Swiss National Bank Increases Stake in ADTRAN Holdings, Inc. (NASDAQ:ADTN)

Swiss National Bank lifted its stake in shares of ADTRAN Holdings, Inc. (NASDAQ:ADTNGet Rating) by 2.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 177,578 shares of the communications equipment provider’s stock after acquiring an additional 3,900 shares during the period. Swiss National Bank owned 0.23% of ADTRAN worth $3,337,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of ADTN. BlackRock Inc. grew its position in ADTRAN by 42.5% in the third quarter. BlackRock Inc. now owns 11,571,646 shares of the communications equipment provider’s stock valued at $226,571,000 after acquiring an additional 3,450,328 shares in the last quarter. Vanguard Group Inc. grew its position in shares of ADTRAN by 43.9% during the third quarter. Vanguard Group Inc. now owns 7,539,783 shares of the communications equipment provider’s stock worth $147,629,000 after buying an additional 2,298,501 shares in the last quarter. Bank of New York Mellon Corp grew its position in shares of ADTRAN by 2.0% during the third quarter. Bank of New York Mellon Corp now owns 3,005,536 shares of the communications equipment provider’s stock worth $58,847,000 after buying an additional 59,009 shares in the last quarter. State Street Corp grew its position in shares of ADTRAN by 40.6% during the third quarter. State Street Corp now owns 2,328,697 shares of the communications equipment provider’s stock worth $45,596,000 after buying an additional 672,282 shares in the last quarter. Finally, Fuller & Thaler Asset Management Inc. grew its position in shares of ADTRAN by 0.8% during the first quarter. Fuller & Thaler Asset Management Inc. now owns 2,155,949 shares of the communications equipment provider’s stock worth $39,777,000 after buying an additional 16,212 shares in the last quarter. 85.14% of the stock is currently owned by hedge funds and other institutional investors.

ADTRAN Trading Up 4.9 %

Shares of ADTN opened at $9.11 on Tuesday. The business’s 50-day moving average price is $11.71 and its 200 day moving average price is $16.26. The stock has a market capitalization of $716.55 million, a P/E ratio of -18.98 and a beta of 1.37. ADTRAN Holdings, Inc. has a 1-year low of $7.90 and a 1-year high of $25.47.

ADTRAN Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 6th. Shareholders of record on Tuesday, May 23rd will be paid a dividend of $0.09 per share. The ex-dividend date of this dividend is Monday, May 22nd. This represents a $0.36 annualized dividend and a yield of 3.95%. ADTRAN’s dividend payout ratio (DPR) is presently -75.00%.

Analyst Upgrades and Downgrades

A number of research firms have commented on ADTN. TheStreet downgraded shares of ADTRAN from a “c-” rating to a “d+” rating in a report on Thursday, May 11th. Northland Securities downgraded shares of ADTRAN from an “outperform” rating to a “market perform” rating and set a $13.00 price objective for the company. in a report on Wednesday, April 12th. Needham & Company LLC cut their target price on ADTRAN from $28.00 to $21.00 and set a “buy” rating on the stock in a research note on Wednesday, April 12th. Cowen cut their target price on ADTRAN from $34.00 to $31.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 22nd. Finally, Argus cut their target price on ADTRAN from $30.00 to $16.00 in a research note on Monday, May 15th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, ADTRAN currently has an average rating of “Hold” and a consensus price target of $22.63.

ADTRAN Company Profile

(Get Rating)

ADTRAN Holdings, Inc develops and provides network access solutions. It is a global provider of open, disaggregated networking and communications equipment that enable voice, data, video and internet communications across any network infrastructure. The company was founded in 1985 and is headquartered in Huntsville, AL.

Further Reading

Institutional Ownership by Quarter for ADTRAN (NASDAQ:ADTN)

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