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

Alliancebernstein L.P. cut its holdings in Universal Display Co. (NASDAQ:OLED - Free Report) by 87.7% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund 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 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. CIBC Asset Management Inc lifted its holdings in shares of Universal Display by 5.2% during the 4th quarter. CIBC Asset Management Inc now owns 1,473 shares of the semiconductor company's stock worth $215,000 after acquiring an additional 73 shares during the period. CIBC Private Wealth Group LLC increased its holdings in shares of Universal Display by 5.6% during the 4th quarter. CIBC Private Wealth Group LLC now owns 1,615 shares of the semiconductor company's stock worth $245,000 after buying an additional 85 shares during the last quarter. Arizona State Retirement System raised its position in shares of Universal Display by 0.7% in the 4th quarter. Arizona State Retirement System now owns 13,065 shares of the semiconductor company's stock worth $1,910,000 after buying an additional 88 shares during the period. Commonwealth Equity Services LLC increased its stake in Universal Display by 0.9% during the fourth quarter. Commonwealth Equity Services LLC now owns 10,091 shares of the semiconductor company's stock worth $1,475,000 after acquiring an additional 90 shares during the last quarter. Finally, Louisiana State Employees Retirement System grew its holdings in shares of Universal Display by 0.8% during the 4th quarter. Louisiana State Employees Retirement System now owns 12,300 shares of the semiconductor company's stock worth $1,798,000 after purchasing an additional 100 shares during the period. Hedge funds and other institutional investors own 78.19% of the company's stock.

Universal Display Stock Performance

Shares of NASDAQ:OLED traded up $4.41 during trading hours on Monday, hitting $117.13. 64,149 shares of the company's stock traded hands, compared to its average volume of 547,304. The company's fifty day simple moving average is $142.83 and its two-hundred day simple moving average is $160.75. Universal Display Co. has a 52 week low of $103.70 and a 52 week high of $237.00. The company has a market cap of $5.56 billion, a price-to-earnings ratio of 25.19, a price-to-earnings-growth ratio of 1.61 and a beta of 1.42.

Universal Display (NASDAQ:OLED - Get Free Report) last issued its earnings results on Thursday, February 20th. The semiconductor company reported $1.22 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.08 by $0.14. Universal Display had a return on equity of 15.51% and a net margin of 34.29%. The business had revenue of $162.29 million for the quarter, compared to analysts' expectations of $152.75 million. On average, analysts anticipate that Universal Display Co. will post 4.71 EPS for the current fiscal year.

Universal Display Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 17th were paid a $0.45 dividend. This is a positive change from Universal Display's previous quarterly dividend of $0.40. The ex-dividend date of this dividend was Monday, March 17th. This represents a $1.80 dividend on an annualized basis and a yield of 1.54%. Universal Display's dividend payout ratio (DPR) is currently 38.71%.

Analysts Set New Price Targets

OLED has been the subject of several recent research reports. Needham & Company LLC dropped their price objective 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. The Goldman Sachs Group cut their price objective on shares of Universal Display from $234.00 to $203.00 and set a "buy" rating on the stock in a report on Thursday, February 6th. Citigroup lowered their price target on Universal Display from $200.00 to $162.00 and set a "neutral" rating for the company in a report on Monday, February 10th. Susquehanna lowered 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 note on Friday, February 21st. Finally, Roth Mkm lifted their price target on shares of Universal Display from $207.00 to $213.00 and gave the company a "buy" rating in a report on Friday, February 21st. One research analyst has rated the stock with a sell rating, two have given a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $190.43.

Universal Display 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.