ADT (NYSE:ADT) Reaches New 52-Week High After Dividend Announcement

ADT Inc. (NYSE:ADT)’s share price reached a new 52-week high during mid-day trading on Thursday following a dividend announcement from the company. The company traded as high as $8.33 and last traded at $8.03, with a volume of 3015696 shares trading hands. The stock had previously closed at $7.53.

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

Analysts Set New Price Targets

Several equities research analysts recently weighed in on ADT shares. Morgan Stanley upped their price objective on shares of ADT from $8.50 to $9.00 and gave the stock an “equal weight” rating in a report on Thursday, December 12th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $9.00 price objective on shares of ADT in a report on Wednesday, January 29th.

ADT Stock Up 0.7 %

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 company has a market capitalization of $7.41 billion, a price-to-earnings ratio of 8.89 and a beta of 1.50. The stock’s fifty day simple moving average is $7.33 and its two-hundred day simple moving average is $7.31.

Institutional Investors Weigh In On ADT

A number of institutional investors and hedge funds have recently bought and sold shares of ADT. Creative Planning acquired a new stake in ADT in the 3rd quarter valued at about $78,000. Private Advisor Group LLC acquired a new stake in ADT in the 3rd quarter valued at about $159,000. International Assets Investment Management LLC acquired a new stake in ADT in the 3rd quarter valued at about $157,000. New York State Teachers Retirement System lifted its holdings in ADT by 12.9% in the 3rd quarter. New York State Teachers Retirement System now owns 26,674 shares of the security and automation business’s stock valued at $193,000 after acquiring an additional 3,054 shares during the last quarter. Finally, Innealta Capital LLC lifted its holdings in ADT by 170.5% in the 3rd quarter. Innealta Capital LLC now owns 36,380 shares of the security and automation business’s stock valued at $263,000 after acquiring an additional 22,933 shares during the last quarter. 87.22% of the stock is owned by institutional investors and hedge funds.

ADT Company Profile

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.