Apollo Management Holdings L.P. Sells 64,400,001 Shares of ADT Inc. (NYSE:ADT)

Apollo Management Holdings L.P. lessened its position in ADT Inc. (NYSE:ADT - Free Report) by 15.2% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 359,150,366 shares of the security and automation business's stock after selling 64,400,001 shares during the quarter. ADT makes up about 34.3% of Apollo Management Holdings L.P.'s investment portfolio, making the stock its largest holding. Apollo Management Holdings L.P. owned about 39.60% of ADT worth $2,481,729,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the company. Headlands Technologies LLC bought a new stake in shares of ADT in the 4th quarter worth approximately $62,000. Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of ADT in the 4th quarter worth about $73,000. Magnetar Financial LLC bought a new position in ADT in the 4th quarter worth about $73,000. Federated Hermes Inc. grew its position in ADT by 15.8% during the 4th quarter. Federated Hermes Inc. now owns 10,600 shares of the security and automation business's stock valued at $73,000 after purchasing an additional 1,449 shares during the last quarter. Finally, Chicago Partners Investment Group LLC purchased a new position in ADT in the fourth quarter worth about $74,000. 87.22% of the stock is currently owned by institutional investors.

ADT Price Performance

ADT stock traded up $0.01 during midday trading on Monday, reaching $8.16. 10,421,176 shares of the stock traded hands, compared to its average volume of 8,250,953. The company has a quick ratio of 0.64, a current ratio of 0.81 and a debt-to-equity ratio of 1.93. ADT Inc. has a 12 month low of $6.53 and a 12 month high of $8.39. The stock's fifty day moving average is $7.86 and its 200-day moving average is $7.53. The stock has a market cap of $7.15 billion, a P/E ratio of 8.88 and a beta of 1.29.

ADT (NYSE:ADT - Get Free Report) last released its quarterly earnings results on Thursday, April 24th. The security and automation business reported $0.21 EPS for the quarter, topping the consensus estimate of $0.20 by $0.01. The company had revenue of $1.27 billion during the quarter, compared to analyst estimates of $1.25 billion. ADT had a return on equity of 17.77% and a net margin of 18.18%. The firm's revenue was up 6.5% on a year-over-year basis. During the same quarter last year, the business posted $0.16 earnings per share. As a group, equities research analysts anticipate that ADT Inc. will post 0.7 EPS for the current year.

ADT Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 8th. Stockholders of record on Thursday, June 12th will be issued a $0.055 dividend. The ex-dividend date is Thursday, June 12th. This represents a $0.22 dividend on an annualized basis and a dividend yield of 2.70%. ADT's dividend payout ratio is presently 37.93%.

Wall Street Analysts Forecast Growth

Several analysts have commented on the company. Barclays upgraded ADT from an "underweight" rating to an "equal weight" rating and increased their target price for the company from $7.00 to $9.00 in a research note on Friday, April 4th. Royal Bank of Canada restated a "sector perform" rating and set a $9.00 target price on shares of ADT in a research note on Monday, April 21st.

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.