Mackenzie Financial Corp Sells 35,949 Shares of NetEase, Inc. (NASDAQ:NTES)

Mackenzie Financial Corp decreased its stake in shares of NetEase, Inc. (NASDAQ:NTES - Free Report) by 71.6% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 14,261 shares of the technology company's stock after selling 35,949 shares during the period. Mackenzie Financial Corp's holdings in NetEase were worth $1,329,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of NTES. WT Asset Management Ltd increased its position in NetEase by 381.1% during the fourth quarter. WT Asset Management Ltd now owns 996,686 shares of the technology company's stock worth $92,851,000 after purchasing an additional 789,499 shares during the last quarter. Assenagon Asset Management S.A. grew its stake in NetEase by 451.3% during the fourth quarter. Assenagon Asset Management S.A. now owns 511,454 shares of the technology company's stock worth $47,647,000 after buying an additional 418,677 shares during the period. Qube Research & Technologies Ltd purchased a new stake in NetEase during the third quarter worth approximately $12,017,000. New York State Common Retirement Fund grew its stake in NetEase by 221.9% during the third quarter. New York State Common Retirement Fund now owns 164,932 shares of the technology company's stock worth $16,520,000 after buying an additional 113,702 shares during the period. Finally, SCEP Management Ltd purchased a new stake in NetEase during the third quarter worth approximately $5,419,000. Institutional investors and hedge funds own 11.07% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have issued reports on NTES. Morgan Stanley decreased their price objective on shares of NetEase from $135.00 to $120.00 and set an "overweight" rating for the company in a research note on Friday, April 12th. HSBC decreased their price objective on shares of NetEase from $130.00 to $126.00 and set a "buy" rating for the company in a research note on Wednesday. Finally, StockNews.com upgraded shares of NetEase from a "buy" rating to a "strong-buy" rating in a research note on Tuesday, March 26th. Seven analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Buy" and a consensus target price of $126.00.

NetEase Stock Performance

Shares of NTES stock traded up $0.10 on Thursday, hitting $94.12. The stock had a trading volume of 547,097 shares, compared to its average volume of 1,727,754. NetEase, Inc. has a 52-week low of $80.79 and a 52-week high of $118.89. The firm has a market capitalization of $60.68 billion, a price-to-earnings ratio of 14.87, a P/E/G ratio of 0.85 and a beta of 0.58. The stock's 50 day moving average is $102.51 and its 200-day moving average is $103.03.

NetEase (NASDAQ:NTES - Get Free Report) last posted its quarterly earnings data on Thursday, February 29th. The technology company reported $1.42 EPS for the quarter, missing analysts' consensus estimates of $1.62 by ($0.20). NetEase had a net margin of 28.39% and a return on equity of 24.36%. The company had revenue of $3.82 billion for the quarter, compared to the consensus estimate of $3.96 billion. Equities analysts expect that NetEase, Inc. will post 7.04 earnings per share for the current year.

NetEase Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Thursday, March 14th were paid a dividend of $1.08 per share. This represents a $4.32 dividend on an annualized basis and a yield of 4.59%. This is an increase from NetEase's previous quarterly dividend of $0.50. The ex-dividend date was Wednesday, March 13th. NetEase's dividend payout ratio is 68.09%.

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.