Iridium Communications Inc. (NASDAQ:IRDM) Shares Sold by Vontobel Holding Ltd.

Vontobel Holding Ltd. lowered its position in Iridium Communications Inc. (NASDAQ:IRDM) by 46.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 7,073 shares of the technology company’s stock after selling 6,084 shares during the quarter. Vontobel Holding Ltd.’s holdings in Iridium Communications were worth $205,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Fifth Third Bancorp boosted its holdings in Iridium Communications by 19.8% in the fourth quarter. Fifth Third Bancorp now owns 2,162 shares of the technology company’s stock valued at $63,000 after acquiring an additional 357 shares during the last quarter. State of Alaska Department of Revenue boosted its position in shares of Iridium Communications by 2.8% in the third quarter. State of Alaska Department of Revenue now owns 13,750 shares of the technology company’s stock worth $418,000 after buying an additional 375 shares during the period. Ballentine Partners LLC boosted its position in shares of Iridium Communications by 6.8% in the fourth quarter. Ballentine Partners LLC now owns 11,731 shares of the technology company’s stock worth $340,000 after buying an additional 750 shares during the period. KBC Group NV boosted its position in shares of Iridium Communications by 25.9% in the third quarter. KBC Group NV now owns 3,796 shares of the technology company’s stock worth $116,000 after buying an additional 781 shares during the period. Finally, GAMMA Investing LLC boosted its position in shares of Iridium Communications by 44.8% in the fourth quarter. GAMMA Investing LLC now owns 3,473 shares of the technology company’s stock worth $101,000 after buying an additional 1,074 shares during the period. Institutional investors and hedge funds own 84.36% of the company’s stock.

Iridium Communications Trading Down 3.2 %

IRDM opened at $31.08 on Friday. The firm has a market capitalization of $3.38 billion, a P/E ratio of 32.72, a P/E/G ratio of 1.30 and a beta of 0.65. The firm’s 50 day moving average is $29.31 and its 200-day moving average is $28.98. Iridium Communications Inc. has a 52-week low of $24.14 and a 52-week high of $35.85. 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 (NASDAQ:IRDM) last posted its quarterly earnings data on Thursday, February 13th. The technology company reported $0.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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%. Analysts expect that Iridium Communications Inc. will post 0.89 EPS for the current fiscal year.

Iridium Communications Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 16th were paid a $0.14 dividend. The ex-dividend date of this dividend was Monday, December 16th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.80%. Iridium Communications’s dividend payout ratio (DPR) is presently 58.95%.

Wall Street Analyst Weigh In

Separately, Cantor Fitzgerald began coverage on shares of Iridium Communications in a research report on Friday, January 24th. They issued an “overweight” rating and a $40.00 price objective for the company.

Insider Buying and Selling

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 completion of the sale, the director now owns 241,030 shares in the company, valued at approximately $6,876,585.90. The trade was a 4.93 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 2.00% of the company’s stock.

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.