HHM Wealth Advisors LLC Has $110,000 Position in NetApp, Inc. (NASDAQ:NTAP)

HHM Wealth Advisors LLC increased its holdings in NetApp, Inc. (NASDAQ:NTAP) by 20.8% in the 4th quarter, HoldingsChannel.com reports. The firm owned 948 shares of the data storage provider’s stock after buying an additional 163 shares during the quarter. HHM Wealth Advisors LLC’s holdings in NetApp were worth $110,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. McAdam LLC raised its stake in NetApp by 5.4% during the fourth quarter. McAdam LLC now owns 2,655 shares of the data storage provider’s stock worth $308,000 after acquiring an additional 137 shares in the last quarter. Spire Wealth Management boosted its stake in NetApp by 13.6% in the fourth quarter. Spire Wealth Management now owns 1,674 shares of the data storage provider’s stock worth $194,000 after purchasing an additional 201 shares in the last quarter. Richardson Financial Services Inc. bought a new stake in shares of NetApp during the fourth quarter worth $52,000. Sylvest Advisors LLC bought a new position in shares of NetApp in the fourth quarter valued at about $859,000. Finally, Tokio Marine Asset Management Co. Ltd. lifted its position in NetApp by 940.7% during the 4th quarter. Tokio Marine Asset Management Co. Ltd. now owns 67,103 shares of the data storage provider’s stock worth $7,789,000 after buying an additional 60,655 shares in the last quarter. Institutional investors own 92.17% of the company’s stock.

NetApp Stock Down 1.9 %

Shares of NTAP stock opened at $119.72 on Tuesday. The company has a market capitalization of $24.34 billion, a price-to-earnings ratio of 22.01, a P/E/G ratio of 2.90 and a beta of 1.23. NetApp, Inc. has a 12-month low of $83.80 and a 12-month high of $135.45. The firm has a fifty day moving average of $121.21 and a 200-day moving average of $122.21. The company has a quick ratio of 0.84, a current ratio of 0.91 and a debt-to-equity ratio of 1.39.

NetApp (NASDAQ:NTAP) last posted its quarterly earnings results on Thursday, November 21st. The data storage provider reported $1.87 earnings per share for the quarter, topping the consensus estimate of $1.78 by $0.09. The firm had revenue of $1.66 billion for the quarter, compared to analyst estimates of $1.65 billion. NetApp had a return on equity of 123.63% and a net margin of 17.78%. The business’s quarterly revenue was up 6.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.23 EPS. As a group, equities research analysts predict that NetApp, Inc. will post 5.89 earnings per share for the current fiscal year.

NetApp Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 22nd. Investors of record on Friday, January 3rd were paid a $0.52 dividend. The ex-dividend date of this dividend was Friday, January 3rd. This represents a $2.08 annualized dividend and a yield of 1.74%. NetApp’s dividend payout ratio (DPR) is currently 38.24%.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on NTAP shares. Morgan Stanley boosted their target price on shares of NetApp from $132.00 to $146.00 and gave the stock an “equal weight” rating in a research note on Tuesday, December 17th. Barclays boosted their price objective on shares of NetApp from $119.00 to $132.00 and gave the stock an “equal weight” rating in a research report on Friday, November 22nd. StockNews.com upgraded NetApp from a “hold” rating to a “buy” rating in a research report on Tuesday, January 28th. Citigroup boosted their target price on NetApp from $130.00 to $135.00 and gave the stock a “neutral” rating in a research report on Friday, November 22nd. Finally, Bank of America lifted their price target on shares of NetApp from $115.00 to $121.00 and gave the stock an “underperform” rating in a research report on Friday, November 22nd. One research analyst has rated the stock with a sell rating, nine have given a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, NetApp presently has a consensus rating of “Hold” and an average price target of $139.20.

Insiders Place Their Bets

In related news, President Cesar Cernuda sold 22,000 shares of the firm’s stock in a transaction dated Monday, December 30th. The shares were sold at an average price of $114.99, for a total transaction of $2,529,780.00. Following the transaction, the president now directly owns 27,099 shares of the company’s stock, valued at approximately $3,116,114.01. This trade represents a 44.81 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Lorenzo Daniel De sold 326 shares of the stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $117.44, for a total transaction of $38,285.44. The disclosure for this sale can be found here. Insiders have sold a total of 51,610 shares of company stock valued at $6,123,351 over the last 90 days. 0.47% of the stock is currently owned by insiders.

NetApp Company 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.