SOA Wealth Advisors LLC. Buys Shares of 4,790 NetEase, Inc. $NTES

SOA Wealth Advisors LLC. bought a new position in NetEase, Inc. (NASDAQ:NTES) in the 2nd quarter, Holdings Channel reports. The firm bought 4,790 shares of the technology company’s stock, valued at approximately $614,000.

Other hedge funds have also made changes to their positions in the company. V Square Quantitative Management LLC bought a new position in shares of NetEase during the 1st quarter worth $25,000. Atlas Capital Advisors Inc. bought a new stake in shares of NetEase in the fourth quarter valued at about $47,000. Smartleaf Asset Management LLC raised its holdings in shares of NetEase by 3,381.8% in the second quarter. Smartleaf Asset Management LLC now owns 383 shares of the technology company’s stock valued at $51,000 after acquiring an additional 372 shares in the last quarter. Harbour Investments Inc. lifted its stake in NetEase by 7,480.0% in the fourth quarter. Harbour Investments Inc. now owns 379 shares of the technology company’s stock worth $52,000 after acquiring an additional 374 shares during the period. Finally, MidFirst Bank purchased a new stake in NetEase in the fourth quarter worth about $57,000. 11.07% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at NetEase

In other news, General Counsel Paul William Boltz, Jr. sold 10,000 shares of the firm’s stock in a transaction dated Monday, June 29th. The shares were sold at an average price of $128.30, for a total value of $1,283,000.00. Following the sale, the general counsel directly owned 12,223 shares in the company, valued at approximately $1,568,210.90. This trade represents a 45.00% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 54.70% of the company’s stock.

NetEase Price Performance

Shares of NTES stock opened at $124.11 on Thursday. The stock’s 50-day moving average is $126.51 and its 200 day moving average is $120.84. NetEase, Inc. has a 1-year low of $106.06 and a 1-year high of $159.55. The company has a market cap of $79.46 billion, a P/E ratio of 16.48, a PEG ratio of 1.66 and a beta of 0.73.

NetEase Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, June 18th. Shareholders of record on Friday, June 5th were given a dividend of $0.72 per share. This represents a $2.88 annualized dividend and a dividend yield of 2.3%. The ex-dividend date of this dividend was Friday, June 5th. NetEase’s dividend payout ratio is presently 38.11%.

Analyst Upgrades and Downgrades

NTES has been the topic of a number of research reports. Weiss Ratings downgraded shares of NetEase from a “hold (c+)” rating to a “hold (c)” rating in a research report on Tuesday, August 4th. Wall Street Zen lowered shares of NetEase from a “buy” rating to a “hold” rating in a report on Sunday, August 2nd. Morgan Stanley reaffirmed an “overweight” rating and issued a $158.00 price target on shares of NetEase in a research report on Tuesday, May 26th. The Goldman Sachs Group set a $169.00 price objective on shares of NetEase in a research note on Wednesday, July 1st. Finally, Zacks Research lowered shares of NetEase from a “strong-buy” rating to a “hold” rating in a report on Monday, July 27th. Seven analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $158.38.

NetEase Company Profile

NetEase, Inc (NASDAQ: NTES) is a Chinese technology company headquartered in Hangzhou that develops and operates Internet services and products. Founded in 1997 by William Ding (Ding Lei), the company has grown from an early web portal and e-mail provider into a diversified online services group. William Ding has served as the company’s founder and long-time leader, guiding its expansion into games, digital content and consumer services.

The company’s primary business is interactive entertainment: NetEase Games designs, develops and publishes PC and mobile games for domestic and international audiences, offering a mix of self-developed franchises and titles published under licensing and strategic partnerships.