TD Asset Management Inc Has $156.07 Million Stake in NetApp, Inc. (NASDAQ:NTAP)

Key Points

• TD Asset Management Inc increased its stake in NetApp, owning approximately 0.87% worth $156 million after acquiring 6,519 shares in the first quarter.
• Various institutional investors have also significantly altered their positions in NetApp, with Itau Unibanco raising its holdings by 929.6% in the fourth quarter.
• NetApp announced a quarterly dividend of $0.52, yielding 1.98% annually, with a payout ratio of 36.62%.

TD Asset Management Inc increased its position in shares of NetApp, Inc. (NASDAQ:NTAP - Free Report) by 0.4% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,776,745 shares of the data storage provider's stock after acquiring an additional 6,519 shares during the quarter. TD Asset Management Inc owned about 0.87% of NetApp worth $156,069,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. American Century Companies Inc. lifted its stake in NetApp by 204.1% in the fourth quarter. American Century Companies Inc. now owns 197,240 shares of the data storage provider's stock valued at $22,896,000 after buying an additional 132,370 shares during the period. LPL Financial LLC lifted its stake in NetApp by 28.4% in the fourth quarter. LPL Financial LLC now owns 92,451 shares of the data storage provider's stock valued at $10,732,000 after buying an additional 20,448 shares during the period. Korea Investment CORP lifted its stake in NetApp by 40.5% in the fourth quarter. Korea Investment CORP now owns 156,306 shares of the data storage provider's stock valued at $18,144,000 after buying an additional 45,076 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in NetApp by 9.5% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 359,455 shares of the data storage provider's stock valued at $42,035,000 after buying an additional 31,308 shares during the period. Finally, Elo Mutual Pension Insurance Co lifted its stake in NetApp by 28.2% in the fourth quarter. Elo Mutual Pension Insurance Co now owns 23,437 shares of the data storage provider's stock valued at $2,721,000 after buying an additional 5,156 shares during the period. Institutional investors and hedge funds own 92.17% of the company's stock.

Insider Buying and Selling at NetApp

In other NetApp news, CAO Lorenzo Daniel De sold 302 shares of the firm's stock in a transaction that occurred on Tuesday, June 3rd. The stock was sold at an average price of $98.77, for a total value of $29,828.54. Following the completion of the transaction, the chief accounting officer directly owned 455 shares in the company, valued at $44,940.35. This trade represents a 39.89% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Elizabeth M. O'callahan sold 1,000 shares of the firm's stock in a transaction that occurred on Thursday, July 10th. The shares were sold at an average price of $106.84, for a total value of $106,840.00. Following the completion of the sale, the executive vice president directly owned 24,251 shares of the company's stock, valued at approximately $2,590,976.84. The trade was a 3.96% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 18,302 shares of company stock worth $1,920,479 over the last ninety days. 0.47% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. Barclays increased their target price on NetApp from $115.00 to $117.00 and gave the company an "overweight" rating in a research note on Friday, May 30th. Wells Fargo & Company cut their price objective on NetApp from $115.00 to $100.00 and set an "equal weight" rating on the stock in a report on Friday, May 30th. JPMorgan Chase & Co. lifted their price objective on NetApp from $115.00 to $130.00 and gave the company an "overweight" rating in a report on Thursday, July 17th. Citigroup lifted their price objective on NetApp from $105.00 to $110.00 and gave the company a "neutral" rating in a report on Monday, June 2nd. Finally, Morgan Stanley reiterated a "cautious" rating on shares of NetApp in a report on Tuesday, May 20th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and six have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $118.86.

NetApp Stock Down 0.2%

Shares of NASDAQ:NTAP traded down $0.22 during mid-day trading on Wednesday, reaching $105.87. 367,049 shares of the stock were exchanged, compared to its average volume of 2,074,057. The company has a quick ratio of 1.22, a current ratio of 1.25 and a debt-to-equity ratio of 2.39. The company has a market cap of $21.21 billion, a P/E ratio of 18.67, a P/E/G ratio of 2.46 and a beta of 1.42. NetApp, Inc. has a one year low of $71.84 and a one year high of $135.45. The stock's 50 day simple moving average is $103.97 and its 200-day simple moving average is $102.27.

NetApp (NASDAQ:NTAP - Get Free Report) last posted its quarterly earnings results on Thursday, May 29th. The data storage provider reported $1.93 earnings per share for the quarter, beating analysts' consensus estimates of $1.90 by $0.03. The firm had revenue of $1.73 billion during the quarter, compared to the consensus estimate of $1.72 billion. NetApp had a return on equity of 126.96% and a net margin of 18.05%. The business's revenue was up 3.8% compared to the same quarter last year. During the same period last year, the company earned $1.80 earnings per share. As a group, equities research analysts predict that NetApp, Inc. will post 5.89 EPS for the current year.

NetApp Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 23rd. Shareholders of record on Thursday, July 3rd were paid a $0.52 dividend. The ex-dividend date of this dividend was Thursday, July 3rd. This represents a $2.08 dividend on an annualized basis and a yield of 1.96%. NetApp's dividend payout ratio is 36.62%.

About NetApp

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.