Wells Fargo & Company MN lessened its holdings in ADTRAN, Inc. (NASDAQ:ADTN) by 40.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 36,930 shares of the communications equipment provider’s stock after selling 24,810 shares during the quarter. Wells Fargo & Company MN owned approximately 0.08% of ADTRAN worth $763,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of ADTN. OppenheimerFunds Inc. boosted its stake in shares of ADTRAN by 35.7% in the 1st quarter. OppenheimerFunds Inc. now owns 23,037 shares of the communications equipment provider’s stock valued at $478,000 after purchasing an additional 6,061 shares during the last quarter. FMR LLC boosted its stake in ADTRAN by 46.0% during the 1st quarter. FMR LLC now owns 146,031 shares of the communications equipment provider’s stock worth $3,030,000 after acquiring an additional 45,980 shares during the last quarter. Teachers Advisors LLC boosted its stake in ADTRAN by 1.3% during the 1st quarter. Teachers Advisors LLC now owns 86,571 shares of the communications equipment provider’s stock worth $1,796,000 after acquiring an additional 1,145 shares during the last quarter. Legal & General Group Plc boosted its stake in ADTRAN by 0.8% during the 1st quarter. Legal & General Group Plc now owns 84,036 shares of the communications equipment provider’s stock worth $1,745,000 after acquiring an additional 635 shares during the last quarter. Finally, Thrivent Financial For Lutherans boosted its stake in ADTRAN by 5.8% during the 1st quarter. Thrivent Financial For Lutherans now owns 27,470 shares of the communications equipment provider’s stock worth $570,000 after acquiring an additional 1,500 shares during the last quarter. 89.38% of the stock is currently owned by institutional investors.

In other ADTRAN news, SVP Kevin P. Heering sold 9,809 shares of the firm’s stock in a transaction that occurred on Monday, October 23rd. The shares were sold at an average price of $21.60, for a total transaction of $211,874.40. Following the sale, the senior vice president now directly owns 10,162 shares in the company, valued at approximately $219,499.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Raymond R. Schansman sold 48,056 shares of the firm’s stock in a transaction that occurred on Friday, October 20th. The stock was sold at an average price of $21.70, for a total transaction of $1,042,815.20. Following the sale, the senior vice president now owns 11,658 shares in the company, valued at $252,978.60. The disclosure for this sale can be found here. Company insiders own 2.96% of the company’s stock.

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Shares of ADTRAN, Inc. (NASDAQ ADTN) opened at $20.90 on Wednesday. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.43 and a current ratio of 3.36. The company has a market cap of $999.00, a P/E ratio of 22.72, a price-to-earnings-growth ratio of 2.38 and a beta of 0.71. ADTRAN, Inc. has a fifty-two week low of $18.05 and a fifty-two week high of $25.10.

ADTRAN (NASDAQ:ADTN) last announced its earnings results on Tuesday, October 17th. The communications equipment provider reported $0.37 EPS for the quarter, topping the consensus estimate of $0.24 by $0.13. The firm had revenue of $185.11 million for the quarter, compared to the consensus estimate of $185.43 million. ADTRAN had a net margin of 6.05% and a return on equity of 9.05%. equities analysts anticipate that ADTRAN, Inc. will post 0.88 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 15th. Shareholders of record on Wednesday, November 1st will be issued a dividend of $0.09 per share. The ex-dividend date is Tuesday, October 31st. This represents a $0.36 annualized dividend and a yield of 1.72%. ADTRAN’s dividend payout ratio (DPR) is currently 40.45%.

Several research analysts recently weighed in on the stock. Zacks Investment Research raised shares of ADTRAN from a “hold” rating to a “strong-buy” rating and set a $25.00 price objective on the stock in a research note on Friday, July 21st. Northland Securities reissued a “buy” rating on shares of ADTRAN in a research note on Friday, July 21st. Cowen and Company reissued a “market perform” rating and set a $18.00 price objective (up previously from $16.00) on shares of ADTRAN in a research note on Saturday, July 22nd. BidaskClub raised shares of ADTRAN from a “strong sell” rating to a “sell” rating in a research note on Saturday, August 26th. Finally, Needham & Company LLC lifted their price objective on shares of ADTRAN from $25.00 to $26.00 and gave the stock a “buy” rating in a research note on Thursday, August 10th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and five have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $24.29.

ADTRAN Company Profile

ADTRAN, Inc (ADTRAN) is a provider of networking and communications equipment. The Company’s solutions enable voice, data, video and Internet communications across a range of network infrastructures. It operates through two segments: Network Solutions and Services & Support. Network Solutions includes software and hardware products that enable CSPs and enterprise customers to realize a fully connected world.

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Institutional Ownership by Quarter for ADTRAN (NASDAQ:ADTN)

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