Fintel reports that Bialik Leon has filed a 13G/A form with the SEC disclosing ownership of 2.36MM shares of AudioCodes Ltd. (AUDC). This represents 7.4% of the company.
In their previous filing dated January 27, 2022 they reported 2.47MM shares and 7.60% of the company, a decrease in shares of 4.45% and a decrease in total ownership of 0.20% (calculated as current - previous percent ownership).
Analyst Price Forecast Suggests 33.04% Upside
As of February 7, 2023, the average one-year price target for AudioCodes is $23.87. The forecasts range from a low of $18.18 to a high of $33.60. The average price target represents an increase of 33.04% from its latest reported closing price of $17.94.
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 148 funds or institutions reporting positions in AudioCodes. This is a decrease of 18 owner(s) or 10.84% in the last quarter. Average portfolio weight of all funds dedicated to AUDC is 0.16%, a decrease of 7.87%. Total shares owned by institutions decreased in the last three months by 4.29% to 15,589K shares. The put/call ratio of AUDC is 2.08, indicating a bearish outlook.
What are large shareholders doing?
Global Alpha Capital Management holds 1,948K shares representing 6.13% ownership of the company. In it's prior filing, the firm reported owning 1,786K shares, representing an increase of 8.31%. The firm increased its portfolio allocation in AUDC by 0.59% over the last quarter.
William Blair Investment Management holds 1,408K shares representing 4.43% ownership of the company. In it's prior filing, the firm reported owning 1,195K shares, representing an increase of 15.09%. The firm increased its portfolio allocation in AUDC by 24.30% 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 Declares $0.18 Dividend
On August 2, 2022 the company declared a regular semi-annual dividend of $0.18 per share ($0.36 annualized). Shareholders of record as of August 16, 2022 received the payment on August 31, 2022. Previously, the company paid $0.18 per share.
At the current share price of $17.94 / share, the stock's dividend yield is 2.01%. 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 1.86 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.
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.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
