Bristol Advisors LLC grew its stake in shares of Universal Display Co. (NASDAQ:OLED) by 120.0% during the fourth quarter, HoldingsChannel reports. The firm owned 11,000 shares of the semiconductor company’s stock after purchasing an additional 6,000 shares during the quarter. Universal Display accounts for approximately 1.2% of Bristol Advisors LLC’s holdings, making the stock its 20th biggest position. Bristol Advisors LLC’s holdings in Universal Display were worth $1,899,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently made changes to their positions in the company. Mitra Capital LLC bought a new stake in Universal Display during the second quarter worth about $109,000. BNP Paribas Arbitrage SA boosted its stake in Universal Display by 79.4% during the second quarter. BNP Paribas Arbitrage SA now owns 1,536 shares of the semiconductor company’s stock worth $168,000 after acquiring an additional 680 shares in the last quarter. CIBC Asset Management Inc bought a new stake in Universal Display during the third quarter worth about $205,000. Ballentine Partners LLC bought a new stake in Universal Display during the third quarter worth about $209,000. Finally, Jarislowsky Fraser Ltd bought a new stake in Universal Display during the third quarter worth about $212,000. 64.87% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Universal Display Co. (NASDAQ OLED) traded up $5.20 during trading on Friday, reaching $197.80. 574,000 shares of the company’s stock traded hands, compared to its average volume of 920,612. The stock has a market capitalization of $9,320.00, a PE ratio of 94.64 and a beta of 1.07. Universal Display Co. has a twelve month low of $56.15 and a twelve month high of $198.30.
The company also recently announced a quarterly dividend, which was paid on Friday, December 29th. Shareholders of record on Friday, December 15th were issued a $0.03 dividend. The ex-dividend date was Thursday, December 14th. This represents a $0.12 annualized dividend and a yield of 0.06%. Universal Display’s dividend payout ratio (DPR) is presently 5.74%.
In other news, Chairman Sherwin I. Seligsohn sold 50,000 shares of the business’s stock in a transaction that occurred on Friday, November 3rd. The shares were sold at an average price of $150.00, for a total transaction of $7,500,000.00. Following the completion of the transaction, the chairman now directly owns 205,170 shares of the company’s stock, valued at $30,775,500. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Julia J. Brown sold 10,000 shares of the business’s stock in a transaction that occurred on Friday, November 3rd. The shares were sold at an average price of $150.00, for a total transaction of $1,500,000.00. Following the transaction, the insider now directly owns 152,932 shares of the company’s stock, valued at $22,939,800. The disclosure for this sale can be found here. Insiders sold 146,734 shares of company stock valued at $23,349,769 over the last ninety days. Corporate insiders own 5.20% of the company’s stock.
Several research firms recently commented on OLED. Zacks Investment Research lowered shares of Universal Display from a “buy” rating to a “hold” rating in a research note on Tuesday, November 14th. Evercore ISI began coverage on shares of Universal Display in a research note on Thursday, November 30th. They set an “outperform” rating and a $225.00 price objective on the stock. Cowen set a $140.00 price objective on shares of Universal Display and gave the stock a “buy” rating in a research note on Wednesday, October 11th. Needham & Company LLC reissued a “hold” rating on shares of Universal Display in a research note on Friday, November 3rd. Finally, Deutsche Bank boosted their price objective on shares of Universal Display to $150.00 and gave the stock a “buy” rating in a research note on Tuesday, October 31st. Nine equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $161.50.
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Universal Display Profile
Universal Display Corporation is engaged in the research, development and commercialization of organic light emitting diode (OLED), technologies and materials for use in display and solid-state lighting applications. The Company also supplies its OLED materials to manufacturers of OLED displays and lighting products for evaluation and for use in product development and for pre-commercial activities, and it also provides technical assistance and support to these manufacturers.
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