Commonwealth Equity Services LLC Buys 729 Shares of Iridium Communications Inc. (NASDAQ:IRDM)

Commonwealth Equity Services LLC increased its stake in Iridium Communications Inc. (NASDAQ:IRDM) by 4.0% in the 4th quarter, Holdings Channel reports. The firm owned 19,060 shares of the technology company’s stock after purchasing an additional 729 shares during the period. Commonwealth Equity Services LLC’s holdings in Iridium Communications were worth $553,000 as of its most recent filing with the SEC.

Other large investors have also recently added to or reduced their stakes in the company. Nordea Investment Management AB grew its position in shares of Iridium Communications by 30.2% in the fourth 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 during the last quarter. Steward Partners Investment Advisory LLC boosted its stake 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 valued at $141,000 after purchasing an additional 3,838 shares during the period. SBI Securities Co. Ltd. acquired a new stake in Iridium Communications in the 4th quarter valued at approximately $37,000. Inspire Investing LLC grew its holdings in Iridium Communications by 185.7% in 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 during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position 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 worth $31,725,000 after buying an additional 37,371 shares during the period. Institutional investors own 84.36% of the company’s stock.

Iridium Communications Price Performance

Shares of IRDM stock opened at $24.59 on Friday. Iridium Communications Inc. has a 12 month low of $24.12 and a 12 month high of $35.85. The company has a market capitalization of $2.67 billion, a P/E ratio of 25.88, a P/E/G ratio of 1.28 and a beta of 0.66. The stock has a 50 day moving average of $29.22 and a two-hundred day moving average of $29.41. 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 (NASDAQ:IRDM) last issued its earnings results on Thursday, February 13th. The technology company reported $0.31 EPS for the quarter, topping 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, equities analysts expect that Iridium Communications Inc. will post 0.89 EPS for the current year.

Iridium Communications Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, March 17th were given a dividend of $0.14 per share. The ex-dividend date of this dividend was Monday, March 17th. This represents a $0.56 annualized dividend and a dividend yield of 2.28%. Iridium Communications’s dividend payout ratio (DPR) is currently 58.95%.

Insider Activity

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

Analyst Upgrades and Downgrades

IRDM has been the subject of several research reports. Barclays reduced their price objective on Iridium Communications from $45.00 to $38.00 and set an “overweight” rating for the company in a research report on Monday, March 10th. StockNews.com cut shares of Iridium Communications from a “buy” rating to a “hold” rating in a research note on Saturday, March 29th. Finally, Cantor Fitzgerald initiated coverage on shares of Iridium Communications in a research report on Friday, January 24th. They issued an “overweight” rating and a $40.00 price target on the stock.

Iridium Communications Company Profile

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.