Healthcare of Ontario Pension Plan Trust Fund Boosts Stock Position in NetEase, Inc. (NASDAQ:NTES)

Healthcare of Ontario Pension Plan Trust Fund boosted its holdings in NetEase, Inc. (NASDAQ:NTES) by 472.6% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 418,000 shares of the technology company’s stock after acquiring an additional 345,000 shares during the period. Healthcare of Ontario Pension Plan Trust Fund owned 0.07% of NetEase worth $39,087,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the business. Sequoia Financial Advisors LLC lifted its holdings in NetEase by 4.3% in the second quarter. Sequoia Financial Advisors LLC now owns 2,575 shares of the technology company’s stock valued at $246,000 after acquiring an additional 107 shares during the last quarter. Guinness Atkinson Asset Management Inc lifted its stake in NetEase by 0.7% during the second quarter. Guinness Atkinson Asset Management Inc now owns 15,422 shares of the technology company’s stock worth $1,474,000 after purchasing an additional 110 shares in the last quarter. SYSTM Wealth Solutions LLC lifted its stake in NetEase by 55.5% during the second quarter. SYSTM Wealth Solutions LLC now owns 328 shares of the technology company’s stock worth $31,000 after purchasing an additional 117 shares in the last quarter. Fifth Third Bancorp lifted its stake in NetEase by 1.9% during the second quarter. Fifth Third Bancorp now owns 7,658 shares of the technology company’s stock worth $732,000 after purchasing an additional 146 shares in the last quarter. Finally, Financial Advocates Investment Management lifted its stake in NetEase by 5.4% during the third quarter. Financial Advocates Investment Management now owns 4,647 shares of the technology company’s stock worth $435,000 after purchasing an additional 237 shares in the last quarter. 11.07% of the stock is currently owned by institutional investors and hedge funds.

NetEase Stock Performance

NTES opened at $86.56 on Thursday. The company has a 50-day moving average of $85.30 and a 200-day moving average of $88.33. The company has a market capitalization of $55.59 billion, a P/E ratio of 14.62, a PEG ratio of 3.16 and a beta of 0.57. NetEase, Inc. has a 1-year low of $75.85 and a 1-year high of $115.00.

NetEase Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 29th will be given a dividend of $0.435 per share. This represents a $1.74 dividend on an annualized basis and a dividend yield of 2.01%. The ex-dividend date is Friday, November 29th. NetEase’s dividend payout ratio is presently 29.22%.

Analyst Ratings Changes

A number of research analysts have commented on the company. Barclays decreased their price target on NetEase from $104.00 to $82.00 and set an “equal weight” rating on the stock in a research note on Monday, August 26th. Benchmark reduced their price objective on NetEase from $120.00 to $105.00 and set a “buy” rating on the stock in a research note on Friday, November 15th. Bank of America reduced their price objective on NetEase from $142.00 to $120.00 and set a “buy” rating on the stock in a research note on Friday, August 23rd. Citigroup increased their target price on NetEase from $108.00 to $115.00 and gave the company a “buy” rating in a report on Friday, November 15th. Finally, Jefferies Financial Group dropped their target price on NetEase from $126.00 to $103.00 and set a “buy” rating on the stock in a report on Thursday, August 22nd. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $107.29.

About NetEase

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.