Potomac Fund Management Inc. ADV Invests $592,000 in NetEase, Inc. $NTES

Potomac Fund Management Inc. ADV acquired a new position in shares of NetEase, Inc. (NASDAQ:NTES) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 4,299 shares of the technology company’s stock, valued at approximately $592,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in NTES. Atlas Capital Advisors Inc. bought a new position in shares of NetEase during the 4th quarter worth about $47,000. Smartleaf Asset Management LLC lifted its holdings in shares of NetEase by 3,381.8% during 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 period. Harbour Investments Inc. lifted its holdings in shares of NetEase by 7,480.0% during 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 period. Spire Wealth Management lifted its holdings in shares of NetEase by 31.3% during the 4th quarter. Spire Wealth Management now owns 436 shares of the technology company’s stock worth $60,000 after acquiring an additional 104 shares during the period. Finally, Strs Ohio bought a new position in shares of NetEase during the 1st quarter worth about $63,000. 11.07% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on NTES shares. Zacks Research raised shares of NetEase from a “hold” rating to a “strong-buy” rating in a report on Monday, June 8th. Morgan Stanley reaffirmed an “overweight” rating and set a $158.00 price objective on shares of NetEase in a report on Tuesday, May 26th. Wall Street Zen raised shares of NetEase from a “hold” rating to a “buy” rating in a report on Saturday, May 23rd. 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 data from MarketBeat, NetEase has a consensus rating of “Moderate Buy” and a consensus target price of $157.38.

NetEase Price Performance

Shares of NTES stock opened at $125.82 on Monday. NetEase, Inc. has a 12-month low of $106.06 and a 12-month high of $159.55. The company has a market capitalization of $80.33 billion, a P/E ratio of 16.71, a P/E/G ratio of 1.63 and a beta of 0.72. The firm has a 50-day moving average price of $117.11 and a 200 day moving average price of $124.40.

NetEase Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 18th. Investors of record on Friday, June 5th will be issued a dividend of $0.72 per share. This represents a $2.88 annualized dividend and a yield of 2.3%. The ex-dividend date of this dividend is Friday, June 5th. NetEase’s dividend payout ratio (DPR) is currently 38.11%.

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.