Millennium Management LLC Buys 6,527,539 Shares of ADT Inc. $ADT

Millennium Management LLC increased its stake in shares of ADT Inc. (NYSE:ADT - Free Report) by 668.5% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 7,504,051 shares of the security and automation business's stock after purchasing an additional 6,527,539 shares during the period. Millennium Management LLC owned 0.90% of ADT worth $61,083,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Versant Capital Management Inc purchased a new stake in ADT during the 1st quarter worth about $35,000. True Wealth Design LLC bought a new position in shares of ADT during the 4th quarter valued at about $36,000. AlphaQuest LLC increased its position in shares of ADT by 80.9% during the 1st quarter. AlphaQuest LLC now owns 5,301 shares of the security and automation business's stock valued at $43,000 after purchasing an additional 2,370 shares during the last quarter. Northwest Wealth Management LLC bought a new position in ADT during the 1st quarter worth approximately $87,000. Finally, Focus Partners Advisor Solutions LLC bought a new position in ADT during the 4th quarter worth approximately $88,000. Hedge funds and other institutional investors own 87.22% of the company's stock.

ADT Stock Down 0.5%

Shares of ADT stock traded down $0.04 on Friday, reaching $8.81. The company's stock had a trading volume of 6,672,307 shares, compared to its average volume of 9,185,472. The company has a market capitalization of $7.32 billion, a price-to-earnings ratio of 13.35 and a beta of 1.13. The firm's fifty day simple moving average is $8.57 and its two-hundred day simple moving average is $8.26. ADT Inc. has a 52 week low of $6.68 and a 52 week high of $8.89. The company has a quick ratio of 0.37, a current ratio of 0.46 and a debt-to-equity ratio of 1.84.

ADT (NYSE:ADT - Get Free Report) last posted its earnings results on Thursday, July 24th. The security and automation business reported $0.23 EPS for the quarter, topping analysts' consensus estimates of $0.19 by $0.04. ADT had a return on equity of 18.58% and a net margin of 12.30%.The business had revenue of $1.29 billion during the quarter, compared to analyst estimates of $1.28 billion. During the same quarter last year, the company earned $0.17 EPS. The company's quarterly revenue was up 6.8% compared to the same quarter last year. ADT has set its FY 2025 guidance at 0.810-0.890 EPS. Equities 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. Investors of record on Thursday, September 11th will be issued a $0.055 dividend. The ex-dividend date of this dividend is Thursday, September 11th. This represents a $0.22 annualized dividend and a dividend yield of 2.5%. ADT's payout ratio is presently 33.33%.

Insider Activity at ADT

In related news, major shareholder Apollo Management Holdings Gp, sold 71,000,000 shares of ADT stock in a transaction 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 completion of the sale, the insider owned 112,650,366 shares of the company's stock, valued at $936,124,541.46. The trade was a 38.66% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 2.70% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on ADT shares. Morgan Stanley raised their price target on ADT from $9.00 to $9.50 and gave the stock an "equal weight" rating in a research report on Monday, July 28th. Wall Street Zen cut ADT from a "strong-buy" rating to a "buy" rating in a report on Sunday, September 7th. Citigroup increased their price objective on ADT from $9.00 to $10.00 and gave the stock a "buy" rating in a report on Tuesday, August 26th. Finally, Zacks Research upgraded ADT to a "strong-buy" rating in a report on Tuesday, August 12th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $9.34.

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.