B. Riley Wealth Advisors Inc. Has $284,000 Stock Holdings in NetApp, Inc. (NASDAQ:NTAP)

B. Riley Wealth Advisors Inc. decreased its holdings in NetApp, Inc. (NASDAQ:NTAP) by 7.8% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 3,218 shares of the data storage provider’s stock after selling 271 shares during the period. B. Riley Wealth Advisors Inc.’s holdings in NetApp were worth $284,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. ORG Partners LLC increased its stake in shares of NetApp by 14,650.0% in the 4th quarter. ORG Partners LLC now owns 295 shares of the data storage provider’s stock valued at $26,000 after purchasing an additional 293 shares during the last quarter. First Horizon Advisors Inc. increased its stake in shares of NetApp by 58.7% in the 4th quarter. First Horizon Advisors Inc. now owns 311 shares of the data storage provider’s stock valued at $27,000 after purchasing an additional 115 shares during the last quarter. UMB Bank n.a. increased its stake in shares of NetApp by 82.9% in the 4th quarter. UMB Bank n.a. now owns 331 shares of the data storage provider’s stock valued at $29,000 after purchasing an additional 150 shares during the last quarter. Planned Solutions Inc. bought a new stake in NetApp during the 4th quarter worth $34,000. Finally, Headinvest LLC bought a new stake in NetApp during the 3rd quarter worth $38,000. Institutional investors own 92.17% of the company’s stock.

NetApp Stock Up 0.5 %

Shares of NASDAQ:NTAP opened at $128.43 on Thursday. The company has a market capitalization of $26.43 billion, a price-to-earnings ratio of 27.68, a P/E/G ratio of 5.17 and a beta of 1.25. The company has a debt-to-equity ratio of 1.74, a current ratio of 1.19 and a quick ratio of 1.15. The business’s 50-day moving average is $113.61 and its 200-day moving average is $100.63. NetApp, Inc. has a 1 year low of $70.82 and a 1 year high of $130.87.

NetApp (NASDAQ:NTAP) last announced its quarterly earnings data on Thursday, May 30th. The data storage provider reported $1.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.48 by $0.32. The company had revenue of $1.67 billion for the quarter, compared to the consensus estimate of $1.65 billion. NetApp had a return on equity of 114.54% and a net margin of 15.73%. The firm’s revenue was up 5.5% compared to the same quarter last year. During the same period in the previous year, the business earned $1.20 EPS. Equities research analysts predict that NetApp, Inc. will post 5.47 earnings per share for the current year.

NetApp Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 24th. Investors of record on Friday, July 5th will be paid a dividend of $0.52 per share. This is an increase from NetApp’s previous quarterly dividend of $0.50. This represents a $2.08 dividend on an annualized basis and a yield of 1.62%. The ex-dividend date is Friday, July 5th. NetApp’s dividend payout ratio is 44.83%.

NetApp announced that its Board of Directors has approved a share repurchase program on Thursday, May 30th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the data storage provider to purchase up to 4% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its stock is undervalued.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on NTAP shares. Wells Fargo & Company boosted their price objective on NetApp from $120.00 to $135.00 and gave the stock an “equal weight” rating in a research report on Wednesday, June 12th. Evercore ISI boosted their price objective on NetApp from $95.00 to $105.00 and gave the stock an “in-line” rating in a research report on Friday, March 1st. UBS Group boosted their price objective on NetApp from $93.00 to $96.00 and gave the stock a “neutral” rating in a research report on Friday, March 1st. Susquehanna boosted their price objective on NetApp from $138.00 to $155.00 and gave the stock a “positive” rating in a research report on Wednesday, June 12th. Finally, Wedbush restated a “neutral” rating and set a $120.00 price objective on shares of NetApp in a research report on Wednesday, June 12th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $117.81.

Insider Buying and Selling

In related news, Director Thomas Michael Nevens sold 3,334 shares of the company’s stock in a transaction that occurred on Friday, June 21st. The stock was sold at an average price of $127.33, for a total transaction of $424,518.22. Following the transaction, the director now directly owns 11,455 shares of the company’s stock, valued at approximately $1,458,565.15. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other NetApp news, EVP Elizabeth M. O’callahan sold 871 shares of the business’s stock in a transaction that occurred on Wednesday, April 10th. The stock was sold at an average price of $103.02, for a total transaction of $89,730.42. Following the completion of the sale, the executive vice president now directly owns 9,601 shares of the company’s stock, valued at approximately $989,095.02. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Thomas Michael Nevens sold 3,334 shares of the business’s stock in a transaction that occurred on Friday, June 21st. The stock was sold at an average price of $127.33, for a total value of $424,518.22. Following the sale, the director now directly owns 11,455 shares of the company’s stock, valued at $1,458,565.15. The disclosure for this sale can be found here. In the last three months, insiders have sold 12,705 shares of company stock valued at $1,391,109. 0.37% of the stock is owned by company insiders.

NetApp Profile

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.