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

Brookmont Capital Management lifted its position in NetEase, Inc. (NASDAQ:NTES) by 137.1% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 25,514 shares of the technology company’s stock after purchasing an additional 14,754 shares during the quarter. NetEase accounts for approximately 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 reporting period.

Other hedge funds have also made changes to their positions in the company. Arkadios Wealth Advisors lifted its holdings in NetEase by 5.9% during the 4th quarter. Arkadios Wealth Advisors now owns 1,859 shares of the technology company’s stock valued at $256,000 after purchasing an additional 103 shares during the last quarter. Cookson Peirce & Co. Inc. grew its stake in NetEase by 2.2% during the fourth 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. EverSource Wealth Advisors LLC increased its holdings in shares of NetEase by 16.0% during the first quarter. EverSource Wealth Advisors LLC now owns 777 shares of the technology company’s stock worth $87,000 after buying an additional 107 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of NetEase by 10.7% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,119 shares of the technology company’s stock worth $154,000 after buying an additional 108 shares in the last quarter. Finally, Mission Wealth Management LP increased its holdings in shares of NetEase by 4.4% during the second quarter. Mission Wealth Management LP now owns 2,631 shares of the technology company’s stock worth $337,000 after buying an additional 110 shares in the last quarter. Institutional investors and hedge funds own 11.07% of the company’s stock.

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 transaction of $1,283,000.00. Following the transaction, the general counsel directly owned 12,223 shares in the company, valued at approximately $1,568,210.90. This represents a 45.00% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 54.70% of the company’s stock.

Analysts Set New Price Targets

NTES has been the topic of several recent analyst reports. Zacks Research downgraded NetEase from a “strong-buy” rating to a “hold” rating in a report on Monday, July 27th. Morgan Stanley reaffirmed an “overweight” rating and set a $158.00 price target on shares of NetEase in a report on Tuesday, May 26th. Benchmark reiterated a “buy” rating on shares of NetEase in a research report on Friday, May 22nd. Wall Street Zen lowered NetEase from a “buy” rating to a “hold” rating in a research note on Sunday, August 2nd. Finally, Weiss Ratings cut NetEase from a “hold (c+)” rating to a “hold (c)” rating in a report on Tuesday, August 4th. Seven research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $158.38.

NetEase Stock Performance

Shares of NTES opened at $122.65 on Friday. The business’s fifty day moving average price is $126.51 and its two-hundred day moving average price is $120.77. The firm has a market capitalization of $78.53 billion, a price-to-earnings ratio of 16.29, a PEG ratio of 1.61 and a beta of 0.73. NetEase, Inc. has a 52 week low of $106.06 and a 52 week high of $159.55.

NetEase Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 18th. Investors of record on Friday, June 5th were given a $0.72 dividend. This represents a $2.88 dividend on an annualized basis and a yield of 2.3%. The ex-dividend date was Friday, June 5th. NetEase’s dividend payout ratio (DPR) is presently 38.11%.

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.