Russell Investments Group Ltd. Raises Stock Holdings in NetEase, Inc. (NASDAQ:NTES)

Russell Investments Group Ltd. raised its position in shares of NetEase, Inc. (NASDAQ:NTES) by 64.0% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 255,501 shares of the technology company’s stock after buying an additional 99,698 shares during the period. Russell Investments Group Ltd.’s holdings in NetEase were worth $24,710,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Global Retirement Partners LLC raised its holdings in shares of NetEase by 186.6% during the second quarter. Global Retirement Partners LLC now owns 321 shares of the technology company’s stock valued at $31,000 after acquiring an additional 209 shares in the last quarter. CWM LLC raised its holdings in NetEase by 59.9% in the 2nd quarter. CWM LLC now owns 331 shares of the technology company’s stock worth $32,000 after purchasing an additional 124 shares in the last quarter. Pinpoint Asset Management Ltd purchased a new stake in shares of NetEase in the 1st quarter worth about $42,000. Penserra Capital Management LLC boosted its stake in shares of NetEase by 91.1% during the 4th quarter. Penserra Capital Management LLC now owns 837 shares of the technology company’s stock valued at $60,000 after purchasing an additional 399 shares in the last quarter. Finally, Mizuho Securities Co. Ltd. bought a new stake in shares of NetEase during the 2nd quarter valued at about $90,000. Hedge funds and other institutional investors own 11.78% of the company’s stock.

NetEase Stock Performance

Shares of NetEase stock opened at $118.47 on Tuesday. NetEase, Inc. has a 1 year low of $63.25 and a 1 year high of $118.89. The firm’s 50-day moving average is $105.51 and its 200 day moving average is $100.46. The stock has a market cap of $76.38 billion, a price-to-earnings ratio of 20.46, a PEG ratio of 1.12 and a beta of 0.56. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.93 and a quick ratio of 2.91.

NetEase (NASDAQ:NTES) last announced its quarterly earnings results on Thursday, November 16th. The technology company reported $13.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $10.87 by $2.43. NetEase had a return on equity of 23.33% and a net margin of 26.21%. The firm had revenue of $27.27 billion for the quarter, compared to the consensus estimate of $27.26 billion. During the same period in the prior year, the company posted $1.43 earnings per share. The company’s quarterly revenue was up 13.6% on a year-over-year basis. Sell-side analysts anticipate that NetEase, Inc. will post 6.26 EPS for the current fiscal year.

NetEase Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Friday, December 1st will be issued a $0.495 dividend. This represents a $1.98 dividend on an annualized basis and a dividend yield of 1.67%. The ex-dividend date is Thursday, November 30th. NetEase’s payout ratio is 36.10%.

Analysts Set New Price Targets

Several analysts have commented on NTES shares. Bank of America raised their price objective on shares of NetEase from $128.00 to $135.00 and gave the stock a “buy” rating in a report on Friday, August 25th. JPMorgan Chase & Co. lifted their price target on NetEase from $120.00 to $125.00 and gave the company an “overweight” rating in a research report on Tuesday, August 29th. Benchmark raised their price objective on NetEase from $130.00 to $140.00 and gave the company a “buy” rating in a research report on Friday. StockNews.com downgraded shares of NetEase from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, November 14th. Finally, Citigroup decreased their price target on shares of NetEase from $134.00 to $132.00 and set a “buy” rating for the company in a research note on Friday, August 25th. Six equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has an average rating of “Buy” and a consensus target price 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.