SOA Wealth Advisors LLC. Takes $614,000 Position in NetEase, Inc. $NTES

SOA Wealth Advisors LLC. purchased a new stake in shares of NetEase, Inc. (NASDAQ:NTES) during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 4,790 shares of the technology company’s stock, valued at approximately $614,000.

A number of other institutional investors also recently bought and sold shares of the stock. V Square Quantitative Management LLC bought a new position in NetEase during the first quarter valued at $25,000. Atlas Capital Advisors Inc. purchased a new stake in shares of NetEase in the fourth quarter valued at $47,000. Smartleaf Asset Management LLC lifted its holdings in shares of NetEase by 3,381.8% in the 2nd quarter. Smartleaf Asset Management LLC now owns 383 shares of the technology company’s stock worth $51,000 after acquiring an additional 372 shares during the last quarter. Harbour Investments Inc. lifted its holdings in shares of NetEase by 7,480.0% in the 4th 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 last quarter. Finally, MidFirst Bank purchased a new position in shares of NetEase during the 4th quarter worth about $57,000. 11.07% of the stock is currently owned by institutional investors.

NetEase Trading Down 3.0%

Shares of NTES opened at $124.11 on Thursday. The firm has a fifty day moving average price of $126.51 and a 200-day moving average price of $120.84. The firm has a market capitalization of $79.46 billion, a P/E ratio of 16.48, a P/E/G ratio of 1.66 and a beta of 0.73. NetEase, Inc. has a 12-month low of $106.06 and a 12-month high of $159.55.

NetEase Cuts Dividend

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

Wall Street Analyst Weigh In

Several equities analysts recently commented on NTES shares. Weiss Ratings downgraded shares of NetEase from a “hold (c+)” rating to a “hold (c)” rating in a report on Tuesday, August 4th. Wall Street Zen lowered NetEase from a “buy” rating to a “hold” rating in a research report on Sunday, August 2nd. The Goldman Sachs Group set a $169.00 target price on NetEase in a research note on Wednesday, July 1st. Benchmark reiterated a “buy” rating on shares of NetEase in a report on Friday, May 22nd. Finally, Morgan Stanley reissued an “overweight” rating and set a $158.00 price target on shares of NetEase in a research note on Tuesday, May 26th. Seven analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $158.38.

Insider Transactions at NetEase

In other NetEase news, General Counsel Paul William Boltz, Jr. sold 10,000 shares of the company’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 transaction, the general counsel directly owned 12,223 shares in the company, valued at $1,568,210.90. This represents a 45.00% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 54.70% of the stock is currently owned by company insiders.

About NetEase

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.