Charles Schwab Investment Management Inc. Purchases 37,371 Shares of Iridium Communications Inc. (NASDAQ:IRDM)

Charles Schwab Investment Management Inc. raised its position in Iridium Communications Inc. (NASDAQ:IRDM) by 3.5% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,093,223 shares of the technology company’s stock after acquiring an additional 37,371 shares during the quarter. Charles Schwab Investment Management Inc. owned approximately 0.96% of Iridium Communications worth $31,725,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of IRDM. Fifth Third Bancorp grew its position in Iridium Communications by 19.8% during the fourth quarter. Fifth Third Bancorp now owns 2,162 shares of the technology company’s stock valued at $63,000 after buying an additional 357 shares during the period. Ballentine Partners LLC boosted its stake in shares of Iridium Communications by 6.8% during the 4th quarter. Ballentine Partners LLC now owns 11,731 shares of the technology company’s stock worth $340,000 after acquiring an additional 750 shares during the last quarter. KBC Group NV grew its position in shares of Iridium Communications by 25.9% during the 3rd quarter. KBC Group NV now owns 3,796 shares of the technology company’s stock valued at $116,000 after acquiring an additional 781 shares during the period. State of New Jersey Common Pension Fund D increased its stake in shares of Iridium Communications by 1.1% in the 4th quarter. State of New Jersey Common Pension Fund D now owns 76,836 shares of the technology company’s stock worth $2,230,000 after purchasing an additional 866 shares in the last quarter. Finally, GAMMA Investing LLC raised its holdings in Iridium Communications by 44.8% in the 4th quarter. GAMMA Investing LLC now owns 3,473 shares of the technology company’s stock worth $101,000 after purchasing an additional 1,074 shares during the period. 84.36% of the stock is owned by hedge funds and other institutional investors.

Iridium Communications Trading Up 2.7 %

Shares of IRDM stock opened at $27.59 on Monday. The company has a current ratio of 1.73, a quick ratio of 1.25 and a debt-to-equity ratio of 3.05. The stock has a market capitalization of $3.00 billion, a price-to-earnings ratio of 29.04, a price-to-earnings-growth ratio of 1.28 and a beta of 0.70. Iridium Communications Inc. has a 12-month low of $24.14 and a 12-month high of $35.85. The stock’s 50-day moving average price is $29.57 and its 200-day moving average price is $29.37.

Iridium Communications (NASDAQ:IRDM) last released its quarterly earnings data on Thursday, February 13th. The technology company reported $0.31 EPS for the quarter, beating the consensus estimate of $0.15 by $0.16. Iridium Communications had a net margin of 13.58% and a return on equity of 15.66%. The business had revenue of $212.99 million during the quarter, compared to analyst estimates of $203.78 million. Equities research analysts predict that Iridium Communications Inc. will post 0.89 EPS for the current fiscal year.

Iridium Communications Dividend Announcement

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

Analyst Ratings Changes

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

Insiders Place Their Bets

In other Iridium Communications news, Director Thomas Fitzpatrick sold 12,500 shares of the business’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. 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 available at this link. 2.00% of the stock is owned by insiders.

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.