AudioCodes (AUDC) Declares $0.18 Dividend

AudioCodes said on February 7, 2023 that its board of directors declared a regular semi-annual dividend of $0.18 per share ($0.36 annualized). Shareholders of record as of February 17, 2023 will receive the payment on March 7, 2023. Previously, the company paid $0.18 per share.

At the current share price of $17.75 / share, the stock's dividend yield is 2.03%. Looking back five years and taking a sample every week, the average dividend yield has been 1.29%, the lowest has been 0.56%, and the highest has been 2.14%. The standard deviation of yields is 0.39 (n=214).

The current dividend yield is 1.91 standard deviations above the historical average.

Additionally, the company's dividend payout ratio is 0.40. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.

The company's 3-Year dividend growth rate is 0.44%, demonstrating that it has increased its dividend over time.

Analyst Price Forecast Suggests 31.02% Upside

As of February 10, 2023, the average one-year price target for AudioCodes is $23.26. The forecasts range from a low of $17.17 to a high of $33.60. The average price target represents an increase of 31.02% from its latest reported closing price of $17.75.

The projected annual revenue for AudioCodes is $312MM, an increase of 13.52%. The projected annual EPS is $1.63, an increase of 82.12%.

What is the Fund Sentiment?

There are 149 funds or institutions reporting positions in AudioCodes. This is a decrease of 18 owner(s) or 10.78% in the last quarter. Average portfolio weight of all funds dedicated to AUDC is 0.16%, a decrease of 6.93%. Total shares owned by institutions decreased in the last three months by 4.85% to 15,670K shares. The put/call ratio of AUDC is 1.99, indicating a bearish outlook.

What are large shareholders doing?

Global Alpha Capital Management holds 2,012K shares representing 6.33% ownership of the company. In it's prior filing, the firm reported owning 1,948K shares, representing an increase of 3.19%. The firm decreased its portfolio allocation in AUDC by 17.73% over the last quarter.

William Blair Investment Management holds 1,502K shares representing 4.73% ownership of the company. In it's prior filing, the firm reported owning 1,408K shares, representing an increase of 6.26%. The firm decreased its portfolio allocation in AUDC by 15.31% over the last quarter.

Meitav Dash Investments holds 1,176K shares representing 3.70% ownership of the company. In it's prior filing, the firm reported owning 1,226K shares, representing a decrease of 4.30%. The firm decreased its portfolio allocation in AUDC by 26.69% over the last quarter.

Copeland Capital Management holds 1,109K shares representing 3.49% ownership of the company. In it's prior filing, the firm reported owning 1,634K shares, representing a decrease of 47.30%. The firm decreased its portfolio allocation in AUDC by 55.49% over the last quarter.

Phoenix Holdings holds 875K shares representing 2.75% ownership of the company. In it's prior filing, the firm reported owning 870K shares, representing an increase of 0.64%. The firm decreased its portfolio allocation in AUDC by 36.66% over the last quarter.

Audiocodes Background Information
(This description is provided by the company.)

AudioCodes Ltd. is a provider of advanced communications software, products and productivity solutions. Its services enable enterprises and service providers to build and operate all-IP voice networks for unified communications, contact centers and hosted business services.

This story originally appeared on Fintel.