NetApp, Inc. (NTAP) to Issue Quarterly Dividend of $0.52 on April 22nd

NetApp, Inc. (NASDAQ:NTAP) announced a quarterly dividend on Thursday, February 26th. Investors of record on Friday, April 3rd will be given a dividend of 0.52 per share by the data storage provider on Wednesday, April 22nd. This represents a c) annualized dividend and a yield of 2.1%. The ex-dividend date of this dividend is Thursday, April 2nd.

NetApp has increased its dividend payment by an average of 0.0%annually over the last three years and has increased its dividend annually for the last 1 consecutive years. NetApp has a payout ratio of 24.6% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect NetApp to earn $6.43 per share next year, which means the company should continue to be able to cover its $2.08 annual dividend with an expected future payout ratio of 32.3%.

NetApp Stock Down 0.1%

NASDAQ:NTAP opened at $99.03 on Friday. NetApp has a 52 week low of $71.84 and a 52 week high of $126.66. The stock’s fifty day moving average is $103.14 and its two-hundred day moving average is $111.27. The stock has a market capitalization of $19.61 billion, a price-to-earnings ratio of 16.56, a price-to-earnings-growth ratio of 3.44 and a beta of 1.38. The company has a quick ratio of 1.30, a current ratio of 1.34 and a debt-to-equity ratio of 2.52.

NetApp (NASDAQ:NTAP) last posted its quarterly earnings data on Thursday, February 26th. The data storage provider reported $2.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.07 by $0.05. NetApp had a return on equity of 122.76% and a net margin of 18.07%.The firm had revenue of $1.71 billion for the quarter, compared to the consensus estimate of $1.70 billion. During the same quarter in the previous year, the business earned $1.91 EPS. The company’s quarterly revenue was up 4.4% compared to the same quarter last year. NetApp has set its Q4 2026 guidance at 2.210-2.310 EPS and its FY 2026 guidance at 7.920-8.020 EPS. Research analysts anticipate that NetApp will post 5.89 EPS for the current year.

Insider Activity at NetApp

In other news, EVP Elizabeth M. O’callahan sold 1,000 shares of the firm’s stock in a transaction dated Tuesday, February 10th. The stock was sold at an average price of $103.45, for a total transaction of $103,450.00. Following the sale, the executive vice president owned 20,075 shares of the company’s stock, valued at approximately $2,076,758.75. This trade represents a 4.74% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.28% of the company’s stock.

Hedge Funds Weigh In On NetApp

Hedge funds have recently made changes to their positions in the company. Abich Financial Wealth Management LLC acquired a new position in NetApp in the 3rd quarter valued at about $27,000. Rossby Financial LCC grew its stake in shares of NetApp by 105.5% in the 3rd quarter. Rossby Financial LCC now owns 224 shares of the data storage provider’s stock valued at $27,000 after purchasing an additional 115 shares during the last quarter. Park Square Financial Group LLC increased its holdings in shares of NetApp by 68.7% in the fourth quarter. Park Square Financial Group LLC now owns 253 shares of the data storage provider’s stock valued at $29,000 after purchasing an additional 103 shares during the period. Gen Wealth Partners Inc purchased a new stake in shares of NetApp during the fourth quarter worth approximately $30,000. Finally, DV Equities LLC acquired a new stake in shares of NetApp during the fourth quarter worth $30,000. Hedge funds and other institutional investors own 92.17% of the company’s stock.

About NetApp

NetApp, Inc (NASDAQ: NTAP) is a data management and storage company that delivers hybrid cloud data services for applications and data. Founded in 1992 as Network Appliance and rebranded as NetApp in 2008, the company is headquartered in Sunnyvale, California. NetApp’s offering focuses on enabling organizations to store, manage, protect and move data across on-premises environments and major public clouds.

The company’s product portfolio centers on the ONTAP data management software and a range of storage systems and services built around it.