Financial Gravity Companies Inc. acquired a new position in ADTRAN, Inc. (NASDAQ:ADTN) during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 4,121 shares of the communications equipment provider’s stock, valued at approximately $59,000.
Other hedge funds also recently bought and sold shares of the company. SG Americas Securities LLC boosted its stake in shares of ADTRAN by 132.8% in the fourth quarter. SG Americas Securities LLC now owns 29,544 shares of the communications equipment provider’s stock worth $317,000 after acquiring an additional 16,854 shares during the period. Rhumbline Advisers boosted its stake in shares of ADTRAN by 19.2% in the fourth quarter. Rhumbline Advisers now owns 142,528 shares of the communications equipment provider’s stock worth $1,531,000 after acquiring an additional 22,975 shares during the period. Arizona State Retirement System boosted its stake in shares of ADTRAN by 6.0% in the fourth quarter. Arizona State Retirement System now owns 73,380 shares of the communications equipment provider’s stock worth $788,000 after acquiring an additional 4,128 shares during the period. Assenagon Asset Management S.A. bought a new position in shares of ADTRAN in the fourth quarter worth about $906,000. Finally, Vanguard Group Inc boosted its stake in shares of ADTRAN by 1.9% in the third quarter. Vanguard Group Inc now owns 5,136,378 shares of the communications equipment provider’s stock worth $90,657,000 after acquiring an additional 93,428 shares during the period. Institutional investors own 93.92% of the company’s stock.
NASDAQ:ADTN opened at $14.26 on Tuesday. The company has a current ratio of 3.01, a quick ratio of 2.17 and a debt-to-equity ratio of 0.06. The stock has a market capitalization of $668.53 million, a P/E ratio of -30.34 and a beta of 1.27. ADTRAN, Inc. has a 12 month low of $10.21 and a 12 month high of $19.30.
ADTRAN (NASDAQ:ADTN) last posted its earnings results on Wednesday, January 23rd. The communications equipment provider reported ($0.12) EPS for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.08). The firm had revenue of $140.09 million during the quarter, compared to analysts’ expectations of $134.25 million. ADTRAN had a negative return on equity of 4.42% and a negative net margin of 3.34%.
The company also recently announced a quarterly dividend, which will be paid on Thursday, February 21st. Investors of record on Thursday, February 7th will be given a $0.09 dividend. The ex-dividend date of this dividend is Wednesday, February 6th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 2.52%. ADTRAN’s dividend payout ratio is currently -76.60%.
A number of equities analysts have recently weighed in on ADTN shares. ValuEngine lowered ADTRAN from a “buy” rating to a “hold” rating in a research note on Wednesday, October 17th. Needham & Company LLC dropped their price objective on ADTRAN from $18.00 to $17.00 and set a “buy” rating for the company in a research note on Thursday, October 18th. They noted that the move was a valuation call. BidaskClub lowered ADTRAN from a “buy” rating to a “hold” rating in a research note on Wednesday, October 24th. MKM Partners dropped their price objective on ADTRAN to $17.00 and set a “buy” rating for the company in a research note on Thursday, December 20th. Finally, Northland Securities set a $24.00 price objective on ADTRAN and gave the stock a “buy” rating in a research note on Thursday, December 20th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $17.50.
ADTRAN, Inc provides networking and communications equipment worldwide. The company operates through two segments, Network Solutions and Services & Support. It offers access and aggregation solutions, including network management and subscriber services control and orchestration software within a SD-access architecture; SDN-controlled programmable network elements; fiber to the premises and fiber to the node (FTTN) multi-service access nodes (MSAN); fiber aggregation and FTTN MSAN; fiber to the distribution point optical network units; optical line terminals; optical networking edge aggregation; and IP digital subscriber line access multiplexers.
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