ADT (NYSE:ADT) Reaches New 12-Month High Following Dividend Announcement

ADT Inc. (NYSE:ADT)’s stock price hit a new 52-week high on Thursday after the company announced a dividend. The company traded as high as $8.33 and last traded at $8.03, with a volume of 3015696 shares. The stock had previously closed at $7.53.

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

Wall Street Analyst Weigh In

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

ADT Trading Up 0.7 %

The firm 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 quick ratio of 0.64 and a current ratio of 0.81. The business has a fifty day moving average price of $7.33 and a 200 day moving average price of $7.31.

Institutional Trading of ADT

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Norges Bank acquired a new stake in ADT in the 4th quarter valued at $153,824,000. Vanguard Group Inc. increased its holdings in ADT by 20.6% in 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 purchasing an additional 7,610,709 shares in the last quarter. Zimmer Partners LP acquired a new stake in ADT in the 4th quarter valued at $48,687,000. Pacer Advisors Inc. increased its holdings in 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 purchasing an additional 5,222,972 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in 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 purchasing an additional 5,089,056 shares in the last quarter. 87.22% of the stock is currently owned by institutional investors and hedge funds.

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.