ADTRAN Holdings, Inc. (NASDAQ:ADTN) Plans Quarterly Dividend of $0.09

ADTRAN Holdings, Inc. (NASDAQ:ADTNGet Rating) announced a quarterly dividend on Friday, August 5th, Wall Street Journal reports. Investors of record on Thursday, August 18th will be given a dividend of 0.09 per share by the communications equipment provider on Thursday, September 1st. This represents a $0.36 dividend on an annualized basis and a yield of 1.51%. The ex-dividend date is Wednesday, August 17th.

ADTRAN has a dividend payout ratio of 33.0% indicating that its dividend is sufficiently covered by earnings. Analysts expect ADTRAN to earn $1.17 per share next year, which means the company should continue to be able to cover its $0.36 annual dividend with an expected future payout ratio of 30.8%.

ADTRAN Stock Performance

Shares of ADTN stock opened at $23.84 on Friday. The stock’s fifty day moving average is $20.23 and its two-hundred day moving average is $19.35. ADTRAN has a fifty-two week low of $16.30 and a fifty-two week high of $25.29.

ADTRAN (NASDAQ:ADTNGet Rating) last posted its quarterly earnings results on Wednesday, August 3rd. The communications equipment provider reported $0.19 EPS for the quarter, topping the consensus estimate of $0.12 by $0.07. ADTRAN had a positive return on equity of 4.69% and a negative net margin of 2.20%. During the same quarter last year, the firm posted $0.14 EPS. On average, equities analysts predict that ADTRAN will post 0.47 earnings per share for the current year.

Institutional Trading of ADTRAN

A number of large investors have recently made changes to their positions in the stock. Envestnet Asset Management Inc. raised its holdings in shares of ADTRAN by 3.3% in the 1st quarter. Envestnet Asset Management Inc. now owns 18,255 shares of the communications equipment provider’s stock worth $337,000 after purchasing an additional 585 shares during the period. JPMorgan Chase & Co. grew its stake in ADTRAN by 1.5% during the 1st quarter. JPMorgan Chase & Co. now owns 277,080 shares of the communications equipment provider’s stock valued at $5,112,000 after purchasing an additional 4,148 shares in the last quarter. Raymond James & Associates grew its position in shares of ADTRAN by 5.3% in the 1st quarter. Raymond James & Associates now owns 19,939 shares of the communications equipment provider’s stock worth $368,000 after acquiring an additional 995 shares in the last quarter. Citigroup Inc. grew its position in shares of ADTRAN by 7.5% in the 1st quarter. Citigroup Inc. now owns 51,167 shares of the communications equipment provider’s stock worth $944,000 after acquiring an additional 3,579 shares in the last quarter. Finally, MetLife Investment Management LLC grew its position in shares of ADTRAN by 51.8% in the 1st quarter. MetLife Investment Management LLC now owns 25,302 shares of the communications equipment provider’s stock worth $467,000 after acquiring an additional 8,632 shares in the last quarter. Institutional investors and hedge funds own 94.06% of the company’s stock.

Analysts Set New Price Targets

ADTN has been the subject of a number of analyst reports. Needham & Company LLC assumed coverage on ADTRAN in a research report on Thursday, July 14th. They set a “buy” rating and a $28.00 price objective for the company. Rosenblatt Securities boosted their price objective on ADTRAN from $25.00 to $28.00 and gave the company a “buy” rating in a research note on Monday, July 11th. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, ADTRAN has an average rating of “Moderate Buy” and an average price target of $27.17.

ADTRAN Company Profile

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ADTRAN Holdings, Inc, through its subsidiaries, provides end-to-end fiber networking solutions for communications service provider, enterprises, and government customers in the United States, Germany, the United Kingdom, Mexico, and internationally. It operates through two segments, Network Solutions, and Services & Support.

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Dividend History for ADTRAN (NASDAQ:ADTN)

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