ADT (NYSE:ADT) Sees Large Volume Increase Following Dividend Announcement

ADT Inc. (NYSE:ADT) saw strong trading volume on Friday following a dividend announcement from the company. 9,515,544 shares were traded during mid-day trading, an increase of 40% from the previous session’s volume of 6,795,666 shares.The stock last traded at $8.37 and had previously closed at $8.12.

The newly announced dividend which will be paid on Thursday, April 3rd. Stockholders of record on Thursday, March 13th will be issued a dividend of $0.055 per share. This represents a $0.22 annualized dividend and a dividend yield of 2.69%. The ex-dividend date of this dividend is Thursday, March 13th. ADT’s dividend payout ratio (DPR) is presently 23.91%.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on ADT shares. Morgan Stanley increased their target price on ADT from $8.50 to $9.00 and gave the stock an “equal weight” rating in a research note on Thursday, December 12th. Royal Bank of Canada reissued a “sector perform” rating and set a $9.00 price objective on shares of ADT in a research report on Wednesday, January 29th.

ADT Stock Up 0.7 %

The firm has a 50-day moving average price of $7.33 and a two-hundred day moving average price of $7.31. The company has a market capitalization of $7.41 billion, a price-to-earnings ratio of 8.89 and a beta of 1.50. The company has a debt-to-equity ratio of 1.93, a current ratio of 0.81 and a quick ratio of 0.64.

Hedge Funds Weigh In On ADT

A number of large investors have recently bought and sold shares of ADT. Norges Bank acquired a new position in ADT during the fourth quarter worth $153,824,000. Vanguard Group Inc. lifted its position in 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 worth $307,876,000 after buying an additional 7,610,709 shares in the last quarter. Zimmer Partners LP acquired a new position in shares of ADT during the 4th quarter worth about $48,687,000. Pacer Advisors Inc. grew its holdings in shares of ADT by 20.3% in the 3rd quarter. Pacer Advisors Inc. now owns 30,941,509 shares of the security and automation business’s stock valued at $223,707,000 after acquiring an additional 5,222,972 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in shares of ADT by 31.1% in the 4th quarter. Dimensional Fund Advisors LP now owns 21,453,811 shares of the security and automation business’s stock valued at $148,246,000 after acquiring an additional 5,089,056 shares in the last quarter. Institutional investors and hedge funds own 87.22% of the company’s stock.

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.