US Bancorp DE Has $334,000 Holdings in Iridium Communications Inc. (NASDAQ:IRDM)

US Bancorp DE boosted its stake in shares of Iridium Communications Inc. (NASDAQ:IRDMGet Rating) by 4.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,522 shares of the technology company’s stock after purchasing an additional 311 shares during the quarter. US Bancorp DE’s holdings in Iridium Communications were worth $334,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Telemus Capital LLC raised its stake in shares of Iridium Communications by 4.4% in the 3rd quarter. Telemus Capital LLC now owns 5,813 shares of the technology company’s stock valued at $258,000 after buying an additional 247 shares in the last quarter. Institute for Wealth Management LLC. raised its stake in shares of Iridium Communications by 1.8% in the 3rd quarter. Institute for Wealth Management LLC. now owns 14,312 shares of the technology company’s stock valued at $635,000 after buying an additional 256 shares in the last quarter. Creative Planning raised its stake in shares of Iridium Communications by 3.9% in the 2nd quarter. Creative Planning now owns 8,468 shares of the technology company’s stock valued at $318,000 after buying an additional 320 shares in the last quarter. Natixis Advisors L.P. raised its stake in shares of Iridium Communications by 0.9% in the 2nd quarter. Natixis Advisors L.P. now owns 51,776 shares of the technology company’s stock valued at $1,945,000 after buying an additional 438 shares in the last quarter. Finally, Richard P Slaughter Associates Inc raised its stake in shares of Iridium Communications by 1.1% in the 3rd quarter. Richard P Slaughter Associates Inc now owns 46,797 shares of the technology company’s stock valued at $2,076,000 after buying an additional 501 shares in the last quarter. 83.82% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on IRDM. BWS Financial increased their price objective on shares of Iridium Communications from $60.00 to $75.00 and gave the company a “buy” rating in a research note on Monday, January 9th. StockNews.com upgraded shares of Iridium Communications from a “hold” rating to a “buy” rating in a research report on Monday, December 26th. Morgan Stanley increased their target price on shares of Iridium Communications from $50.00 to $64.00 and gave the stock an “overweight” rating in a research report on Monday, October 17th. Barclays cut shares of Iridium Communications from an “overweight” rating to an “equal weight” rating and dropped their target price for the stock from $48.00 to $45.00 in a research report on Wednesday, October 19th. Finally, Raymond James increased their target price on shares of Iridium Communications from $51.00 to $60.00 and gave the stock a “strong-buy” rating in a research report on Friday, October 21st. One analyst has rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $57.60.

Iridium Communications Stock Down 0.5 %

Shares of NASDAQ:IRDM opened at $59.58 on Wednesday. Iridium Communications Inc. has a 12 month low of $31.73 and a 12 month high of $62.48. The company’s 50-day moving average price is $53.66 and its two-hundred day moving average price is $48.48. The company has a quick ratio of 2.52, a current ratio of 2.82 and a debt-to-equity ratio of 1.37. The firm has a market cap of $7.49 billion, a P/E ratio of 1,489.87 and a beta of 1.11.

Iridium Communications Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 30th. Shareholders of record on Wednesday, March 15th will be issued a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a yield of 0.87%. The ex-dividend date of this dividend is Tuesday, March 14th.

Insiders Place Their Bets

In other Iridium Communications news, CAO Timothy Kapalka sold 2,382 shares of the stock in a transaction dated Monday, October 31st. The shares were sold at an average price of $51.25, for a total transaction of $122,077.50. Following the sale, the chief accounting officer now owns 19,896 shares of the company’s stock, valued at approximately $1,019,670. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, CEO Matthew J. Desch sold 2,800 shares of the firm’s stock in a transaction dated Monday, January 9th. The shares were sold at an average price of $59.99, for a total value of $167,972.00. Following the transaction, the chief executive officer now owns 592,291 shares of the company’s stock, valued at approximately $35,531,537.09. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Timothy Kapalka sold 2,382 shares of the firm’s stock in a transaction dated Monday, October 31st. The shares were sold at an average price of $51.25, for a total transaction of $122,077.50. Following the completion of the transaction, the chief accounting officer now directly owns 19,896 shares in the company, valued at approximately $1,019,670. The disclosure for this sale can be found here. Insiders have sold a total of 104,412 shares of company stock valued at $5,627,529 in the last 90 days. 2.50% of the stock is currently owned by insiders.

About Iridium Communications

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Iridium Communications, Inc engages in the provision of global satellite communications services and products. Its products include personal communicators, messengers, and trackers, satellite phones, push-to-talk-devices, broadband, midband, and external terminals, docking stations, apps, and accessories.

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Institutional Ownership by Quarter for Iridium Communications (NASDAQ:IRDM)

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