Russell Investments Group Ltd. Sells 35,078 Shares of NetEase, Inc. (NASDAQ:NTES)

Russell Investments Group Ltd. lowered its stake in NetEase, Inc. (NASDAQ:NTES) by 16.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 180,889 shares of the technology company’s stock after selling 35,078 shares during the period. Russell Investments Group Ltd.’s holdings in NetEase were worth $16,852,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Private Trust Co. NA grew its holdings in shares of NetEase by 418.9% during the 4th quarter. Private Trust Co. NA now owns 275 shares of the technology company’s stock worth $26,000 after acquiring an additional 222 shares during the period. Chilton Capital Management LLC bought a new position in NetEase in the fourth quarter worth $37,000. Headlands Technologies LLC purchased a new position in NetEase during the third quarter valued at $56,000. Huntington National Bank grew its position in shares of NetEase by 31.4% in the 3rd quarter. Huntington National Bank now owns 678 shares of the technology company’s stock worth $68,000 after buying an additional 162 shares during the period. Finally, CVA Family Office LLC bought a new position in shares of NetEase in the 4th quarter worth about $65,000. 11.07% of the stock is owned by hedge funds and other institutional investors.

NetEase Trading Up 4.1 %

NTES stock opened at $103.02 on Friday. The stock’s 50 day simple moving average is $101.31 and its 200 day simple moving average is $102.66. NetEase, Inc. has a 12-month low of $80.79 and a 12-month high of $118.89. The stock has a market capitalization of $66.42 billion, a PE ratio of 16.27, a price-to-earnings-growth ratio of 0.90 and a beta of 0.58.

NetEase (NASDAQ:NTES) last announced its quarterly earnings results on Thursday, February 29th. The technology company reported $1.42 earnings per share (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 business had revenue of $3.82 billion for the quarter, compared to the consensus estimate of $3.96 billion. On average, research analysts predict that NetEase, Inc. will post 7.04 earnings per share for the current year.

NetEase Increases Dividend

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

Analysts Set New Price Targets

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

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.