NetApp, Inc. Plans Quarterly Dividend of $0.52 (NASDAQ:NTAP)

by · The Markets Daily

NetApp, Inc. (NASDAQ:NTAP – Get Free Report) announced a quarterly dividend on Tuesday, November 25th. Investors of record on Friday, January 2nd will be given a dividend of 0.52 per share by the data storage provider on Wednesday, January 21st. This represents a c) annualized dividend and a yield of 1.9%. The ex-dividend date of this dividend is Friday, January 2nd.

NetApp has increased its dividend by an average of 0.0%annually over the last three years and has increased its dividend every year for the last 1 years. NetApp has a dividend payout ratio of 24.6% meaning its dividend is sufficiently covered by earnings. 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 3.4%

NASDAQ NTAP traded down $3.81 during trading hours on Wednesday, reaching $107.67. 827,575 shares of the company traded hands, compared to its average volume of 2,049,054. The company has a 50 day moving average of $116.41 and a two-hundred day moving average of $110.17. The stock has a market capitalization of $21.49 billion, a PE ratio of 18.97, a PEG ratio of 2.48 and a beta of 1.46. NetApp has a 12 month low of $71.84 and a 12 month high of $131.30. The company has a current ratio of 1.31, a quick ratio of 1.28 and a debt-to-equity ratio of 2.55.

NetApp (NASDAQ:NTAP – Get Free Report) last issued its quarterly earnings results on Tuesday, November 25th. The data storage provider reported $2.05 EPS for the quarter, topping the consensus estimate of $1.89 by $0.16. NetApp had a net margin of 17.77% and a return on equity of 123.24%. The business had revenue of $1.71 billion for the quarter, compared to analysts’ expectations of $1.69 billion. During the same quarter last year, the company posted $1.87 earnings per share. The company’s quarterly revenue was up 2.8% compared to the same quarter last year. NetApp has set its FY 2026 guidance at 7.750-8.050 EPS. Q3 2026 guidance at 2.010-2.110 EPS. As a group, equities analysts expect that NetApp will post 5.89 earnings per share for the current year.

Insider Activity

In other NetApp news, CEO George Kurian sold 8,750 shares of the firm’s stock in a transaction dated Wednesday, September 17th. The stock was sold at an average price of $122.91, for a total transaction of $1,075,462.50. Following the completion of the sale, the chief executive officer directly owned 274,938 shares in the company, valued at approximately $33,792,629.58. This trade represents a 3.08% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Elizabeth M. O’callahan sold 1,000 shares of the firm’s stock in a transaction that occurred on Wednesday, September 10th. The stock was sold at an average price of $123.67, for a total transaction of $123,670.00. Following the sale, the executive vice president owned 23,628 shares of the company’s stock, valued at approximately $2,922,074.76. This represents a 4.06% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 12,183 shares of company stock worth $1,483,361. 0.28% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of NTAP. Ascent Group LLC grew its stake in shares of NetApp by 1.5% in the 3rd quarter. Ascent Group LLC now owns 6,084 shares of the data storage provider’s stock valued at $721,000 after buying an additional 90 shares in the last quarter. Caliber Wealth Management LLC KS grew its position in NetApp by 5.0% in the third quarter. Caliber Wealth Management LLC KS now owns 2,100 shares of the data storage provider’s stock worth $249,000 after acquiring an additional 100 shares in the last quarter. Parkside Financial Bank & Trust increased its stake in shares of NetApp by 19.2% during the 2nd quarter. Parkside Financial Bank & Trust now owns 647 shares of the data storage provider’s stock worth $69,000 after purchasing an additional 104 shares during the last quarter. Frank Rimerman Advisors LLC raised its holdings in shares of NetApp by 2.0% during the 3rd quarter. Frank Rimerman Advisors LLC now owns 5,526 shares of the data storage provider’s stock valued at $655,000 after purchasing an additional 106 shares in the last quarter. Finally, Horizon Investments LLC lifted its stake in shares of NetApp by 3.8% in the 1st quarter. Horizon Investments LLC now owns 2,919 shares of the data storage provider’s stock valued at $255,000 after purchasing an additional 107 shares during the last quarter. 92.17% of the stock is owned by institutional investors and hedge funds.

About NetApp

(Get Free Report)

NetApp, Inc provides cloud-led and data-centric services to manage and share data on-premises, and private and public clouds worldwide. It operates in two segments, Hybrid Cloud and Public Could. The company offers intelligent data management software, such as NetApp ONTAP, NetApp Snapshot, NetApp SnapCenter Backup Management, NetApp SnapMirror Data Replication, NetApp SnapLock Data Compliance, and storage infrastructure solutions, including NetApp All-Flash FAS series, NetApp Fabric Attached Storage, NetApp E/EF series, and NetApp StorageGRID.

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