National Asset Management Inc. raised its holdings in QUALCOMM, Inc. (NASDAQ:QCOM) by 110.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 17,358 shares of the wireless technology company’s stock after buying an additional 9,123 shares during the period. National Asset Management Inc.’s holdings in QUALCOMM were worth $1,175,000 at the end of the most recent reporting period.
Other hedge funds have also modified their holdings of the company. Adell Harriman & Carpenter Inc. increased its stake in QUALCOMM by 1.9% in the 4th quarter. Adell Harriman & Carpenter Inc. now owns 61,514 shares of the wireless technology company’s stock valued at $5,427,000 after buying an additional 1,124 shares during the last quarter. CFM Wealth Partners LLC acquired a new stake in QUALCOMM in the 4th quarter valued at $846,000. Regal Investment Advisors LLC increased its stake in QUALCOMM by 5.6% in the 4th quarter. Regal Investment Advisors LLC now owns 2,907 shares of the wireless technology company’s stock valued at $256,000 after buying an additional 153 shares during the last quarter. 360 Financial Inc. acquired a new stake in QUALCOMM in the 4th quarter valued at $309,000. Finally, Waldron Private Wealth LLC increased its stake in QUALCOMM by 24.9% in the 1st quarter. Waldron Private Wealth LLC now owns 41,508 shares of the wireless technology company’s stock valued at $2,808,000 after buying an additional 8,268 shares during the last quarter. Hedge funds and other institutional investors own 76.65% of the company’s stock.
A number of research analysts have recently commented on QCOM shares. BidaskClub raised shares of QUALCOMM from a “sell” rating to a “hold” rating in a research report on Saturday, May 9th. Charter Equity reissued a “hold” rating on shares of QUALCOMM in a research report on Thursday, April 30th. Piper Sandler started coverage on shares of QUALCOMM in a research report on Wednesday, March 4th. They issued a “neutral” rating and a $80.00 price objective for the company. Tigress Financial reissued a “buy” rating on shares of QUALCOMM in a research report on Friday, April 17th. Finally, Daiwa Capital Markets raised shares of 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 given a buy rating and one has assigned a strong buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $88.57.
NASDAQ QCOM traded up $0.70 during trading on Friday, reaching $78.70. The company’s stock had a trading volume of 5,471,251 shares, compared to its average volume of 10,017,896. The company has a current ratio of 1.57, a quick ratio of 1.39 and a debt-to-equity ratio of 4.42. The firm has a market capitalization of $87.74 billion, a price-to-earnings ratio of 23.28, a price-to-earnings-growth ratio of 1.38 and a beta of 1.36. QUALCOMM, Inc. has a 12 month low of $58.00 and a 12 month high of $96.17. The firm has a 50 day moving average price of $75.19 and a 200 day moving average price of $82.06.
QUALCOMM (NASDAQ:QCOM) last posted its quarterly earnings data on Wednesday, April 29th. The wireless technology company reported $0.88 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.79 by $0.09. The firm had revenue of $5.21 billion during the quarter, compared to the consensus estimate of $5.04 billion. QUALCOMM had a net margin of 16.36% and a return on equity of 69.92%. The business’s revenue for the quarter was up 6.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.77 EPS. On average, equities analysts forecast that QUALCOMM, Inc. will post 3.08 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 25th. Shareholders of record on Thursday, June 4th will be issued a $0.65 dividend. The ex-dividend date of this dividend is Wednesday, June 3rd. This represents a $2.60 dividend on an annualized basis and a yield of 3.30%. This is an increase from QUALCOMM’s previous quarterly dividend of $0.62. QUALCOMM’s payout ratio is currently 87.32%.
In other QUALCOMM news, CAO Erin L. Polek sold 1,646 shares of the business’s stock in a transaction dated Thursday, May 21st. The shares were sold at an average price of $79.47, for a total value of $130,807.62. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 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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