Janney Montgomery Scott LLC bought a new position in shares of ADTRAN Holdings, Inc. (NASDAQ:ADTN – Free Report) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 131,654 shares of the communications equipment provider’s stock, valued at approximately $1,386,000. Janney Montgomery Scott LLC owned 0.17% of ADTRAN at the end of the most recent reporting period.
Several other hedge funds have also added to or reduced their stakes in the business. FMR LLC lifted its position in shares of ADTRAN by 41.3% in the 2nd quarter. FMR LLC now owns 1,965 shares of the communications equipment provider’s stock worth $35,000 after purchasing an additional 574 shares during the period. Tower Research Capital LLC TRC lifted its position in shares of ADTRAN by 165.6% in the 1st quarter. Tower Research Capital LLC TRC now owns 2,223 shares of the communications equipment provider’s stock worth $35,000 after purchasing an additional 1,386 shares during the period. Macquarie Group Ltd. acquired a new position in shares of ADTRAN in the 3rd quarter worth approximately $46,000. Point72 Hong Kong Ltd acquired a new position in shares of ADTRAN in the 2nd quarter worth approximately $72,000. Finally, Robeco Institutional Asset Management B.V. acquired a new position in shares of ADTRAN in the 1st quarter worth approximately $92,000. 81.88% of the stock is currently owned by institutional investors and hedge funds.
ADTRAN Stock Performance
Shares of ADTN stock opened at $7.21 on Monday. The firm has a market capitalization of $567.28 million, a PE ratio of -7.59 and a beta of 1.39. The firm has a fifty day simple moving average of $8.05 and a two-hundred day simple moving average of $9.14. The company has a current ratio of 2.75, a quick ratio of 1.40 and a debt-to-equity ratio of 0.26. ADTRAN Holdings, Inc. has a 12 month low of $6.99 and a 12 month high of $23.21.
ADTRAN Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 5th. Shareholders of record on Monday, August 21st were paid a dividend of $0.09 per share. The ex-dividend date of this dividend was Friday, August 18th. This represents a $0.36 dividend on an annualized basis and a yield of 4.99%. ADTRAN’s dividend payout ratio (DPR) is presently -37.89%.
Wall Street Analyst Weigh In
Several research firms have recently weighed in on ADTN. StockNews.com began coverage on shares of ADTRAN in a research note on Thursday, October 5th. They issued a “sell” rating for the company. Needham & Company LLC lowered their price objective on shares of ADTRAN from $15.00 to $12.00 in a research note on Wednesday, August 9th. Finally, Rosenblatt Securities lowered their price objective on shares of ADTRAN from $12.00 to $11.00 and set a “buy” rating for the company in a research note on Wednesday, August 9th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, ADTRAN has an average rating of “Hold” and an average target price of $16.60.
Read Our Latest Research Report on ADTRAN
ADTRAN Company Profile
ADTRAN Holdings, Inc, through its subsidiaries, provides end-to-end fiber networking solutions for communications service provider, enterprises, and government customers in the United States, Germany, the United Kingdom, Mexico, and internationally. It operates through two segments, Network Solutions, and Services & Support.
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