Norges Bank Purchases New Shares in ADT Inc. $ADT

Norges Bank purchased a new position in shares of ADT Inc. (NYSE:ADT) during the 2nd quarter, HoldingsChannel reports. The institutional investor purchased 25,953,363 shares of the security and automation business’s stock, valued at approximately $219,825,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. GAMMA Investing LLC raised its stake in shares of ADT by 69.5% in the second quarter. GAMMA Investing LLC now owns 3,240 shares of the security and automation business’s stock worth $27,000 after acquiring an additional 1,329 shares during the last quarter. Poinciana Advisors Group LLC raised its position in ADT by 9.1% in the 2nd quarter. Poinciana Advisors Group LLC now owns 17,544 shares of the security and automation business’s stock worth $149,000 after purchasing an additional 1,470 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in ADT by 4.1% during the 2nd quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 41,189 shares of the security and automation business’s stock worth $349,000 after buying an additional 1,607 shares in the last quarter. Northwest Wealth Management LLC boosted its position in ADT by 16.5% in the 2nd quarter. Northwest Wealth Management LLC now owns 12,495 shares of the security and automation business’s stock valued at $106,000 after buying an additional 1,769 shares during the last quarter. Finally, Atria Investments Inc increased its stake in shares of ADT by 13.5% in the 2nd quarter. Atria Investments Inc now owns 15,119 shares of the security and automation business’s stock valued at $128,000 after buying an additional 1,803 shares during the period. Institutional investors and hedge funds own 87.22% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently issued reports on ADT. Wall Street Zen lowered ADT from a “buy” rating to a “hold” rating in a research note on Saturday, November 8th. Zacks Research downgraded shares of ADT from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 22nd. Citigroup raised their target price on shares of ADT from $9.00 to $10.00 and gave the company a “buy” rating in a research note on Tuesday, August 26th. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of ADT in a research report on Tuesday, November 25th. Two investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, ADT currently has a consensus rating of “Hold” and an average price target of $9.38.

ADT Price Performance

Shares of ADT opened at $8.10 on Tuesday. The stock has a 50 day simple moving average of $8.44 and a 200 day simple moving average of $8.47. ADT Inc. has a 52-week low of $6.71 and a 52-week high of $8.94. The company has a debt-to-equity ratio of 1.99, a quick ratio of 0.54 and a current ratio of 0.67. The firm has a market capitalization of $6.64 billion, a PE ratio of 11.73 and a beta of 0.94.

ADT (NYSE:ADT) last announced its quarterly earnings results on Friday, April 22nd. The security and automation business reported ($0.12) earnings per share for the quarter. The company had revenue of $1.31 billion during the quarter. ADT had a net margin of 12.52% and a return on equity of 18.96%. Sell-side analysts predict that ADT Inc. will post 0.7 EPS for the current fiscal year.

ADT Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 8th. Investors of record on Thursday, December 11th will be paid a $0.055 dividend. The ex-dividend date of this dividend is Thursday, December 11th. This represents a $0.22 dividend on an annualized basis and a yield of 2.7%. ADT’s dividend payout ratio is presently 31.88%.

ADT Profile

ADT Inc provides security, interactive, and smart home solutions to residential and small business customers in the United States. It operates through two segments, Consumer and Small Business, and Solar. The company provides burglar and life safety alarms, smart security cameras, smart home automation systems, and video surveillance systems.