Vestmark Advisory Solutions Inc. decreased its stake in shares of Universal Display Co. (NASDAQ:OLED – Free Report) by 33.0% in the 4th quarter, Holdings Channel reports. The fund owned 13,954 shares of the semiconductor company’s stock after selling 6,885 shares during the quarter. Vestmark Advisory Solutions Inc.’s holdings in Universal Display were worth $2,040,000 as of its most recent SEC filing.
Other large investors also recently made changes to their positions in the company. Geode Capital Management LLC grew its position in Universal Display by 1.9% in the third quarter. Geode Capital Management LLC now owns 799,352 shares of the semiconductor company’s stock valued at $167,825,000 after purchasing an additional 15,015 shares in the last quarter. Jennison Associates LLC grew its position in Universal Display by 58.2% in the fourth quarter. Jennison Associates LLC now owns 683,822 shares of the semiconductor company’s stock valued at $99,975,000 after purchasing an additional 251,557 shares in the last quarter. Bank of New York Mellon Corp grew its position in Universal Display by 10.7% in the fourth quarter. Bank of New York Mellon Corp now owns 437,592 shares of the semiconductor company’s stock valued at $63,976,000 after purchasing an additional 42,218 shares in the last quarter. Southpoint Capital Advisors LP grew its position in Universal Display by 46.0% in the third quarter. Southpoint Capital Advisors LP now owns 365,000 shares of the semiconductor company’s stock valued at $76,614,000 after purchasing an additional 115,000 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in Universal Display by 2.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 341,019 shares of the semiconductor company’s stock valued at $49,857,000 after purchasing an additional 7,147 shares in the last quarter. Institutional investors own 78.19% of the company’s stock.
Universal Display Stock Performance
NASDAQ OLED opened at $159.74 on Friday. The firm has a 50-day moving average of $148.52 and a 200-day moving average of $172.43. The stock has a market cap of $7.58 billion, a PE ratio of 34.35, a P/E/G ratio of 1.61 and a beta of 1.39. Universal Display Co. has a 52-week low of $140.17 and a 52-week high of $237.00.
Universal Display Increases Dividend
The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 17th will be paid a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.13%. The ex-dividend date of this dividend is Monday, March 17th. This is a boost from Universal Display’s previous quarterly dividend of $0.40. Universal Display’s dividend payout ratio (DPR) is currently 38.71%.
Wall Street Analysts Forecast Growth
OLED has been the subject of a number of analyst reports. Needham & Company LLC decreased their target price on shares of Universal Display from $215.00 to $170.00 and set a “buy” rating for the company in a research report on Friday, February 21st. Susquehanna decreased their target price on shares of Universal Display from $165.00 to $160.00 and set a “neutral” rating for the company in a research report on Friday, February 21st. The Goldman Sachs Group cut their price target on shares of Universal Display from $234.00 to $203.00 and set a “buy” rating for the company in a research note on Thursday, February 6th. Roth Mkm increased their price target on shares of Universal Display from $207.00 to $213.00 and gave the company a “buy” rating in a research note on Friday, February 21st. Finally, StockNews.com cut shares of Universal Display from a “hold” rating to a “sell” rating in a research note on Friday. One research analyst has rated the stock with a sell rating, two have issued a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $190.43.
Read Our Latest Stock Analysis on OLED
About Universal Display
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 in the United States and internationally. The company offers PHOLED technologies and materials for displays and lighting products under the UniversalPHOLED brand.
See Also
- Five stocks we like better than Universal Display
- 10 Best Airline Stocks to Buy
- Is Myers Industries Poised for a Breakout?
- What is a Dividend Harvesting Strategy and How Can Investors Profit from it?
- Is BigBear.ai’s 25% Plunge a False Alarm or Fire Sale?
- What Do S&P 500 Stocks Tell Investors About the Market?
- Broadcom Confirmed Its AI Outlook: Stock to Hit New Highs Soon
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:OLED – Free Report).
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.