Mackenzie Financial Corp Trims Stock Position in ADT Inc. (NYSE:ADT)

Key Points

• Mackenzie Financial Corp reduced its stake in ADT Inc. by 15.1% during the first quarter, owning approximately 1,361,167 shares valued at $11,080,000 after the sale.
• Major shareholder, Apollo Management, sold 71,000,000 shares of ADT stock for approximately $590 million, leading to a 38.66% decline in their position.
• ADT recently announced a quarterly dividend of $0.055 per share, with a dividend yield of 2.6%, scheduled for payment on October 2nd.

Mackenzie Financial Corp lowered its holdings in shares of ADT Inc. (NYSE:ADT - Free Report) by 15.1% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,361,167 shares of the security and automation business's stock after selling 242,927 shares during the quarter. Mackenzie Financial Corp owned approximately 0.16% of ADT worth $11,080,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently made changes to their positions in ADT. Raymond James Financial Inc. purchased a new stake in shares of ADT during the 4th quarter valued at about $1,153,000. American Century Companies Inc. grew its stake in shares of ADT by 96.1% during the 4th quarter. American Century Companies Inc. now owns 170,768 shares of the security and automation business's stock valued at $1,180,000 after acquiring an additional 83,689 shares during the period. Sei Investments Co. grew its stake in shares of ADT by 1,132.1% during the 4th quarter. Sei Investments Co. now owns 243,702 shares of the security and automation business's stock valued at $1,684,000 after acquiring an additional 223,922 shares during the period. KLP Kapitalforvaltning AS bought a new position in shares of ADT during the 4th quarter valued at approximately $426,000. Finally, Vanguard Group Inc. grew its stake in shares of ADT by 20.6% during the 4th quarter. Vanguard Group Inc. now owns 44,555,115 shares of the security and automation business's stock valued at $307,876,000 after acquiring an additional 7,610,709 shares during the period. Hedge funds and other institutional investors own 87.22% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on ADT shares. Royal Bank Of Canada reiterated a "sector perform" rating and set a $9.00 price objective on shares of ADT in a research note on Monday, April 21st. Morgan Stanley boosted their price objective on ADT from $9.00 to $9.50 and gave the company an "equal weight" rating in a research note on Monday. Finally, Barclays upgraded ADT from an "underweight" rating to an "equal weight" rating and boosted their price objective for the company from $7.00 to $9.00 in a research note on Friday, April 4th.

Insider Activity

In other 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 transaction of $590,010,000.00. Following the sale, 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 legal filing with the Securities & Exchange Commission, which is available at the SEC website. Over the last 90 days, insiders sold 166,000,000 shares of company stock worth $1,363,160,000. 2.70% of the stock is owned by corporate insiders.

ADT Trading Down 0.1%

Shares of ADT opened at $8.36 on Friday. The company has a debt-to-equity ratio of 1.84, a current ratio of 0.46 and a quick ratio of 0.37. ADT Inc. has a 1 year low of $6.53 and a 1 year high of $8.80. The company has a 50 day simple moving average of $8.37 and a two-hundred day simple moving average of $7.99. The firm has a market cap of $6.99 billion, a P/E ratio of 12.66 and a beta of 1.21.

ADT (NYSE:ADT - Get Free Report) last announced its quarterly earnings data 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. ADT had a net margin of 12.30% and a return on equity of 18.58%. The business had revenue of $1.29 billion during the quarter, compared to analyst estimates of $1.28 billion. During the same period last year, the firm posted $0.17 EPS. The company's revenue was up 6.8% on a year-over-year basis. On average, equities analysts expect that ADT Inc. will post 0.7 earnings per share for the current fiscal year.

ADT Dividend Announcement

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

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.

Want to see what other hedge funds are holding ADT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for ADT Inc. (NYSE:ADT - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.