Millennium Management LLC Has $21.60 Million Stock Holdings in ADT Inc. (NYSE:ADT)

Millennium Management LLC trimmed its stake in shares of ADT Inc. (NYSE:ADT) by 29.7% in the second quarter, Holdings Channel.com reports. The fund owned 2,842,517 shares of the security and automation business’s stock after selling 1,200,217 shares during the quarter. Millennium Management LLC’s holdings in ADT were worth $21,603,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in ADT. Acadian Asset Management LLC acquired a new stake in ADT during the 2nd quarter valued at approximately $26,000. Altshuler Shaham Ltd bought a new position in ADT during the second quarter worth $30,000. Raleigh Capital Management Inc. acquired a new position in ADT in the fourth quarter valued at $36,000. Duncker Streett & Co. Inc. bought a new stake in ADT during the second quarter valued at $38,000. Finally, Diversify Advisory Services LLC acquired a new stake in ADT during the 2nd quarter worth about $76,000. 87.22% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, Royal Bank of Canada dropped their price objective on ADT from $10.00 to $8.00 and set a “sector perform” rating on the stock in a research note on Friday, August 2nd.

ADT Stock Performance

Shares of ADT stock opened at $7.18 on Friday. The company has a quick ratio of 0.59, a current ratio of 0.75 and a debt-to-equity ratio of 1.98. ADT Inc. has a 52 week low of $5.53 and a 52 week high of $7.92. The firm has a 50 day moving average of $7.24 and a 200-day moving average of $7.10. The company has a market cap of $6.62 billion, a price-to-earnings ratio of 10.26 and a beta of 1.53.

ADT (NYSE:ADT) last posted its quarterly earnings results on Thursday, August 1st. The security and automation business reported $0.17 earnings per share for the quarter, meeting the consensus estimate of $0.17. The firm had revenue of $1.21 billion during the quarter, compared to the consensus estimate of $1.21 billion. ADT had a net margin of 13.83% and a return on equity of 15.45%. The business’s revenue was up 3.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.15 earnings per share. On average, equities analysts forecast that ADT Inc. will post 0.62 earnings per share for the current year.

ADT Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, October 4th. Shareholders of record on Friday, September 13th were issued a $0.055 dividend. The ex-dividend date was Friday, September 13th. This represents a $0.22 annualized dividend and a yield of 3.06%. ADT’s payout ratio is currently 31.43%.

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.