Fmr LLC reduced its position in shares of ADT Inc (NYSE:ADT) by 90.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,272,033 shares of the security and automation business’s stock after selling 11,519,296 shares during the period. Fmr LLC’s holdings in ADT were worth $11,003,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in ADT. Stevens Capital Management LP bought a new position in shares of ADT during the second quarter valued at about $121,000. Wells Fargo & Company MN bought a new position in shares of ADT during the first quarter valued at about $126,000. American Asset Management Inc. bought a new position in shares of ADT during the second quarter valued at about $134,000. Envestnet Asset Management Inc. bought a new position in shares of ADT during the first quarter valued at about $149,000. Finally, Neuberger Berman Group LLC bought a new position in shares of ADT during the first quarter valued at about $174,000. 99.79% of the stock is currently owned by institutional investors.
A number of research analysts recently weighed in on the stock. Zacks Investment Research lowered shares of ADT from a “hold” rating to a “sell” rating in a research report on Monday, August 13th. Credit Suisse Group assumed coverage on shares of ADT in a research report on Friday, August 10th. They set an “outperform” rating and a $12.50 price target on the stock. Barclays dropped their price target on shares of ADT from $13.00 to $12.00 and set an “overweight” rating on the stock in a research report on Thursday, August 9th. Finally, Deutsche Bank assumed coverage on shares of ADT in a research report on Monday, October 1st. They set a “hold” rating and a $11.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and eight have assigned a buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $14.50.
Shares of ADT stock opened at $8.69 on Monday. The stock has a market capitalization of $7.10 billion and a price-to-earnings ratio of -24.83. The company has a debt-to-equity ratio of 2.04, a quick ratio of 0.80 and a current ratio of 0.87. ADT Inc has a 52 week low of $6.93 and a 52 week high of $13.02.
ADT (NYSE:ADT) last announced its quarterly earnings data on Wednesday, August 8th. The security and automation business reported $0.15 EPS for the quarter, topping the consensus estimate of $0.11 by $0.04. The company had revenue of $1.13 billion during the quarter, compared to the consensus estimate of $1.13 billion. The firm’s revenue for the quarter was up 5.9% compared to the same quarter last year. Research analysts predict that ADT Inc will post 0.71 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 2nd. Shareholders of record on Tuesday, September 18th were given a $0.035 dividend. This represents a $0.14 annualized dividend and a yield of 1.61%. The ex-dividend date was Monday, September 17th. ADT’s dividend payout ratio is -40.00%.
ADT Inc provides security and automation solutions for homes and businesses in the United States and Canada. It provides a range of burglary, video, access control, fire and smoke alarm, and medical alert solutions to residential, commercial, and multi-site customers. The company primarily offers professionally monitored security solutions; and interactive home and business automation solutions that are designed to control access, react to movement, and sense carbon monoxide, flooding, and changes in temperature or other environmental conditions, as well as address personal emergencies, such as injuries, medical emergencies, or incapacitation.
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