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

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

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

ADTRAN, Inc. (NASDAQ ADTN) traded down 1.54% during trading on Friday, hitting $22.45. The stock had a trading volume of 328,132 shares. The stock’s 50 day moving average price is $21.20 and its 200 day moving average price is $20.90. ADTRAN, Inc. has a 12-month low of $17.55 and a 12-month high of $24.05. The firm has a market cap of $1.08 billion, a P/E ratio of 28.03 and a beta of 0.65.

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

The company also recently declared a quarterly dividend, which will be paid on Thursday, August 17th. Investors of record on Thursday, August 3rd will be issued a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.60%. The ex-dividend date is Tuesday, August 1st. ADTRAN’s dividend payout ratio is currently 43.90%.

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Several brokerages have commented on ADTN. Zacks Investment Research raised ADTRAN from a “hold” rating to a “strong-buy” rating and set a $25.00 price objective on the stock in a report on Friday, July 21st. Northland Securities reissued a “buy” rating on shares of ADTRAN in a report on Friday, July 21st. Cowen and Company reissued a “market perform” rating and issued a $18.00 price objective (up from $16.00) on shares of ADTRAN in a report on Saturday, July 22nd. Needham & Company LLC raised 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. Finally, Argus raised ADTRAN from a “hold” rating to a “buy” rating and set a $25.00 price objective on the stock in a report on Thursday, April 20th. Two research analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $23.43.

Several large investors have recently added to or reduced their stakes in the company. State Street Corp boosted its stake in ADTRAN by 9.6% in the fourth quarter. State Street Corp now owns 1,187,312 shares of the communications equipment provider’s stock worth $26,537,000 after buying an additional 103,899 shares in the last quarter. FMR LLC boosted its stake in ADTRAN by 1.1% in the fourth quarter. FMR LLC now owns 100,051 shares of the communications equipment provider’s stock worth $2,236,000 after buying an additional 1,055 shares in the last quarter. Guggenheim Capital LLC boosted its stake in ADTRAN by 124.0% in the fourth quarter. Guggenheim Capital LLC now owns 25,220 shares of the communications equipment provider’s stock worth $563,000 after buying an additional 13,959 shares in the last quarter. Thrivent Financial for Lutherans boosted its stake in ADTRAN by 5.6% in the fourth quarter. Thrivent Financial for Lutherans now owns 25,970 shares of the communications equipment provider’s stock worth $580,000 after buying an additional 1,370 shares in the last quarter. Finally, Norges Bank purchased a new stake in ADTRAN during the fourth quarter worth $8,783,000. Institutional investors and hedge funds own 90.79% of the company’s stock.

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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