Eaton Vance Management lessened its holdings in shares of ADTRAN, Inc. (NASDAQ:ADTN) by 27.0% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 31,740 shares of the communications equipment provider’s stock after selling 11,753 shares during the quarter. Eaton Vance Management owned 0.07% of ADTRAN worth $614,000 as of its most recent filing with the SEC.
A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Voya Investment Management LLC lifted its stake in ADTRAN by 11.1% during the second quarter. Voya Investment Management LLC now owns 24,092 shares of the communications equipment provider’s stock worth $497,000 after purchasing an additional 2,416 shares during the last quarter. State Street Corp lifted its stake in ADTRAN by 4.3% during the second quarter. State Street Corp now owns 1,332,947 shares of the communications equipment provider’s stock worth $27,527,000 after purchasing an additional 54,671 shares during the last quarter. Public Employees Retirement System of Ohio lifted its stake in ADTRAN by 5.8% during the second quarter. Public Employees Retirement System of Ohio now owns 6,804 shares of the communications equipment provider’s stock worth $141,000 after purchasing an additional 373 shares during the last quarter. Nationwide Fund Advisors lifted its stake in ADTRAN by 14.3% during the third quarter. Nationwide Fund Advisors now owns 223,618 shares of the communications equipment provider’s stock worth $5,367,000 after purchasing an additional 27,942 shares during the last quarter. Finally, Raymond James Financial Services Advisors Inc. acquired a new stake in ADTRAN in the third quarter worth $1,504,000. 93.00% of the stock is owned by hedge funds and other institutional investors.
ADTN has been the topic of a number of research analyst reports. BidaskClub raised ADTRAN from a “strong sell” rating to a “sell” rating in a report on Friday, March 9th. ValuEngine lowered ADTRAN from a “hold” rating to a “sell” rating in a research report on Thursday, March 1st. Northland Securities restated a “buy” rating and set a $23.00 price objective on shares of ADTRAN in a research report on Thursday, January 18th. Jefferies Group reaffirmed a “hold” rating and set a $17.25 price target on shares of ADTRAN in a research note on Thursday, January 18th. Finally, Cowen reaffirmed a “hold” rating and set a $16.00 price target on shares of ADTRAN in a research note on Friday, December 29th. Three research analysts have rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $21.41.
Shares of ADTRAN, Inc. (ADTN) traded down $0.28 during trading hours on Wednesday, hitting $16.37. The stock had a trading volume of 280,063 shares, compared to its average volume of 643,416. The company has a debt-to-equity ratio of 0.05, a current ratio of 3.87 and a quick ratio of 2.72. The firm has a market cap of $796.58, a price-to-earnings ratio of 33.05, a PEG ratio of 3.43 and a beta of 0.56. ADTRAN, Inc. has a one year low of $15.25 and a one year high of $25.10.
ADTRAN (NASDAQ:ADTN) last announced its quarterly earnings results on Tuesday, January 16th. The communications equipment provider reported $0.05 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.01 by $0.04. The business had revenue of $126.52 million for the quarter, compared to analyst estimates of $125.90 million. ADTRAN had a return on equity of 7.95% and a net margin of 3.58%. equities research analysts anticipate that ADTRAN, Inc. will post 0.48 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Wednesday, February 14th. Stockholders of record on Wednesday, January 31st were given a dividend of $0.09 per share. The ex-dividend date of this dividend was Tuesday, January 30th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 2.20%. ADTRAN’s payout ratio is currently 72.00%.
ADTRAN, Inc (ADTRAN) is a provider of networking and communications equipment. The Company’s solutions enable voice, data, video and Internet communications across a range of network infrastructures. It operates through two segments: Network Solutions and Services & Support. Network Solutions includes software and hardware products that enable CSPs and enterprise customers to realize a fully connected world.
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