GYL Financial Synergies LLC purchased a new position in shares of QUALCOMM, Inc. (NASDAQ:QCOM) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 2,919 shares of the wireless technology company’s stock, valued at approximately $258,000.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in QCOM. IndexIQ Advisors LLC acquired a new stake in QUALCOMM in the 4th quarter valued at approximately $37,000. Beese Fulmer Investment Management Inc. increased its stake in QUALCOMM by 7.6% during the 4th quarter. Beese Fulmer Investment Management Inc. now owns 19,775 shares of the wireless technology company’s stock worth $1,745,000 after buying an additional 1,400 shares during the period. Signaturefd LLC lifted its holdings in QUALCOMM by 18.2% during the 4th quarter. Signaturefd LLC now owns 10,412 shares of the wireless technology company’s stock worth $919,000 after buying an additional 1,604 shares in the last quarter. Samalin Investment Counsel LLC purchased a new position in QUALCOMM in the 4th quarter valued at approximately $27,000. Finally, Holderness Investments Co. raised its stake in shares of QUALCOMM by 31.8% in the fourth quarter. Holderness Investments Co. now owns 7,732 shares of the wireless technology company’s stock valued at $682,000 after acquiring an additional 1,865 shares in the last quarter. Institutional investors and hedge funds own 77.48% of the company’s stock.
Shares of NASDAQ:QCOM opened at $90.75 on Thursday. QUALCOMM, Inc. has a 12 month low of $51.09 and a 12 month high of $96.17. The firm has a market capitalization of $101.27 billion, a price-to-earnings ratio of 25.78, a price-to-earnings-growth ratio of 1.23 and a beta of 1.56. The business’s 50 day simple moving average is $89.46 and its 200-day simple moving average is $82.18. The company has a debt-to-equity ratio of 2.98, a current ratio of 1.76 and a quick ratio of 1.61.
QUALCOMM (NASDAQ:QCOM) last posted its earnings results on Wednesday, February 5th. The wireless technology company reported $0.99 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.85 by $0.14. The company had revenue of $5.08 billion for the quarter, compared to analyst estimates of $4.86 billion. QUALCOMM had a return on equity of 66.54% and a net margin of 17.31%. QUALCOMM’s revenue was up 4.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.20 earnings per share. On average, equities analysts anticipate that QUALCOMM, Inc. will post 3.68 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 26th. Shareholders of record on Thursday, March 5th will be issued a dividend of $0.62 per share. The ex-dividend date of this dividend is Wednesday, March 4th. This represents a $2.48 annualized dividend and a yield of 2.73%. QUALCOMM’s dividend payout ratio (DPR) is currently 87.32%.
In related news, EVP Alexander H. Rogers sold 735 shares of QUALCOMM stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $95.37, for a total transaction of $70,096.95. Following the completion of the sale, the executive vice president now owns 14,247 shares in the company, valued at approximately $1,358,736.39. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CAO Erin L. Polek sold 3,190 shares of the company’s stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $84.65, for a total transaction of $270,033.50. Following the completion of the transaction, the chief accounting officer now owns 1,040 shares in the company, valued at $88,036. The disclosure for this sale can be found here. Insiders have sold a total of 109,458 shares of company stock valued at $9,349,683 over the last 90 days. 0.12% of the stock is currently owned by insiders.
Several research analysts recently commented on QCOM shares. Citigroup raised QUALCOMM from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $89.00 to $108.00 in a research note on Friday, January 17th. Susquehanna Bancshares lifted their price objective on shares of QUALCOMM from $102.00 to $105.00 and gave the stock a “positive” rating in a research report on Tuesday, January 28th. Morgan Stanley boosted their target price on shares of QUALCOMM from $90.00 to $92.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 6th. Rosenblatt Securities restated a “buy” rating and issued a $95.00 price target on shares of QUALCOMM in a research note on Thursday, November 7th. Finally, JPMorgan Chase & Co. lowered their price objective on QUALCOMM from $108.00 to $105.00 and set an “overweight” rating for the company in a research report on Thursday, February 6th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $92.80.
QUALCOMM Incorporated designs, develops, manufactures, and markets digital communication products worldwide. It operates through three segments: Qualcomm CDMA Technologies (QCT); Qualcomm Technology Licensing (QTL); and Qualcomm Strategic Initiatives (QSI). The QCT segment develops and supplies integrated circuits and system software based on code division multiple access (CDMA), orthogonal frequency division multiple access, and other technologies for use in wireless voice and data communications, networking, application processing, multimedia, and global positioning system products.
Further Reading: Gross Domestic Product (GDP)
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