245.00 target price on the stock. in a research report on Thursday, February 21st. Three investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. NetEase has an average rating of “Buy” and an average target price of $278.45.

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About NetEase

NetEase, Inc operates an interactive online community in the People's Republic of China. The company operates in four segments: Online Games Services, E-Commerce, Advertising Services, and Innovative Businesses and Other Services. It offers various games in a range of genres through mobile devices and PCs, including role-playing games, MMORPGs, battle arena games, simulation games, collectible card games, first-person shooter games, sandbox games, and other types of games to the Chinese market.

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Institutional Ownership by Quarter for NetEase (NASDAQ:NTES)

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