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

NetApp, Inc. (NASDAQ:NTAP) declared 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 dividend 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%per year over the last three years and has raised its dividend every year for the last 1 years. NetApp has a payout ratio of 24.6% indicating that 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 Trading Down 1.1%

NASDAQ:NTAP opened at $101.18 on Tuesday. NetApp has a 52 week low of $71.84 and a 52 week high of $126.66. The firm has a 50 day moving average of $100.46 and a 200 day moving average of $109.33. The company has a quick ratio of 1.36, a current ratio of 1.39 and a debt-to-equity ratio of 2.15. The stock has a market capitalization of $19.97 billion, a price-to-earnings ratio of 16.92, a PEG ratio of 3.17 and a beta of 1.39.

NetApp (NASDAQ:NTAP) last announced its earnings results on Thursday, February 26th. The data storage provider reported $2.12 earnings per share for the quarter, beating the consensus estimate of $2.07 by $0.05. The company had revenue of $1.71 billion during the quarter, compared to the consensus estimate of $1.70 billion. NetApp had a net margin of 18.07% and a return on equity of 118.11%. NetApp’s revenue was up 4.4% compared to the same quarter last year. During the same period last year, the firm earned $1.91 earnings per share. NetApp has set its Q4 2026 guidance at 2.210-2.310 EPS and its FY 2026 guidance at 7.920-8.020 EPS. As a group, sell-side analysts anticipate that NetApp will post 5.89 earnings per share for the current fiscal year.

Insider Buying and Selling at NetApp

In other news, EVP Elizabeth M. O’callahan sold 1,000 shares of the business’s stock in a transaction on Tuesday, March 10th. The shares were sold at an average price of $100.67, for a total transaction of $100,670.00. Following the sale, the executive vice president directly owned 20,382 shares of the company’s stock, valued at $2,051,855.94. The trade was a 4.68% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders have sold 3,000 shares of company stock worth $309,610 over the last 90 days. 0.28% of the stock is owned by insiders.

Institutional Trading of NetApp

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Hsbc Holdings PLC grew its stake in NetApp by 30.6% during the 4th quarter. Hsbc Holdings PLC now owns 845,036 shares of the data storage provider’s stock valued at $90,556,000 after purchasing an additional 197,922 shares during the last quarter. Rockefeller Capital Management L.P. raised its stake in shares of NetApp by 87.5% in the fourth quarter. Rockefeller Capital Management L.P. now owns 40,967 shares of the data storage provider’s stock worth $4,387,000 after purchasing an additional 19,113 shares during the last quarter. Corient Private Wealth LLC lifted its holdings in shares of NetApp by 4.3% during the fourth quarter. Corient Private Wealth LLC now owns 50,360 shares of the data storage provider’s stock worth $5,393,000 after purchasing an additional 2,069 shares during the period. Caitong International Asset Management Co. Ltd boosted its position in NetApp by 1,371.0% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 2,692 shares of the data storage provider’s stock valued at $288,000 after buying an additional 2,509 shares during the last quarter. Finally, Tobam boosted its position in NetApp by 854.7% in the fourth quarter. Tobam now owns 8,926 shares of the data storage provider’s stock valued at $956,000 after buying an additional 7,991 shares during the last quarter. Institutional investors and hedge funds 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.