Alliancebernstein L.P. raised its holdings in National Instruments Corp (NASDAQ:NATI) by 3,081.3% during the fourth quarter, HoldingsChannel.com reports. The firm owned 2,000,276 shares of the technology company’s stock after purchasing an additional 1,937,399 shares during the period. Alliancebernstein L.P.’s holdings in National Instruments were worth $83,271,000 at the end of the most recent quarter.
Several other hedge funds have also recently bought and sold shares of NATI. American Century Companies Inc. raised its holdings in shares of National Instruments by 37.7% in the 4th quarter. American Century Companies Inc. now owns 2,137,187 shares of the technology company’s stock valued at $88,971,000 after buying an additional 584,819 shares during the period. Allianz Asset Management GmbH purchased a new stake in shares of National Instruments in the 4th quarter valued at $12,739,000. Janus Henderson Group PLC raised its holdings in shares of National Instruments by 2.5% in the 3rd quarter. Janus Henderson Group PLC now owns 10,804,219 shares of the technology company’s stock valued at $455,616,000 after buying an additional 262,578 shares during the period. APG Asset Management N.V. raised its holdings in shares of National Instruments by 160.1% in the 4th quarter. APG Asset Management N.V. now owns 424,500 shares of the technology company’s stock valued at $14,717,000 after buying an additional 261,300 shares during the period. Finally, Wells Fargo & Company MN raised its holdings in shares of National Instruments by 26.2% in the 3rd quarter. Wells Fargo & Company MN now owns 1,196,710 shares of the technology company’s stock valued at $50,465,000 after buying an additional 248,656 shares during the period. Hedge funds and other institutional investors own 76.26% of the company’s stock.
Several equities research analysts recently issued reports on the company. Zacks Investment Research downgraded National Instruments from a “buy” rating to a “hold” rating in a report on Tuesday, January 2nd. Robert W. Baird restated a “buy” rating on shares of National Instruments in a report on Wednesday, January 31st. BidaskClub upgraded National Instruments from a “sell” rating to a “hold” rating in a report on Thursday, January 18th. ValuEngine upgraded National Instruments from a “hold” rating to a “buy” rating in a report on Thursday, March 1st. Finally, Stifel Nicolaus upped their price target on National Instruments from $46.00 to $50.00 and gave the stock a “buy” rating in a report on Wednesday, January 31st. Two analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $46.67.
Shares of National Instruments Corp (NATI) opened at $52.81 on Friday. National Instruments Corp has a 1-year low of $31.39 and a 1-year high of $53.57. The firm has a market capitalization of $7,000.00, a PE ratio of 56.78 and a beta of 0.97.
National Instruments (NASDAQ:NATI) last issued its quarterly earnings results on Tuesday, January 30th. The technology company reported $0.35 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.34 by $0.01. National Instruments had a return on equity of 10.76% and a net margin of 4.06%. The company had revenue of $349.80 million for the quarter, compared to the consensus estimate of $347.38 million. During the same quarter in the prior year, the business earned $0.34 EPS. National Instruments’s revenue was up 6.3% on a year-over-year basis. analysts forecast that National Instruments Corp will post 1.19 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Monday, March 5th. Shareholders of record on Monday, February 12th were issued a dividend of $0.23 per share. This is an increase from National Instruments’s previous quarterly dividend of $0.21. The ex-dividend date of this dividend was Friday, February 9th. This represents a $0.92 annualized dividend and a yield of 1.74%. National Instruments’s dividend payout ratio is 98.92%.
About National Instruments
National Instruments Corporation (NI) designs, manufactures and sells systems to engineers and scientists. The Company offers a line of measurement, automation and control products. It offers products, technology and services, which include system design software, programming tools, application software, modular hardware products and related driver software, production test systems, NI education platform, software products for teaching and hardware products for teaching.
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