Adtran Inc. (ADTN) Position Boosted by BlackRock Institutional Trust Company N.A.

BlackRock Institutional Trust Company N.A. boosted its position in shares of Adtran Inc. (NASDAQ:ADTN) by 1.3% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,240,179 shares of the company’s stock after buying an additional 16,306 shares during the period. BlackRock Institutional Trust Company N.A. owned 2.52% of Adtran worth $25,076,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Los Angeles Capital Management & Equity Research Inc. purchased a new position in Adtran during the first quarter worth $200,000. BlackRock Group LTD raised its position in Adtran by 6.6% in the first quarter. BlackRock Group LTD now owns 67,162 shares of the company’s stock worth $1,358,000 after buying an additional 4,159 shares during the last quarter. EverPoint Asset Management LLC purchased a new position in Adtran during the fourth quarter worth $1,593,000. GLG Partners LP purchased a new position in Adtran during the fourth quarter worth $1,980,000. Finally, Prudential Financial Inc. raised its position in Adtran by 6.0% in the first quarter. Prudential Financial Inc. now owns 122,101 shares of the company’s stock worth $2,469,000 after buying an additional 6,900 shares during the last quarter.

Adtran Inc. (NASDAQ:ADTN) traded down 0.27% during mid-day trading on Thursday, reaching $18.15. 359,024 shares of the company were exchanged. The company has a market capitalization of $886.28 million and a PE ratio of 32.18. The stock has a 50-day moving average price of $18.44 and a 200 day moving average price of $18.80. Adtran Inc. has a one year low of $13.92 and a one year high of $21.43.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 11th. Stockholders of record on Thursday, July 28th will be given a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.98%. The ex-dividend date of this dividend is Tuesday, July 26th.

A number of research firms recently weighed in on ADTN. MKM Partners raised their price target on shares of Adtran from $23.00 to $24.00 and gave the company a “buy” rating in a research report on Thursday, April 14th. Zacks Investment Research lowered shares of Adtran from a “buy” rating to a “hold” rating in a research report on Tuesday, June 14th. Northland Securities lowered shares of Adtran from an “outperform” rating to a “market perform” rating and set a $20.00 price target on the stock. in a research report on Wednesday, April 13th. Needham & Company LLC reissued a “buy” rating and set a $22.00 price target (up from $21.00) on shares of Adtran in a research report on Thursday, April 14th. Finally, Stifel Nicolaus raised their price target on shares of Adtran from $21.00 to $25.00 and gave the company a “buy” rating in a research report on Thursday, April 14th. Three research analysts have rated the stock with a sell rating, two have given a hold rating and six have issued a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $22.05.

ADTRAN, Inc is a global provider of networking and communications equipment. The Company’s solutions enable voice, data, video and Internet communications across a variety of network infrastructures. The Company operates through two segments: the Carrier Networks Division and the Enterprise Networks Division.