Russell Investments Group Ltd. Has $16.85 Million Stock Position in NetEase, Inc. (NASDAQ:NTES)

Russell Investments Group Ltd. trimmed its stake in shares of NetEase, Inc. (NASDAQ:NTES - Free Report) by 16.2% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 180,889 shares of the technology company's stock after selling 35,078 shares during the quarter. Russell Investments Group Ltd.'s holdings in NetEase were worth $16,852,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the stock. Cambridge Investment Research Advisors Inc. increased its stake in shares of NetEase by 13.2% during the third quarter. Cambridge Investment Research Advisors Inc. now owns 6,467 shares of the technology company's stock worth $648,000 after buying an additional 752 shares during the period. Dakota Wealth Management acquired a new stake in shares of NetEase in the 3rd quarter valued at $200,000. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of NetEase by 86.8% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 16,918 shares of the technology company's stock valued at $1,695,000 after purchasing an additional 7,860 shares in the last quarter. Mackenzie Financial Corp lifted its position in shares of NetEase by 202.4% during the 3rd quarter. Mackenzie Financial Corp now owns 50,210 shares of the technology company's stock worth $4,962,000 after purchasing an additional 33,607 shares during the last quarter. Finally, Advisor Partners II LLC grew its stake in shares of NetEase by 21.4% during the third quarter. Advisor Partners II LLC now owns 5,022 shares of the technology company's stock worth $503,000 after purchasing an additional 885 shares in the last quarter. Hedge funds and other institutional investors own 11.07% of the company's stock.

NetEase Stock Up 4.1 %

NASDAQ:NTES traded up $4.07 during trading hours on Friday, reaching $103.02. 2,724,344 shares of the company's stock were exchanged, compared to its average volume of 1,456,896. NetEase, Inc. has a 1-year low of $80.79 and a 1-year high of $118.89. The firm has a market capitalization of $66.42 billion, a price-to-earnings ratio of 16.27, a P/E/G ratio of 0.90 and a beta of 0.58. The company has a 50-day moving average of $101.20 and a 200 day moving average of $102.64.

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

NetEase Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Thursday, March 14th were issued a dividend of $1.08 per share. The ex-dividend date of this dividend was Wednesday, March 13th. This is an increase from NetEase's previous quarterly dividend of $0.50. This represents a $4.32 annualized dividend and a dividend yield of 4.19%. NetEase's dividend payout ratio (DPR) is currently 68.09%.

Wall Street Analyst Weigh In

A number of research firms have weighed in on NTES. StockNews.com cut NetEase from a "strong-buy" rating to a "buy" rating in a research note on Monday, April 29th. Morgan Stanley cut their target price on NetEase from $135.00 to $120.00 and set an "overweight" rating on the stock in a research report on Friday, April 12th. Finally, HSBC lowered their price target on NetEase from $130.00 to $126.00 and set a "buy" rating for the company in a report on Wednesday, April 24th. Eight equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock presently has an average rating of "Buy" and a consensus price target of $126.00.

NetEase 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.