Millennium Management LLC Sells 84,702 Shares of ADT Inc. (NYSE:ADT)

Millennium Management LLC reduced its position in shares of ADT Inc. (NYSE:ADT) by 8.0% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 976,512 shares of the security and automation business’s stock after selling 84,702 shares during the quarter. Millennium Management LLC owned 0.11% of ADT worth $6,748,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Headlands Technologies LLC bought a new stake in shares of ADT during the 4th quarter valued at about $62,000. Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of ADT during the 4th quarter valued at about $73,000. Magnetar Financial LLC bought a new stake in shares of ADT during the 4th quarter valued at about $73,000. Federated Hermes Inc. grew its stake in shares of ADT by 15.8% during the 4th quarter. Federated Hermes Inc. now owns 10,600 shares of the security and automation business’s stock valued at $73,000 after acquiring an additional 1,449 shares during the period. Finally, Chicago Partners Investment Group LLC purchased a new stake in ADT in the 4th quarter worth approximately $74,000. 87.22% of the stock is currently owned by institutional investors.

ADT Trading Up 0.9%

ADT stock opened at $8.23 on Tuesday. ADT Inc. has a 12-month low of $6.53 and a 12-month high of $8.71. The company has a current ratio of 0.81, a quick ratio of 0.64 and a debt-to-equity ratio of 1.93. The firm has a market capitalization of $6.88 billion, a price-to-earnings ratio of 8.94 and a beta of 1.29. The firm has a 50 day moving average of $8.08 and a 200 day moving average of $7.64.

ADT (NYSE:ADT) last posted its quarterly earnings results on Thursday, April 24th. The security and automation business reported $0.21 earnings per share for the quarter, topping the consensus estimate of $0.20 by $0.01. ADT had a return on equity of 17.77% and a net margin of 18.18%. The business had revenue of $1.27 billion during the quarter, compared to the consensus estimate of $1.25 billion. During the same period in the prior year, the company posted $0.16 EPS. The firm’s revenue for the quarter was up 6.5% compared to the same quarter last year. As a group, research analysts predict that ADT Inc. will post 0.7 earnings per share for the current year.

ADT Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 8th. Shareholders of record on Thursday, June 12th will be paid a $0.055 dividend. The ex-dividend date is Thursday, June 12th. This represents a $0.22 annualized dividend and a yield of 2.67%. ADT’s payout ratio is 37.93%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on ADT shares. Barclays raised shares of ADT from an “underweight” rating to an “equal weight” rating and increased their target price for the stock from $7.00 to $9.00 in a report on Friday, April 4th. Royal Bank of Canada reissued a “sector perform” rating and issued a $9.00 target price on shares of ADT in a report on Monday, April 21st.

Insiders Place Their Bets

In other news, major shareholder Apollo Management Holdings Gp, sold 50,000,000 shares of the stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $8.02, for a total transaction of $401,000,000.00. Following the completion of the transaction, the insider now directly owns 228,650,366 shares in the company, valued at approximately $1,833,775,935.32. This represents a 17.94% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.70% of the stock is currently owned by corporate insiders.

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.