Alberta Investment Management Corp Takes Position in ADT Inc. (NYSE:ADT)

Key Points

• Alberta Investment Management Corp acquired a new stake in ADT Inc., buying 227,600 shares valued at approximately $1.85 million in the first quarter.
• Major shareholder Apollo Management Holdings sold 71 million shares at an average price of $8.31, which represents a 38.66% decrease in their position.
• ADT recently declared a quarterly dividend of $0.055 per share, with the annualized dividend yield estimated at 2.6%.

Alberta Investment Management Corp purchased a new position in ADT Inc. (NYSE:ADT - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 227,600 shares of the security and automation business's stock, valued at approximately $1,853,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Versant Capital Management Inc purchased a new stake in shares of ADT in the 1st quarter valued at $35,000. True Wealth Design LLC purchased a new stake in shares of ADT during the fourth quarter worth $36,000. Headlands Technologies LLC purchased a new position in ADT in the 4th quarter worth approximately $62,000. Federated Hermes Inc. raised its stake in ADT by 15.8% during the fourth quarter. Federated Hermes Inc. now owns 10,600 shares of the security and automation business's stock worth $73,000 after purchasing an additional 1,449 shares during the period. Finally, Quarry LP purchased a new position in ADT in the fourth quarter worth approximately $80,000. Hedge funds and other institutional investors own 87.22% of the company's stock.

Insiders Place Their Bets

In other ADT news, major shareholder Apollo Management Holdings Gp, sold 71,000,000 shares of the company's stock in a transaction that occurred on Monday, July 28th. The stock was sold at an average price of $8.31, for a total value of $590,010,000.00. Following the transaction, the insider directly owned 112,650,366 shares of the company's stock, valued at $936,124,541.46. This represents a 38.66% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Over the last three months, insiders have sold 166,000,000 shares of company stock valued at $1,363,160,000. Corporate insiders own 2.70% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have commented on ADT shares. Morgan Stanley boosted their price target on shares of ADT from $9.00 to $9.50 and gave the stock an "equal weight" rating in a research note on Monday, July 28th. Wall Street Zen lowered ADT from a "strong-buy" rating to a "buy" rating in a research report on Saturday, August 2nd. Finally, Royal Bank Of Canada reaffirmed a "sector perform" rating and set a $9.00 price objective on shares of ADT in a research note on Monday, April 21st. Three analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $9.18.

ADT Trading Down 1.7%

Shares of ADT stock traded down $0.15 during trading hours on Thursday, reaching $8.44. The stock had a trading volume of 4,865,868 shares, compared to its average volume of 15,297,430. The company has a current ratio of 0.46, a quick ratio of 0.37 and a debt-to-equity ratio of 1.84. ADT Inc. has a 1 year low of $6.68 and a 1 year high of $8.80. The firm has a market capitalization of $7.01 billion, a price-to-earnings ratio of 12.78 and a beta of 1.20. The firm has a 50 day simple moving average of $8.39 and a two-hundred day simple moving average of $8.04.

ADT (NYSE:ADT - Get Free Report) last posted its earnings results on Thursday, July 24th. The security and automation business reported $0.23 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.19 by $0.04. The business had revenue of $1.29 billion during the quarter, compared to analyst estimates of $1.28 billion. ADT had a return on equity of 18.58% and a net margin of 12.30%. The company's revenue for the quarter was up 6.8% compared to the same quarter last year. During the same quarter last year, the firm earned $0.17 earnings per share. As a group, equities research analysts anticipate that ADT Inc. will post 0.7 earnings per share for the current year.

ADT Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 2nd. Shareholders of record on Thursday, September 11th will be given a $0.055 dividend. This represents a $0.22 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date of this dividend is Thursday, September 11th. ADT's dividend payout ratio is presently 33.33%.

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.