UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Sells 30,582 Shares of Iridium Communications Inc. (NASDAQ:IRDM)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC trimmed its position in shares of Iridium Communications Inc. (NASDAQ:IRDM - Free Report) by 6.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 464,506 shares of the technology company's stock after selling 30,582 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned approximately 0.41% of Iridium Communications worth $13,480,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in IRDM. JPMorgan Chase & Co. grew its holdings in Iridium Communications by 1.6% during the 4th quarter. JPMorgan Chase & Co. now owns 631,852 shares of the technology company's stock worth $18,336,000 after acquiring an additional 10,195 shares in the last quarter. Teacher Retirement System of Texas grew its holdings in Iridium Communications by 369.5% during the 4th quarter. Teacher Retirement System of Texas now owns 69,562 shares of the technology company's stock worth $2,019,000 after acquiring an additional 54,747 shares in the last quarter. Steward Partners Investment Advisory LLC grew its holdings in Iridium Communications by 376.3% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 4,858 shares of the technology company's stock worth $141,000 after acquiring an additional 3,838 shares in the last quarter. Raymond James Financial Inc. acquired a new position in Iridium Communications during the 4th quarter worth $17,613,000. Finally, SBI Securities Co. Ltd. acquired a new position in Iridium Communications during the 4th quarter worth $37,000. 84.36% of the stock is owned by institutional investors and hedge funds.

Iridium Communications Stock Down 0.9%

Shares of IRDM traded down $0.23 during mid-day trading on Friday, reaching $25.34. The company's stock had a trading volume of 1,432,433 shares, compared to its average volume of 1,159,833. The company has a market cap of $2.74 billion, a price-to-earnings ratio of 26.67, a price-to-earnings-growth ratio of 1.28 and a beta of 0.74. The business has a fifty day moving average of $25.08 and a 200 day moving average of $27.91. The company has a quick ratio of 1.25, a current ratio of 1.73 and a debt-to-equity ratio of 3.05. Iridium Communications Inc. has a 1 year low of $19.91 and a 1 year high of $35.85.

Iridium Communications (NASDAQ:IRDM - Get Free Report) last announced its quarterly earnings data on Tuesday, April 22nd. The technology company reported $0.27 EPS for the quarter, topping analysts' consensus estimates of $0.22 by $0.05. Iridium Communications had a return on equity of 15.66% and a net margin of 13.58%. The firm had revenue of $214.88 million during the quarter, compared to analyst estimates of $211.78 million. During the same period last year, the company posted $0.17 EPS. As a group, analysts forecast that Iridium Communications Inc. will post 0.89 earnings per share for the current fiscal year.

Iridium Communications Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, June 13th will be issued a dividend of $0.14 per share. The ex-dividend date of this dividend is Friday, June 13th. This represents a $0.56 annualized dividend and a dividend yield of 2.21%. Iridium Communications's dividend payout ratio is 52.83%.

Analysts Set New Price Targets

A number of research firms have recently issued reports on IRDM. BWS Financial reduced their price target on shares of Iridium Communications from $30.00 to $25.00 and set a "neutral" rating on the stock in a research report on Wednesday, April 23rd. William Blair upgraded shares of Iridium Communications from a "market perform" rating to an "outperform" rating in a research report on Tuesday, April 22nd. Barclays reduced their price target on shares of Iridium Communications from $45.00 to $38.00 and set an "overweight" rating on the stock in a research report on Monday, March 10th. Oppenheimer began coverage on shares of Iridium Communications in a research report on Monday, May 5th. They issued an "outperform" rating and a $34.00 price target on the stock. Finally, Wall Street Zen downgraded shares of Iridium Communications from a "buy" rating to a "hold" rating in a research report on Thursday, May 1st. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $34.25.

About Iridium Communications

Iridium Communications Inc provides mobile voice and data communications services and products to businesses, the United States and international governments, non-governmental organizations, and consumers worldwide. The company offers postpaid mobile voice and data satellite communications; prepaid mobile voice satellite communications; push-to-talk; broadband data; and Internet of Things (IoT) services.