JPMorgan Chase & Co. Sells 24,523 Shares of Universal Display Co. (NASDAQ:OLED)

JPMorgan Chase & Co. decreased its position in Universal Display Co. (NASDAQ:OLEDGet Rating) by 2.9% during the 2nd quarter, Holdings Channel reports. The firm owned 814,080 shares of the semiconductor company’s stock after selling 24,523 shares during the period. JPMorgan Chase & Co.’s holdings in Universal Display were worth $82,335,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Meeder Asset Management Inc. bought a new stake in Universal Display in the first quarter valued at $27,000. TCI Wealth Advisors Inc. boosted its holdings in Universal Display by 5,050.0% in the second quarter. TCI Wealth Advisors Inc. now owns 309 shares of the semiconductor company’s stock valued at $31,000 after acquiring an additional 303 shares in the last quarter. Citizens National Bank Trust Department bought a new stake in Universal Display in the first quarter valued at $32,000. Quadrant Capital Group LLC boosted its holdings in Universal Display by 287.3% in the first quarter. Quadrant Capital Group LLC now owns 213 shares of the semiconductor company’s stock valued at $36,000 after acquiring an additional 158 shares in the last quarter. Finally, Field & Main Bank bought a new stake in Universal Display in the second quarter valued at $40,000. Institutional investors own 71.77% of the company’s stock.

Universal Display Price Performance

OLED opened at $110.74 on Thursday. The stock has a 50-day moving average price of $100.42 and a 200-day moving average price of $110.03. The firm has a market cap of $5.23 billion, a PE ratio of 27.69, a P/E/G ratio of 1.57 and a beta of 1.41. Universal Display Co. has a 1 year low of $89.41 and a 1 year high of $178.75.

Universal Display Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 30th. Stockholders of record on Friday, December 16th will be given a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 1.08%. The ex-dividend date of this dividend is Thursday, December 15th. Universal Display’s dividend payout ratio is presently 30.00%.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on OLED shares. Oppenheimer cut their price target on shares of Universal Display from $150.00 to $135.00 in a report on Friday, November 4th. Citigroup dropped their target price on shares of Universal Display from $150.00 to $135.00 and set a “buy” rating on the stock in a report on Monday. Cowen dropped their target price on shares of Universal Display from $145.00 to $130.00 in a report on Friday, November 4th. Needham & Company LLC dropped their target price on shares of Universal Display from $140.00 to $128.00 and set a “buy” rating on the stock in a report on Friday, November 4th. Finally, The Goldman Sachs Group dropped their target price on shares of Universal Display from $185.00 to $158.00 and set a “buy” rating on the stock in a report on Friday, November 4th. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, Universal Display has a consensus rating of “Moderate Buy” and a consensus target price of $139.56.

About Universal Display

(Get Rating)

Universal Display Corporation engages in the research, development, and commercialization of organic light emitting diode (OLED) technologies and materials for use in display and solid-state lighting applications. It owns, exclusively licenses, or has sole rights to sublicense approximately 5,500 issued and pending patents worldwide.

Featured Stories

Want to see what other hedge funds are holding OLED? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Universal Display Co. (NASDAQ:OLEDGet Rating).

Institutional Ownership by Quarter for Universal Display (NASDAQ:OLED)

Receive News & Ratings for Universal Display Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Universal Display and related companies with MarketBeat.com's FREE daily email newsletter.