ADTRAN, Inc. (ADTN) Shares Sold by California Public Employees Retirement System

California Public Employees Retirement System trimmed its position in shares of ADTRAN, Inc. (NASDAQ:ADTN) by 26.8% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 128,390 shares of the communications equipment provider’s stock after selling 47,060 shares during the quarter. California Public Employees Retirement System owned 0.27% of ADTRAN worth $1,907,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Vident Investment Advisory LLC lifted its holdings in shares of ADTRAN by 77.9% during the 2nd quarter. Vident Investment Advisory LLC now owns 43,934 shares of the communications equipment provider’s stock valued at $652,000 after buying an additional 19,237 shares during the period. Raymond James & Associates bought a new position in shares of ADTRAN during the 2nd quarter valued at $272,000. Laurion Capital Management LP bought a new position in shares of ADTRAN during the 2nd quarter valued at $416,000. Dimensional Fund Advisors LP lifted its holdings in shares of ADTRAN by 5.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,459,427 shares of the communications equipment provider’s stock valued at $51,372,000 after buying an additional 182,298 shares during the period. Finally, Legal & General Group Plc lifted its holdings in shares of ADTRAN by 4.1% during the 2nd quarter. Legal & General Group Plc now owns 102,355 shares of the communications equipment provider’s stock valued at $1,517,000 after buying an additional 4,017 shares during the period. 94.28% of the stock is currently owned by hedge funds and other institutional investors.

NASDAQ:ADTN opened at $13.44 on Thursday. The company has a quick ratio of 1.96, a current ratio of 2.82 and a debt-to-equity ratio of 0.06. The firm has a market capitalization of $646.39 million, a PE ratio of 15.10 and a beta of 0.53. ADTRAN, Inc. has a one year low of $13.05 and a one year high of $23.15.

ADTRAN (NASDAQ:ADTN) last posted its quarterly earnings data on Tuesday, October 16th. The communications equipment provider reported $0.21 EPS for the quarter, topping the consensus estimate of $0.04 by $0.17. The firm had revenue of $140.34 million during the quarter, compared to analyst estimates of $146.00 million. ADTRAN had a negative return on equity of 2.20% and a negative net margin of 3.94%. During the same period in the prior year, the business posted $0.33 EPS. Sell-side analysts expect that ADTRAN, Inc. will post -0.32 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 14th. Stockholders of record on Wednesday, October 31st will be paid a $0.09 dividend. The ex-dividend date of this dividend is Tuesday, October 30th. This represents a $0.36 annualized dividend and a dividend yield of 2.68%. ADTRAN’s dividend payout ratio (DPR) is 40.45%.

Several equities analysts have recently weighed in on ADTN shares. MKM Partners increased their price target on ADTRAN from $21.00 to $22.00 in a report on Thursday, September 13th. ValuEngine raised ADTRAN from a “hold” rating to a “buy” rating in a report on Wednesday, September 12th. BidaskClub raised ADTRAN from a “hold” rating to a “buy” rating in a report on Wednesday, July 18th. Zacks Investment Research raised ADTRAN from a “hold” rating to a “buy” rating and set a $19.00 price target on the stock in a report on Tuesday, October 9th. Finally, Needham & Company LLC lowered their price target on ADTRAN from $18.00 to $17.00 and set a “buy” rating on the stock in a report on Thursday, October 18th. They noted that the move was a valuation call. Eight research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $17.89.

ADTRAN Company Profile

ADTRAN, Inc provides networking and communications equipment worldwide. The company operates through two segments, Network Solutions and Services & Support. It offers access and aggregation solutions, including network management and subscriber services control and orchestration software within a SD-access architecture; SDN-controlled programmable network elements; fiber to the premises and fiber to the node (FTTN) multi-service access nodes (MSAN); fiber aggregation and FTTN MSAN; fiber to the distribution point optical network units; optical line terminals; optical networking edge aggregation; and IP digital subscriber line access multiplexers.

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Institutional Ownership by Quarter for ADTRAN (NASDAQ:ADTN)

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