Russell Investments Group Ltd. Sells 200,081 Shares of NetEase, Inc. $NTES

Russell Investments Group Ltd. lowered its stake in NetEase, Inc. (NASDAQ:NTES) by 63.2% during the first quarter, Holdings Channel.com reports. The fund owned 116,689 shares of the technology company’s stock after selling 200,081 shares during the period. Russell Investments Group Ltd.’s holdings in NetEase were worth $12,010,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of NTES. Mather Group LLC. raised its stake in shares of NetEase by 1,415.0% during the 1st quarter. Mather Group LLC. now owns 303 shares of the technology company’s stock worth $31,000 after purchasing an additional 283 shares in the last quarter. TD Private Client Wealth LLC bought a new stake in NetEase during the first quarter worth $65,000. Farther Finance Advisors LLC lifted its stake in NetEase by 191.7% in the first quarter. Farther Finance Advisors LLC now owns 986 shares of the technology company’s stock valued at $105,000 after acquiring an additional 648 shares during the last quarter. Allianz SE bought a new position in shares of NetEase in the 1st quarter valued at about $110,000. Finally, Greykasell Wealth Strategies Inc. bought a new position in shares of NetEase in the 1st quarter valued at about $144,000. Institutional investors own 11.07% of the company’s stock.

NetEase Stock Down 0.3%

Shares of NetEase stock opened at $129.22 on Monday. NetEase, Inc. has a 12-month low of $75.85 and a 12-month high of $141.45. The company has a market capitalization of $81.87 billion, a price-to-earnings ratio of 17.49, a PEG ratio of 4.48 and a beta of 0.67. The firm’s 50-day moving average price is $132.01 and its two-hundred day moving average price is $115.05.

NetEase Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 11th. Shareholders of record on Thursday, August 28th will be given a dividend of $0.675 per share. This represents a $2.70 annualized dividend and a yield of 2.1%. The ex-dividend date is Thursday, August 28th. NetEase’s payout ratio is currently 36.40%.

Wall Street Analyst Weigh In

NTES has been the subject of several recent analyst reports. JPMorgan Chase & Co. downgraded shares of NetEase from an “overweight” rating to a “neutral” rating and raised their target price for the company from $135.00 to $140.00 in a research note on Monday, July 28th. Barclays raised their price objective on NetEase from $104.00 to $118.00 and gave the company an “equal weight” rating in a research report on Friday, May 16th. Wall Street Zen lowered NetEase from a “strong-buy” rating to a “buy” rating in a report on Saturday. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on shares of NetEase in a research note on Monday, May 12th. They issued a “buy” rating and a $130.00 price target on the stock. Two analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, NetEase has an average rating of “Moderate Buy” and a consensus price target of $120.00.

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.