Northwestern Mutual Wealth Management Co. increased its holdings in shares of QUALCOMM, Inc. (NASDAQ:QCOM) by 5.7% during the 1st quarter, Holdings Channel.com reports. The fund owned 104,626 shares of the wireless technology company’s stock after acquiring an additional 5,670 shares during the period. Northwestern Mutual Wealth Management Co.’s holdings in QUALCOMM were worth $7,078,000 at the end of the most recent reporting period.
Several other institutional investors have also modified their holdings of the company. Klingenstein Fields & Co. LLC grew its position in shares of QUALCOMM by 2.0% during the 4th quarter. Klingenstein Fields & Co. LLC now owns 6,267 shares of the wireless technology company’s stock worth $553,000 after buying an additional 120 shares during the period. Plancorp LLC grew its position in shares of QUALCOMM by 2.1% during the 4th quarter. Plancorp LLC now owns 6,218 shares of the wireless technology company’s stock worth $549,000 after buying an additional 128 shares during the period. Paulson Wealth Management Inc. grew its position in shares of QUALCOMM by 2.3% during the 1st quarter. Paulson Wealth Management Inc. now owns 5,948 shares of the wireless technology company’s stock worth $452,000 after buying an additional 131 shares during the period. First National Trust Co grew its position in shares of QUALCOMM by 1.1% during the 1st quarter. First National Trust Co now owns 13,036 shares of the wireless technology company’s stock worth $882,000 after buying an additional 142 shares during the period. Finally, Washington Trust Bank grew its position in shares of QUALCOMM by 4.4% during the 1st quarter. Washington Trust Bank now owns 3,414 shares of the wireless technology company’s stock worth $231,000 after buying an additional 143 shares during the period. Institutional investors and hedge funds own 76.65% of the company’s stock.
A number of brokerages recently issued reports on QCOM. Cowen boosted their price objective on shares of QUALCOMM from $100.00 to $105.00 and gave the company an “outperform” rating in a report on Thursday, February 6th. Zacks Investment Research lowered shares of QUALCOMM from a “hold” rating to a “sell” rating and set a $85.00 price objective on the stock. in a research report on Thursday. Daiwa Capital Markets raised shares of QUALCOMM from a “neutral” rating to an “outperform” rating in a research report on Tuesday, February 11th. Nomura Securities initiated coverage on shares of QUALCOMM in a research report on Monday, March 9th. They set a “buy” rating and a $98.00 price target on the stock. Finally, Tigress Financial reissued a “buy” rating on shares of QUALCOMM in a research report on Friday, April 17th. Five equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $88.57.
In related news, CAO Erin L. Polek sold 1,646 shares of the firm’s stock in a transaction that occurred on Thursday, May 21st. The shares were sold at an average price of $79.47, for a total value of $130,807.62. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.12% of the stock is owned by company insiders.
QCOM stock opened at $78.70 on Friday. The stock has a market capitalization 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. The company has a current ratio of 1.57, a quick ratio of 1.39 and a debt-to-equity ratio of 4.42. 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 earnings results on Wednesday, April 29th. The wireless technology company reported $0.88 EPS for the quarter, topping analysts’ consensus estimates of $0.79 by $0.09. The firm had revenue of $5.21 billion during the quarter, compared to analysts’ expectations 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 prior year, the business earned $0.77 earnings per share. As a group, equities analysts predict 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. Investors of record on Thursday, June 4th will be issued a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a yield of 3.30%. The ex-dividend date is Wednesday, June 3rd. This is a positive change from QUALCOMM’s previous quarterly dividend of $0.62. QUALCOMM’s dividend payout ratio (DPR) is 87.32%.
QUALCOMM Company Profile
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.
Read More: Understanding Average Daily Trade Volume
Want to see what other hedge funds are holding QCOM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for QUALCOMM, Inc. (NASDAQ:QCOM).
Receive News & Ratings for QUALCOMM Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for QUALCOMM and related companies with MarketBeat.com's FREE daily email newsletter.