Bank of America Corp DE Acquires 538,939 Shares of ADT Inc. (NYSE:ADT)

Bank of America Corp DE increased its holdings in shares of ADT Inc. (NYSE:ADT - Free Report) by 48.8% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 1,642,263 shares of the security and automation business's stock after purchasing an additional 538,939 shares during the period. Bank of America Corp DE owned 0.18% of ADT worth $11,348,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of ADT. Headlands Technologies LLC bought a new stake in ADT in the 4th quarter valued at $62,000. Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of ADT during the fourth quarter worth approximately $73,000. Magnetar Financial LLC bought a new position in shares of ADT during the fourth quarter worth approximately $73,000. Federated Hermes Inc. increased its stake in shares of 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, Chicago Partners Investment Group LLC acquired a new stake in ADT during the 4th quarter worth approximately $74,000. Institutional investors and hedge funds own 87.22% of the company's stock.

Analysts Set New Price Targets

ADT has been the topic of several recent research reports. Royal Bank of Canada reiterated a "sector perform" rating and set a $9.00 price objective on shares of ADT in a research report on Monday, April 21st. Barclays raised shares of ADT from an "underweight" rating to an "equal weight" rating and raised their price target for the stock from $7.00 to $9.00 in a research report on Friday, April 4th.

Insider Transactions at ADT

In other ADT news, major shareholder Apollo Management Holdings Gp, sold 50,000,000 shares of the firm's stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $8.02, for a total value of $401,000,000.00. Following the sale, the insider now owns 228,650,366 shares in the company, valued at $1,833,775,935.32. This trade represents a 17.94% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. 2.70% of the stock is owned by insiders.

ADT Price Performance

NYSE ADT traded up $0.03 during midday trading on Thursday, hitting $8.24. The company had a trading volume of 1,102,219 shares, compared to its average volume of 14,823,073. The firm has a 50-day moving average price of $8.10 and a 200-day moving average price of $7.65. The company has a market capitalization of $6.89 billion, a PE ratio of 8.95 and a beta of 1.29. The company has a current ratio of 0.81, a quick ratio of 0.64 and a debt-to-equity ratio of 1.93. ADT Inc. has a twelve month low of $6.53 and a twelve month high of $8.70.

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

ADT Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 8th. Stockholders of record on Thursday, June 12th will be paid a $0.055 dividend. The ex-dividend date is Thursday, June 12th. This represents a $0.22 annualized dividend and a dividend yield of 2.67%. ADT's payout ratio is 37.93%.

About ADT

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.