OppenheimerFunds Inc. Has $36.17 Million Stake in J2 Global Inc (JCOM)
OppenheimerFunds Inc. grew its stake in J2 Global Inc (NASDAQ:JCOM) by 2.7% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 417,643 shares of the technology company’s stock after purchasing an additional 11,122 shares during the period. OppenheimerFunds Inc. owned approximately 0.85% of J2 Global worth $36,173,000 at the end of the most recent reporting period.
Other large investors also recently bought and sold shares of the company. Itau Unibanco Holding S.A. bought a new stake in shares of J2 Global during the 2nd quarter worth approximately $194,000. World Asset Management Inc bought a new stake in shares of J2 Global during the 2nd quarter worth approximately $208,000. Hsbc Holdings PLC bought a new stake in shares of J2 Global during the 1st quarter worth approximately $213,000. West Branch Capital LLC bought a new stake in shares of J2 Global during the 2nd quarter worth approximately $285,000. Finally, Commonwealth Equity Services LLC lifted its stake in shares of J2 Global by 39.5% during the 1st quarter. Commonwealth Equity Services LLC now owns 4,500 shares of the technology company’s stock worth $355,000 after acquiring an additional 1,274 shares during the last quarter. 99.77% of the stock is owned by institutional investors and hedge funds.
JCOM has been the subject of a number of research analyst reports. Citigroup decreased their price target on J2 Global from $88.00 to $86.00 and set a “neutral” rating for the company in a research note on Monday, August 13th. BidaskClub lowered J2 Global from a “hold” rating to a “sell” rating in a research note on Wednesday, August 22nd. Finally, Robert W. Baird reissued a “buy” rating and set a $92.00 price target on shares of J2 Global in a research note on Monday, August 13th. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the company. J2 Global presently has an average rating of “Hold” and a consensus target price of $92.67.
Shares of JCOM stock opened at $82.82 on Thursday. J2 Global Inc has a 52-week low of $70.27 and a 52-week high of $91.58. The company has a debt-to-equity ratio of 0.98, a current ratio of 2.17 and a quick ratio of 2.17. The company has a market cap of $4.04 billion, a P/E ratio of 14.96, a price-to-earnings-growth ratio of 1.77 and a beta of 0.88.
J2 Global (NASDAQ:JCOM) last issued its quarterly earnings results on Thursday, August 9th. The technology company reported $1.50 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.44 by $0.06. J2 Global had a return on equity of 26.39% and a net margin of 11.19%. The firm had revenue of $287.89 million during the quarter, compared to analyst estimates of $299.59 million. During the same period last year, the company earned $1.33 EPS. J2 Global’s quarterly revenue was up 5.4% compared to the same quarter last year. research analysts expect that J2 Global Inc will post 5.79 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 4th. Shareholders of record on Monday, August 20th were issued a dividend of $0.425 per share. This is an increase from J2 Global’s previous quarterly dividend of $0.42. This represents a $1.70 annualized dividend and a yield of 2.05%. The ex-dividend date of this dividend was Friday, August 17th. J2 Global’s dividend payout ratio (DPR) is presently 31.42%.
J2 Global Profile
j2 Global, Inc, together with its subsidiaries, engages in the provision of Internet services worldwide. It operates through two segments, Cloud Services and Digital Media. The Cloud Services segment offers cloud services to sole proprietors, small to medium-sized businesses and enterprises, and government organizations.
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