Alliancebernstein L.P. Has $15.01 Million Stake in Universal Display Co. (NASDAQ:OLED)

Alliancebernstein L.P. lowered its position in shares of Universal Display Co. (NASDAQ:OLED) by 87.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 102,677 shares of the semiconductor company’s stock after selling 730,363 shares during the period. Alliancebernstein L.P. owned 0.22% of Universal Display worth $15,011,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in OLED. Pacer Advisors Inc. increased its position in Universal Display by 37.2% during the 4th quarter. Pacer Advisors Inc. now owns 27,246 shares of the semiconductor company’s stock worth $3,983,000 after buying an additional 7,390 shares during the period. Charles Schwab Investment Management Inc. grew its stake in shares of 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 acquiring an additional 7,147 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its position in Universal Display by 95.1% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 189,603 shares of the semiconductor company’s stock worth $27,720,000 after acquiring an additional 92,410 shares during the period. Inspire Investing LLC acquired a new stake in Universal Display in the 4th quarter worth about $462,000. Finally, Sanctuary Advisors LLC bought a new stake in Universal Display in the 3rd quarter valued at about $2,356,000. 78.19% of the stock is owned by institutional investors and hedge funds.

Universal Display Stock Down 5.5 %

Shares of OLED stock opened at $106.60 on Wednesday. Universal Display Co. has a twelve month low of $103.70 and a twelve month high of $237.00. The business has a fifty day simple moving average of $145.20 and a 200 day simple moving average of $163.34. The company has a market cap of $5.06 billion, a P/E ratio of 22.92, a P/E/G ratio of 1.61 and a beta of 1.42.

Universal Display (NASDAQ:OLED) last posted its quarterly earnings results on Thursday, February 20th. The semiconductor company reported $1.22 earnings per share for the quarter, beating analysts’ consensus estimates of $1.08 by $0.14. The company had revenue of $162.29 million for the quarter, compared to the consensus estimate of $152.75 million. Universal Display had a net margin of 34.29% and a return on equity of 15.51%. As a group, equities research analysts anticipate that Universal Display Co. will post 4.71 earnings per share for the current fiscal year.

Universal Display Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, March 17th were issued a dividend of $0.45 per share. The ex-dividend date of this dividend was Monday, March 17th. This is an increase from Universal Display’s previous quarterly dividend of $0.40. This represents a $1.80 annualized dividend and a dividend yield of 1.69%. Universal Display’s dividend payout ratio is 38.71%.

Analysts Set New Price Targets

Several research analysts have recently commented on the stock. Oppenheimer lowered their target price on shares of Universal Display from $220.00 to $200.00 and set an “outperform” rating on the stock in a report on Thursday, January 2nd. Needham & Company LLC lowered their price objective on Universal Display from $215.00 to $170.00 and set a “buy” rating on the stock in a research note on Friday, February 21st. Susquehanna dropped their price objective on Universal Display from $165.00 to $160.00 and set a “neutral” rating for the company in a report on Friday, February 21st. StockNews.com raised Universal Display from a “sell” rating to a “hold” rating in a report on Friday, March 21st. Finally, Roth Mkm raised their price target on Universal Display from $207.00 to $213.00 and gave the stock a “buy” rating in a research report on Friday, February 21st. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $190.43.

Universal Display Company Profile

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.