ADTRAN, Inc. (NASDAQ:ADTN) SVP Michael Foliano sold 24,000 shares of the firm’s stock in a transaction that occurred on Tuesday, July 25th. The stock was sold at an average price of $23.77, for a total transaction of $570,480.00. Following the transaction, the senior vice president now directly owns 5,417 shares of the company’s stock, valued at $128,762.09. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.

Michael Foliano also recently made the following trade(s):

  • On Monday, July 24th, Michael Foliano sold 322 shares of ADTRAN stock. The shares were sold at an average price of $23.70, for a total value of $7,631.40.

ADTRAN, Inc. (ADTN) traded down 1.89% during midday trading on Wednesday, hitting $23.35. The stock had a trading volume of 319,054 shares. The stock has a market capitalization of $1.12 billion, a PE ratio of 29.15 and a beta of 0.62. The stock’s 50-day moving average is $20.69 and its 200-day moving average is $20.85. ADTRAN, Inc. has a 1-year low of $17.55 and a 1-year high of $24.00.

ADTRAN (NASDAQ:ADTN) last announced its quarterly earnings results on Tuesday, July 18th. The communications equipment provider reported $0.30 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.19 by $0.11. ADTRAN had a return on equity of 8.39% and a net margin of 5.68%. The business had revenue of $184.67 million during the quarter, compared to the consensus estimate of $183.05 million. During the same quarter in the prior year, the company posted $0.21 earnings per share. On average, equities research analysts anticipate that ADTRAN, Inc. will post $0.81 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 17th. Shareholders of record on Thursday, August 3rd will be given a $0.09 dividend. The ex-dividend date of this dividend is Tuesday, August 1st. This represents a $0.36 annualized dividend and a yield of 1.54%. ADTRAN’s dividend payout ratio is currently 43.90%.

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Several research firms have recently commented on ADTN. Northland Securities reissued a “buy” rating and issued a $24.00 price objective on shares of ADTRAN in a report on Tuesday, July 4th. Needham & Company LLC increased their price objective on ADTRAN from $24.00 to $25.00 and gave the company a “buy” rating in a report on Thursday, July 20th. Argus raised ADTRAN from a “hold” rating to a “buy” rating and set a $25.00 price objective for the company in a report on Thursday, April 20th. Cowen and Company reissued a “market perform” rating and issued a $18.00 price objective (up previously from $16.00) on shares of ADTRAN in a report on Saturday. Finally, MKM Partners reissued a “buy” rating and issued a $26.50 price objective (down previously from $27.50) on shares of ADTRAN in a report on Monday, April 24th. Two research analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $23.43.

A number of hedge funds and other institutional investors have recently bought and sold shares of ADTN. Eqis Capital Management Inc. raised its stake in shares of ADTRAN by 2.9% in the first quarter. Eqis Capital Management Inc. now owns 13,167 shares of the communications equipment provider’s stock valued at $273,000 after buying an additional 369 shares during the period. Princeton Alpha Management LP acquired a new stake in shares of ADTRAN during the first quarter valued at about $254,000. Geneva Advisors LLC acquired a new stake in shares of ADTRAN during the first quarter valued at about $569,000. Van Berkom & Associates Inc. raised its stake in shares of ADTRAN by 0.5% in the first quarter. Van Berkom & Associates Inc. now owns 2,010,347 shares of the communications equipment provider’s stock valued at $41,715,000 after buying an additional 10,430 shares during the period. Finally, Old Mutual Global Investors UK Ltd. acquired a new stake in shares of ADTRAN during the first quarter valued at about $371,000. 91.49% of the stock is currently owned by institutional investors and hedge funds.

About ADTRAN

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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