NetApp Inc. (NTAP) To Go Ex-Dividend on October 5th
NetApp Inc. (NASDAQ:NTAP) announced a quarterly dividend on Wednesday, August 17th. Shareholders of record on Friday, October 7th will be paid a dividend of 0.19 per share by the data storage provider on Wednesday, October 26th. This represents a $0.76 dividend on an annualized basis and a yield of 2.19%. The ex-dividend date of this dividend is Wednesday, October 5th.
Shares of NetApp (NASDAQ:NTAP) opened at 34.73 on Friday. The firm has a 50-day moving average price of $34.09 and a 200-day moving average price of $27.42. NetApp has a 12 month low of $20.66 and a 12 month high of $36.10. The company has a market capitalization of $9.68 billion, a PE ratio of 31.26 and a beta of 1.56.
NetApp (NASDAQ:NTAP) last released its quarterly earnings data on Wednesday, August 17th. The data storage provider reported $0.46 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.36 by $0.10. NetApp had a return on equity of 15.82% and a net margin of 5.87%. The company earned $1.29 billion during the quarter, compared to analysts’ expectations of $1.26 billion. During the same period last year, the firm posted $0.29 earnings per share. The business’s revenue was down 3.1% on a year-over-year basis. On average, equities research analysts predict that NetApp will post $2.36 EPS for the current year.
In other news, CEO George Kurian sold 48,176 shares of the business’s stock in a transaction dated Friday, August 26th. The stock was sold at an average price of $34.87, for a total value of $1,679,897.12. Following the transaction, the chief executive officer now directly owns 92,746 shares of the company’s stock, valued at approximately $3,234,053.02. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Robert T. Wall sold 22,944 shares of the business’s stock in a transaction dated Tuesday, September 27th. The shares were sold at an average price of $35.45, for a total value of $813,364.80. Following the completion of the transaction, the director now directly owns 36,048 shares in the company, valued at $1,277,901.60. The disclosure for this sale can be found here. 0.49% of the stock is owned by insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. American Century Companies Inc. increased its position in shares of NetApp by 166.9% in the second quarter. American Century Companies Inc. now owns 1,231,440 shares of the data storage provider’s stock worth $30,281,000 after buying an additional 770,067 shares in the last quarter. BlackRock Investment Management LLC increased its position in NetApp by 2.0% in the second quarter. BlackRock Investment Management LLC now owns 628,858 shares of the data storage provider’s stock worth $15,464,000 after buying an additional 12,381 shares during the period. BlackRock Inc. increased its position in NetApp by 169.9% in the second quarter. BlackRock Inc. now owns 1,397,104 shares of the data storage provider’s stock worth $34,354,000 after buying an additional 879,433 shares during the period. BlackRock Fund Advisors increased its position in NetApp by 2.2% in the second quarter. BlackRock Fund Advisors now owns 4,858,631 shares of the data storage provider’s stock worth $119,474,000 after buying an additional 102,317 shares during the period. Finally, BlackRock Group LTD increased its position in NetApp by 9.5% in the second quarter. BlackRock Group LTD now owns 2,931,987 shares of the data storage provider’s stock worth $72,099,000 after buying an additional 253,174 shares during the period. 89.54% of the stock is currently owned by institutional investors.
NTAP has been the subject of a number of recent analyst reports. RBC Capital Markets raised their price objective on NetApp to $32.00 in a research report on Thursday, August 18th. DA Davidson reaffirmed a “buy” rating and issued a $35.00 price objective on shares of NetApp in a research report on Monday, August 15th. Maxim Group raised their price objective on NetApp from $39.00 to $40.00 and gave the company a “buy” rating in a research report on Monday, August 15th. Cross Research raised NetApp from a “hold” rating to a “buy” rating in a research report on Monday. Finally, Susquehanna set a $42.00 price objective on NetApp and gave the company a “buy” rating in a research report on Wednesday. Eleven analysts have rated the stock with a sell rating, twenty-three have given a hold rating and five have given a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $29.64.
NetApp, Inc (NetApp) provides software, systems and services to manage and store customer data. The Company enables enterprises, service providers, governmental organizations, and partners to envision, deploy and evolve their information technology (IT) environments. The Company offers a portfolio of products and services that satisfy a range of customer workloads across different data types and deployment models.
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