Eqis Capital Management Inc. cut its holdings in ADTRAN, Inc. (NASDAQ:ADTN) by 1.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 74,845 shares of the communications equipment provider’s stock after selling 1,433 shares during the period. Eqis Capital Management Inc. owned about 0.16% of ADTRAN worth $1,025,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Financial Gravity Companies Inc. bought a new position in shares of ADTRAN in the fourth quarter valued at approximately $59,000. Public Employees Retirement System of Ohio grew its holdings in shares of ADTRAN by 11.8% in the fourth quarter. Public Employees Retirement System of Ohio now owns 6,876 shares of the communications equipment provider’s stock valued at $74,000 after acquiring an additional 726 shares in the last quarter. Verition Fund Management LLC bought a new position in shares of ADTRAN in the third quarter valued at approximately $195,000. Massey Quick Simon & CO. LLC grew its holdings in shares of ADTRAN by 75.3% in the first quarter. Massey Quick Simon & CO. LLC now owns 11,084 shares of the communications equipment provider’s stock valued at $152,000 after acquiring an additional 4,761 shares in the last quarter. Finally, Dynamic Technology Lab Private Ltd bought a new position in shares of ADTRAN in the third quarter valued at approximately $196,000. 92.91% of the stock is owned by institutional investors.

ADTRAN stock opened at $16.59 on Friday. ADTRAN, Inc. has a 12 month low of $10.21 and a 12 month high of $19.30. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.17 and a current ratio of 2.66.

ADTRAN (NASDAQ:ADTN) last posted its quarterly earnings data on Wednesday, April 17th. The communications equipment provider reported $0.10 EPS for the quarter, beating the consensus estimate of ($0.09) by $0.19. ADTRAN had a negative return on equity of 0.32% and a negative net margin of 1.40%. The business had revenue of $143.79 million for the quarter, compared to the consensus estimate of $140.55 million.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 16th. Investors of record on Thursday, May 2nd will be paid a $0.09 dividend. The ex-dividend date is Wednesday, May 1st. This represents a $0.36 annualized dividend and a yield of 2.17%. ADTRAN’s payout ratio is -76.60%.

Several equities analysts have recently issued reports on ADTN shares. ValuEngine raised ADTRAN from a “hold” rating to a “buy” rating in a report on Friday. Zacks Investment Research raised ADTRAN from a “hold” rating to a “buy” rating and set a $12.00 target price for the company in a report on Wednesday, January 2nd. BidaskClub raised ADTRAN from a “hold” rating to a “buy” rating in a report on Thursday, January 31st. Finally, Needham & Company LLC downgraded ADTRAN from a “buy” rating to a “hold” rating in a research note on Tuesday, January 29th. One research analyst has rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $17.50.

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ADTRAN Company Profile

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.

See Also: Front-End Load

Institutional Ownership by Quarter for ADTRAN (NASDAQ:ADTN)

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