MY.Alpha Management HK Advisors Ltd Invests $12.09 Million in NetEase, Inc. $NTES

MY.Alpha Management HK Advisors Ltd purchased a new position in NetEase, Inc. (NASDAQ:NTES) during the fourth quarter, HoldingsChannel reports. The fund purchased 87,871 shares of the technology company’s stock, valued at approximately $12,093,000. NetEase comprises 6.5% of MY.Alpha Management HK Advisors Ltd’s portfolio, making the stock its 8th biggest holding.

Several other hedge funds have also recently bought and sold shares of the company. Main Street Research LLC boosted its position in NetEase by 2.1% during the third quarter. Main Street Research LLC now owns 4,085 shares of the technology company’s stock worth $621,000 after purchasing an additional 85 shares in the last quarter. Allworth Financial LP grew its holdings in NetEase by 15.2% in the third quarter. Allworth Financial LP now owns 718 shares of the technology company’s stock valued at $109,000 after purchasing an additional 95 shares during the last quarter. Arkadios Wealth Advisors increased its position in shares of NetEase by 5.9% in the fourth quarter. Arkadios Wealth Advisors now owns 1,859 shares of the technology company’s stock valued at $256,000 after buying an additional 103 shares in the last quarter. Spire Wealth Management increased its position in shares of NetEase by 31.3% in the fourth quarter. Spire Wealth Management now owns 436 shares of the technology company’s stock valued at $60,000 after buying an additional 104 shares in the last quarter. Finally, Cookson Peirce & Co. Inc. raised its stake in shares of NetEase by 2.2% during the 4th quarter. Cookson Peirce & Co. Inc. now owns 4,961 shares of the technology company’s stock worth $683,000 after buying an additional 106 shares during the last quarter. 11.07% of the stock is owned by hedge funds and other institutional investors.

NetEase Stock Performance

NetEase stock opened at $121.33 on Friday. The stock has a 50-day moving average price of $118.04 and a 200 day moving average price of $123.94. NetEase, Inc. has a 52 week low of $106.06 and a 52 week high of $159.55. The stock has a market cap of $77.46 billion, a PE ratio of 16.11, a P/E/G ratio of 1.57 and a beta of 0.72.

NetEase Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, June 18th. Stockholders of record on Friday, June 5th were issued a dividend of $0.72 per share. The ex-dividend date was Friday, June 5th. This represents a $2.88 dividend on an annualized basis and a dividend yield of 2.4%. NetEase’s payout ratio is 38.11%.

Analysts Set New Price Targets

Several equities research analysts recently commented on NTES shares. Zacks Research upgraded shares of NetEase from a “hold” rating to a “strong-buy” rating in a research report on Monday, June 8th. Morgan Stanley restated an “overweight” rating and set a $158.00 target price on shares of NetEase in a report on Tuesday, May 26th. Wall Street Zen cut shares of NetEase from a “buy” rating to a “hold” rating in a research report on Saturday. Finally, Benchmark reaffirmed a “buy” rating on shares of NetEase in a report on Friday, May 22nd. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $157.38.

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.