Teachers Retirement System of The State of Kentucky Has $18.80 Million Holdings in NetEase, Inc. (NASDAQ:NTES)

Teachers Retirement System of The State of Kentucky grew its holdings in NetEase, Inc. (NASDAQ:NTES) by 20.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 181,700 shares of the technology company’s stock after purchasing an additional 31,400 shares during the quarter. Teachers Retirement System of The State of Kentucky’s holdings in NetEase were worth $18,800,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Raymond James & Associates lifted its stake in NetEase by 4.2% in the fourth quarter. Raymond James & Associates now owns 19,519 shares of the technology company’s stock valued at $1,818,000 after buying an additional 786 shares during the period. Raymond James Financial Services Advisors Inc. boosted its stake in NetEase by 8.7% during the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 2,348 shares of the technology company’s stock worth $219,000 after acquiring an additional 188 shares during the last quarter. Blue Trust Inc. grew its holdings in NetEase by 61.7% during the fourth quarter. Blue Trust Inc. now owns 1,174 shares of the technology company’s stock valued at $117,000 after purchasing an additional 448 shares during the period. Trust Point Inc. bought a new stake in NetEase in the fourth quarter valued at approximately $323,000. Finally, Ballentine Partners LLC increased its stake in NetEase by 21.1% in the fourth quarter. Ballentine Partners LLC now owns 2,609 shares of the technology company’s stock valued at $243,000 after purchasing an additional 455 shares in the last quarter. 11.07% of the stock is owned by institutional investors.

NetEase Stock Performance

NetEase stock traded down $1.13 during midday trading on Friday, reaching $89.97. The stock had a trading volume of 1,309,239 shares, compared to its average volume of 1,561,963. NetEase, Inc. has a 1-year low of $81.30 and a 1-year high of $118.89. The firm’s fifty day simple moving average is $92.50 and its 200-day simple moving average is $98.06. The stock has a market capitalization of $57.78 billion, a P/E ratio of 13.95, a price-to-earnings-growth ratio of 1.81 and a beta of 0.53.

NetEase (NASDAQ:NTES) last posted its quarterly earnings data on Thursday, May 23rd. The technology company reported $1.63 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.68 by ($0.05). NetEase had a net margin of 28.75% and a return on equity of 24.19%. The business had revenue of $3.72 billion during the quarter, compared to analyst estimates of $3.61 billion. On average, sell-side analysts anticipate that NetEase, Inc. will post 6.7 earnings per share for the current fiscal year.

NetEase Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 21st. Stockholders of record on Thursday, June 6th were paid a dividend of $0.495 per share. The ex-dividend date of this dividend was Thursday, June 6th. This represents a $1.98 dividend on an annualized basis and a dividend yield of 2.20%. NetEase’s dividend payout ratio is 30.54%.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on NTES. Barclays initiated coverage on shares of NetEase in a report on Thursday, June 13th. They issued an “equal weight” rating and a $104.00 price target for the company. HSBC dropped their price target on NetEase from $130.00 to $126.00 and set a “buy” rating on the stock in a research report on Wednesday, April 24th. StockNews.com lowered NetEase from a “strong-buy” rating to a “buy” rating in a research report on Saturday, July 20th. Benchmark raised their target price on shares of NetEase from $144.00 to $145.00 and gave the stock a “buy” rating in a report on Friday, May 24th. Finally, Morgan Stanley reaffirmed an “equal weight” rating and issued a $100.00 price target on shares of NetEase in a research note on Friday, July 5th. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $123.86.

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.