Blair William & Co. IL Lowers Stock Position in Iridium Communications Inc. (NASDAQ:IRDM)

Blair William & Co. IL decreased its position in Iridium Communications Inc. (NASDAQ:IRDM) by 10.2% in the fourth quarter, Holdings Channel reports. The institutional investor owned 261,138 shares of the technology company’s stock after selling 29,813 shares during the period. Blair William & Co. IL’s holdings in Iridium Communications were worth $7,578,000 as of its most recent filing with the SEC.

A number of other large investors have also modified their holdings of IRDM. Nordea Investment Management AB increased its stake in shares of Iridium Communications by 30.2% in the 4th quarter. Nordea Investment Management AB now owns 248,602 shares of the technology company’s stock valued at $7,264,000 after purchasing an additional 57,690 shares in the last quarter. Steward Partners Investment Advisory LLC increased its position in shares of Iridium Communications by 376.3% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 4,858 shares of the technology company’s stock valued at $141,000 after buying an additional 3,838 shares in the last quarter. SBI Securities Co. Ltd. acquired a new position in shares of Iridium Communications during the 4th quarter worth approximately $37,000. Inspire Investing LLC lifted its position in shares of Iridium Communications by 185.7% during the 4th quarter. Inspire Investing LLC now owns 43,265 shares of the technology company’s stock valued at $1,256,000 after buying an additional 28,119 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in Iridium Communications by 3.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,093,223 shares of the technology company’s stock valued at $31,725,000 after acquiring an additional 37,371 shares during the period. Institutional investors and hedge funds own 84.36% of the company’s stock.

Insider Activity at Iridium Communications

In other news, Director Thomas Fitzpatrick sold 12,500 shares of the stock in a transaction that occurred on Friday, January 10th. The shares were sold at an average price of $28.53, for a total value of $356,625.00. Following the completion of the sale, the director now owns 241,030 shares of the company’s stock, valued at $6,876,585.90. This represents a 4.93 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 2.00% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on IRDM shares. Barclays decreased their price objective on shares of Iridium Communications from $45.00 to $38.00 and set an “overweight” rating on the stock in a report on Monday, March 10th. Cantor Fitzgerald initiated coverage on shares of Iridium Communications in a research note on Friday, January 24th. They issued an “overweight” rating and a $40.00 price target on the stock. Finally, StockNews.com lowered Iridium Communications from a “buy” rating to a “hold” rating in a research note on Saturday.

Iridium Communications Stock Down 6.6 %

Shares of NASDAQ IRDM opened at $27.54 on Friday. The stock has a market cap of $3.00 billion, a PE ratio of 28.99, a P/E/G ratio of 1.28 and a beta of 0.70. The company has a current ratio of 1.73, a quick ratio of 1.25 and a debt-to-equity ratio of 3.05. Iridium Communications Inc. has a 12-month low of $24.14 and a 12-month high of $35.85. The company has a 50-day moving average of $29.52 and a 200 day moving average of $29.45.

Iridium Communications (NASDAQ:IRDM) last posted its quarterly earnings results on Thursday, February 13th. The technology company reported $0.31 EPS for the quarter, beating the consensus estimate of $0.15 by $0.16. The firm had revenue of $212.99 million during the quarter, compared to analysts’ expectations of $203.78 million. Iridium Communications had a return on equity of 15.66% and a net margin of 13.58%. As a group, sell-side analysts predict that Iridium Communications Inc. will post 0.89 EPS for the current fiscal year.

Iridium Communications Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 17th will be given a dividend of $0.14 per share. The ex-dividend date is Monday, March 17th. This represents a $0.56 annualized dividend and a dividend yield of 2.03%. Iridium Communications’s payout ratio is 58.95%.

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.