State of Alaska Department of Revenue Lowers Stock Holdings in National Instruments Co. (NASDAQ:NATI)

State of Alaska Department of Revenue trimmed its stake in National Instruments Co. (NASDAQ:NATIGet Rating) by 2.5% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 18,366 shares of the technology company’s stock after selling 480 shares during the period. State of Alaska Department of Revenue’s holdings in National Instruments were worth $693,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently added to or reduced their stakes in the company. Toth Financial Advisory Corp purchased a new stake in National Instruments in the 2nd quarter valued at about $25,000. First Horizon Advisors Inc. purchased a new stake in National Instruments in the 2nd quarter valued at about $50,000. EverSource Wealth Advisors LLC raised its holdings in shares of National Instruments by 5,855.2% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,727 shares of the technology company’s stock valued at $54,000 after purchasing an additional 1,698 shares in the last quarter. Van ECK Associates Corp raised its holdings in shares of National Instruments by 32.8% in the 2nd quarter. Van ECK Associates Corp now owns 1,771 shares of the technology company’s stock valued at $55,000 after purchasing an additional 437 shares in the last quarter. Finally, Point72 Hong Kong Ltd bought a new stake in shares of National Instruments in the 1st quarter valued at about $145,000. 90.87% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently commented on NATI shares. UBS Group started coverage on shares of National Instruments in a report on Thursday, October 20th. They issued a “neutral” rating and a $43.00 price target for the company. The Goldman Sachs Group reduced their price target on shares of National Instruments from $49.00 to $44.00 and set a “buy” rating for the company in a report on Friday, October 28th. Jefferies Financial Group started coverage on shares of National Instruments in a report on Tuesday, November 22nd. They issued a “buy” rating and a $50.00 price target for the company. TheStreet upgraded shares of National Instruments from a “c” rating to a “b-” rating in a report on Thursday, October 27th. Finally, Morgan Stanley boosted their price objective on shares of National Instruments from $47.00 to $52.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 13th. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $47.86.

National Instruments Trading Up 2.3 %

NASDAQ NATI opened at $38.77 on Wednesday. The company has a quick ratio of 1.58, a current ratio of 2.45 and a debt-to-equity ratio of 0.48. The firm has a market cap of $5.06 billion, a PE ratio of 36.92 and a beta of 1.09. The company has a 50 day moving average price of $38.79 and a 200 day moving average price of $38.14. National Instruments Co. has a 52 week low of $29.81 and a 52 week high of $43.39.

National Instruments (NASDAQ:NATIGet Rating) last issued its quarterly earnings results on Thursday, October 27th. The technology company reported $0.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.40 by $0.10. National Instruments had a net margin of 8.59% and a return on equity of 16.91%. The business had revenue of $427.93 million for the quarter, compared to analyst estimates of $426.71 million. As a group, sell-side analysts forecast that National Instruments Co. will post 1.39 EPS for the current fiscal year.

National Instruments Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, November 28th. Shareholders of record on Monday, November 7th were paid a dividend of $0.28 per share. The ex-dividend date of this dividend was Friday, November 4th. This represents a $1.12 dividend on an annualized basis and a yield of 2.89%. National Instruments’s payout ratio is 106.67%.

Insider Buying and Selling at National Instruments

In other National Instruments news, EVP Ritu Favre sold 1,437 shares of the company’s stock in a transaction that occurred on Tuesday, November 1st. The shares were sold at an average price of $38.18, for a total transaction of $54,864.66. Following the transaction, the executive vice president now owns 38,465 shares in the company, valued at approximately $1,468,593.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other National Instruments news, EVP Ritu Favre sold 1,437 shares of the company’s stock in a transaction that occurred on Tuesday, November 1st. The shares were sold at an average price of $38.18, for a total transaction of $54,864.66. Following the transaction, the executive vice president now owns 38,465 shares in the company, valued at approximately $1,468,593.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Eric Howard Starkloff sold 900 shares of the company’s stock in a transaction on Thursday, December 1st. The shares were sold at an average price of $42.00, for a total transaction of $37,800.00. Following the completion of the sale, the chief executive officer now directly owns 285,578 shares in the company, valued at $11,994,276. The disclosure for this sale can be found here. In the last quarter, insiders have sold 3,137 shares of company stock worth $124,665. 0.66% of the stock is owned by corporate insiders.

National Instruments Profile

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National Instruments Corporation provides a software-centric platform and systems to engineers and scientists worldwide. Its programming environments software includes NI LabVIEW, a graphical software platform to visualize hardware configuration, measurement data, and debugging of application; NI LabWindows/CVI, an ANSI C integrated development environment and engineering toolbox; and NI Measurement Studio, a suite of .NET tools for building engineering applications in Microsoft Visual Studio.

Further Reading

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Institutional Ownership by Quarter for National Instruments (NASDAQ:NATI)

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