Liberty Wealth Management LLC Grows Position in AudioCodes Ltd. (NASDAQ:AUDC)

Liberty Wealth Management LLC grew its stake in AudioCodes Ltd. (NASDAQ:AUDC) by 3,235.4% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,837 shares of the communications equipment provider’s stock after buying an additional 5,662 shares during the period. Liberty Wealth Management LLC’s holdings in AudioCodes were worth $176,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the company. William Blair Investment Management LLC purchased a new stake in AudioCodes during the 2nd quarter valued at about $48,000. Barclays PLC lifted its stake in AudioCodes by 251.0% during the 1st quarter. Barclays PLC now owns 1,632 shares of the communications equipment provider’s stock valued at $44,000 after acquiring an additional 1,167 shares during the period. Citigroup Inc. purchased a new stake in shares of AudioCodes in the 2nd quarter valued at $97,000. Royal Bank of Canada increased its stake in shares of AudioCodes by 161.8% in the first quarter. Royal Bank of Canada now owns 5,968 shares of the communications equipment provider’s stock worth $161,000 after acquiring an additional 3,688 shares during the period. Finally, Cim LLC purchased a new position in shares of AudioCodes during the second quarter worth $206,000. Institutional investors and hedge funds own 42.53% of the company’s stock.

AUDC has been the subject of a number of recent research reports. Needham & Company LLC assumed coverage on AudioCodes in a research note on Monday, June 21st. They set a “buy” rating and a $40.00 price objective for the company. Zacks Investment Research raised AudioCodes from a “strong sell” rating to a “hold” rating in a report on Tuesday, September 28th. Finally, Barclays cut shares of AudioCodes from an “equal weight” rating to an “underweight” rating and dropped their price objective for the stock from $34.00 to $32.00 in a research note on Wednesday, June 30th.

Shares of AUDC stock opened at $35.79 on Thursday. The company has a market capitalization of $1.17 billion, a P/E ratio of 36.90, a P/E/G ratio of 2.16 and a beta of 0.59. AudioCodes Ltd. has a 12-month low of $25.90 and a 12-month high of $36.63. The business’s 50 day moving average is $32.53 and its two-hundred day moving average is $32.12.

AudioCodes (NASDAQ:AUDC) last issued its quarterly earnings results on Monday, July 26th. The communications equipment provider reported $0.37 EPS for the quarter, topping the consensus estimate of $0.36 by $0.01. AudioCodes had a net margin of 14.31% and a return on equity of 21.02%. The company had revenue of $60.58 million during the quarter, compared to analyst estimates of $59.96 million. Equities research analysts anticipate that AudioCodes Ltd. will post 1.25 EPS for the current year.

The company also recently disclosed a Semi-Annual dividend, which was paid on Thursday, August 26th. Investors of record on Wednesday, August 11th were issued a $0.17 dividend. This represents a yield of 1%. This is a boost from AudioCodes’s previous Semi-Annual dividend of $0.16. The ex-dividend date was Tuesday, August 10th. AudioCodes’s payout ratio is presently 29.57%.

AudioCodes Company Profile

AudioCodes Ltd. engages in the development, manufacture, and market of products for transferring voice and data over the internet. Its products include products for Microsoft 365, session border controllers, multi-service business routers, internet protocol phones, digital and analog media gateways, management products and solutions, and voice applications.

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Institutional Ownership by Quarter for AudioCodes (NASDAQ:AUDC)

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