Charles Schwab Investment Management Inc. Grows Position in Iridium Communications Inc. (NASDAQ:IRDM)

Charles Schwab Investment Management Inc. raised its holdings in shares of Iridium Communications Inc. (NASDAQ:IRDM) by 3.5% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 1,093,223 shares of the technology company’s stock after purchasing an additional 37,371 shares during the period. Charles Schwab Investment Management Inc.’s holdings in Iridium Communications were worth $31,725,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Nordea Investment Management AB lifted its stake in shares of Iridium Communications by 30.2% during the 4th quarter. Nordea Investment Management AB now owns 248,602 shares of the technology company’s stock worth $7,264,000 after purchasing an additional 57,690 shares during the last quarter. Impax Asset Management Group plc bought a new position in Iridium Communications in the third quarter worth about $697,000. Thrivent Financial for Lutherans lifted its position in shares of Iridium Communications by 19.8% during the third quarter. Thrivent Financial for Lutherans now owns 130,370 shares of the technology company’s stock valued at $3,970,000 after buying an additional 21,522 shares during the last quarter. SBI Securities Co. Ltd. bought a new stake in shares of Iridium Communications in the 4th quarter valued at about $37,000. Finally, Inspire Investing LLC grew its position in shares of Iridium Communications by 185.7% in the 4th quarter. Inspire Investing LLC now owns 43,265 shares of the technology company’s stock worth $1,256,000 after buying an additional 28,119 shares during the last quarter. Institutional investors own 84.36% of the company’s stock.

Insider Activity at Iridium Communications

In related news, Director Thomas Fitzpatrick sold 12,500 shares of Iridium Communications stock in a transaction 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 sale, the director now owns 241,030 shares of the company’s stock, valued at approximately $6,876,585.90. This trade represents a 4.93 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.00% of the stock is owned by company insiders.

Iridium Communications Stock Performance

IRDM opened at $27.59 on Monday. The firm has a 50 day moving average of $29.57 and a two-hundred day moving average of $29.37. The firm has a market capitalization of $3.00 billion, a PE ratio of 29.04, 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.

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 company had revenue of $212.99 million for the quarter, compared to analyst estimates of $203.78 million. Iridium Communications had a net margin of 13.58% and a return on equity of 15.66%. On average, analysts anticipate 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 will be paid on Monday, March 31st. Stockholders of record on Monday, March 17th will be given a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a dividend yield of 2.03%. The ex-dividend date is Monday, March 17th. Iridium Communications’s dividend payout ratio (DPR) is presently 58.95%.

Analysts Set New Price Targets

A number of equities research analysts recently commented on IRDM shares. Cantor Fitzgerald initiated coverage on shares of Iridium Communications in a research report on Friday, January 24th. They set an “overweight” rating and a $40.00 target price for the company. StockNews.com lowered Iridium Communications from a “buy” rating to a “hold” rating in a report on Thursday. Finally, Barclays dropped their target price on Iridium Communications from $45.00 to $38.00 and set an “overweight” rating on the stock in a research note on Monday, March 10th.

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.