Wrapmanager Inc. purchased a new position in shares of QUALCOMM, Inc. (NASDAQ:QCOM) in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 3,057 shares of the wireless technology company’s stock, valued at approximately $207,000.
A number of other large investors have also recently added to or reduced their stakes in QCOM. Nvwm LLC acquired a new position in QUALCOMM in the 1st quarter valued at $454,000. Quadrant Private Wealth Management LLC grew its position in QUALCOMM by 202.8% during the 1st quarter. Quadrant Private Wealth Management LLC now owns 12,719 shares of the wireless technology company’s stock worth $860,000 after acquiring an additional 8,519 shares during the last quarter. Commerce Bank grew its position in QUALCOMM by 16.1% during the 1st quarter. Commerce Bank now owns 49,723 shares of the wireless technology company’s stock worth $3,364,000 after acquiring an additional 6,879 shares during the last quarter. Carnegie Capital Asset Management LLC grew its position in QUALCOMM by 854.1% during the 1st quarter. Carnegie Capital Asset Management LLC now owns 29,464 shares of the wireless technology company’s stock worth $1,993,000 after acquiring an additional 26,376 shares during the last quarter. Finally, Citizens Financial Group Inc RI grew its position in QUALCOMM by 227.5% during the 1st quarter. Citizens Financial Group Inc RI now owns 8,768 shares of the wireless technology company’s stock worth $593,000 after acquiring an additional 6,091 shares during the last quarter. 76.65% of the stock is owned by institutional investors and hedge funds.
QCOM has been the topic of a number of analyst reports. Zacks Investment Research lowered QUALCOMM from a “hold” rating to a “sell” rating and set a $85.00 price target on the stock. in a research report on Thursday. Goldman Sachs Group lowered QUALCOMM from a “neutral” rating to a “sell” rating and reduced their price target for the company from $77.00 to $61.00 in a research report on Friday, April 17th. Susquehanna Bancshares reduced their price target on QUALCOMM from $105.00 to $100.00 and set a “positive” rating on the stock in a research report on Thursday, April 9th. Cowen upped their price target on QUALCOMM from $100.00 to $105.00 and gave the company an “outperform” rating in a research report on Thursday, February 6th. Finally, Daiwa Capital Markets upgraded QUALCOMM from a “neutral” rating to an “outperform” rating in a research report on Tuesday, February 11th. Five investment analysts have rated the stock with a sell rating, eight have given a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. QUALCOMM presently has an average rating of “Hold” and a consensus target price of $88.57.
QCOM stock opened at $78.70 on Friday. The stock’s 50 day simple moving average is $75.19 and its 200 day simple moving average is $82.06. QUALCOMM, Inc. has a fifty-two week low of $58.00 and a fifty-two week high of $96.17. The company has a debt-to-equity ratio of 4.42, a quick ratio of 1.39 and a current ratio of 1.57. The company has a market cap of $87.74 billion, a P/E ratio of 23.28, a price-to-earnings-growth ratio of 1.38 and a beta of 1.36.
QUALCOMM (NASDAQ:QCOM) last posted its quarterly earnings results on Wednesday, April 29th. The wireless technology company reported $0.88 earnings per share for the quarter, topping analysts’ consensus estimates of $0.79 by $0.09. The business had revenue of $5.21 billion for the quarter, compared to the consensus estimate of $5.04 billion. QUALCOMM had a return on equity of 69.92% and a net margin of 16.36%. The firm’s revenue for the quarter was up 6.6% on a year-over-year basis. During the same period in the prior year, the business earned $0.77 EPS. Equities analysts predict that QUALCOMM, Inc. will post 3.08 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 25th. Stockholders of record on Thursday, June 4th will be paid a $0.65 dividend. The ex-dividend date of this dividend is Wednesday, June 3rd. This is an increase from QUALCOMM’s previous quarterly dividend of $0.62. This represents a $2.60 annualized dividend and a dividend yield of 3.30%. QUALCOMM’s dividend payout ratio is 87.32%.
In other news, CAO Erin L. Polek sold 1,646 shares of the stock in a transaction that occurred on Thursday, May 21st. The stock was sold at an average price of $79.47, for a total value of $130,807.62. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.12% of the company’s stock.
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.
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