Brookmont Capital Management Has $3.27 Million Stock Position in NetEase, Inc. $NTES

Brookmont Capital Management lifted its stake in NetEase, Inc. (NASDAQ:NTES) by 137.1% during the 2nd quarter, Holdings Channel reports. The firm owned 25,514 shares of the technology company’s stock after acquiring an additional 14,754 shares during the period. NetEase makes up 1.8% of Brookmont Capital Management’s holdings, making the stock its 19th biggest holding. Brookmont Capital Management’s holdings in NetEase were worth $3,269,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the stock. Mitsubishi UFJ Trust & Banking Corp boosted its holdings in NetEase by 22.1% during the fourth quarter. Mitsubishi UFJ Trust & Banking Corp now owns 67,211 shares of the technology company’s stock worth $9,250,000 after buying an additional 12,173 shares during the last quarter. Institute for Wealth Management LLC. bought a new stake in shares of NetEase in the 4th quarter valued at about $3,491,000. Ninety One North America Inc. raised its position in shares of NetEase by 3.4% in the 4th quarter. Ninety One North America Inc. now owns 500,241 shares of the technology company’s stock valued at $68,843,000 after acquiring an additional 16,496 shares during the period. Lazard Asset Management LLC boosted its stake in NetEase by 64.2% during the 1st quarter. Lazard Asset Management LLC now owns 581,720 shares of the technology company’s stock worth $65,118,000 after acquiring an additional 227,433 shares during the last quarter. Finally, NewEdge Wealth LLC boosted its stake in NetEase by 114.3% during the 1st quarter. NewEdge Wealth LLC now owns 48,068 shares of the technology company’s stock worth $5,381,000 after acquiring an additional 25,634 shares during the last quarter. 11.07% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at NetEase

In related news, General Counsel Paul William Boltz, Jr. sold 10,000 shares of the stock in a transaction dated Monday, June 29th. The stock was sold at an average price of $128.30, for a total transaction of $1,283,000.00. Following the completion of the transaction, 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 54.70% of the stock is owned by corporate insiders.

NetEase Trading Down 1.2%

Shares of NASDAQ NTES opened at $122.65 on Friday. The company has a fifty day moving average price of $126.51 and a 200 day moving average price of $120.77. The firm has a market cap of $78.53 billion, a PE ratio of 16.29, a PEG ratio of 1.61 and a beta of 0.73. NetEase, Inc. has a 1-year low of $106.06 and a 1-year high of $159.55.

NetEase Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 18th. Stockholders 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 currently 38.11%.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on NTES. The Goldman Sachs Group set a $169.00 price objective on shares of NetEase in a report on Wednesday, July 1st. Morgan Stanley reissued an “overweight” rating and set a $158.00 price target on shares of NetEase in a research report on Tuesday, May 26th. Zacks Research cut shares of NetEase from a “strong-buy” rating to a “hold” rating in a research report on Monday, July 27th. Benchmark reissued a “buy” rating on shares of NetEase in a report on Friday, May 22nd. Finally, Wall Street Zen cut shares of NetEase from a “buy” rating to a “hold” rating in a research report on Sunday, August 2nd. Seven analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $158.38.

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.