Pacer Advisors Inc. trimmed its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 7.2% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 104,148 shares of the wireless technology company’s stock after selling 8,033 shares during the period. Pacer Advisors Inc.’s holdings in QUALCOMM were worth $13,809,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors have also recently bought and sold shares of the company. Security National Bank purchased a new stake in shares of QUALCOMM in the 1st quarter valued at about $352,000. Jacobs & Co. CA lifted its holdings in shares of QUALCOMM by 6.9% in the 1st quarter. Jacobs & Co. CA now owns 106,380 shares of the wireless technology company’s stock valued at $14,104,000 after purchasing an additional 6,907 shares during the last quarter. Woodstock Corp lifted its holdings in shares of QUALCOMM by 2.5% in the 1st quarter. Woodstock Corp now owns 104,264 shares of the wireless technology company’s stock valued at $13,824,000 after purchasing an additional 2,585 shares during the last quarter. Fulton Bank N.A. lifted its holdings in shares of QUALCOMM by 3.4% in the 1st quarter. Fulton Bank N.A. now owns 9,666 shares of the wireless technology company’s stock valued at $1,282,000 after purchasing an additional 315 shares during the last quarter. Finally, Private Asset Management Inc. lifted its holdings in shares of QUALCOMM by 2.4% in the 1st quarter. Private Asset Management Inc. now owns 519,253 shares of the wireless technology company’s stock valued at $68,848,000 after purchasing an additional 11,990 shares during the last quarter. 74.76% of the stock is owned by institutional investors and hedge funds.
Several analysts have recently weighed in on QCOM shares. KeyCorp boosted their target price on QUALCOMM from $175.00 to $180.00 and gave the company an “overweight” rating in a report on Wednesday, January 6th. Citigroup cut QUALCOMM from a “buy” rating to a “neutral” rating and set a $165.00 price target on the stock. in a research report on Thursday, February 4th. Morgan Stanley dropped their price target on QUALCOMM from $171.00 to $167.00 and set an “overweight” rating on the stock in a research report on Thursday, February 4th. Standpoint Research cut QUALCOMM from a “buy” rating to a “hold” rating in a research report on Friday, December 11th. Finally, Raymond James boosted their target price on QUALCOMM from $150.00 to $190.00 and gave the stock a “strong-buy” rating in a research report on Tuesday, January 19th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $160.88.
QUALCOMM (NASDAQ:QCOM) last issued its quarterly earnings results on Wednesday, February 3rd. The wireless technology company reported $2.17 earnings per share for the quarter, topping analysts’ consensus estimates of $2.10 by $0.07. QUALCOMM had a return on equity of 90.74% and a net margin of 22.09%. The company had revenue of $8.24 billion for the quarter, compared to analyst estimates of $8.26 billion. During the same quarter in the prior year, the company posted $0.80 EPS. The business’s revenue for the quarter was up 62.2% compared to the same quarter last year. On average, equities research analysts anticipate that QUALCOMM Incorporated will post 6.33 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 25th. Stockholders of record on Thursday, March 4th were issued a dividend of $0.65 per share. The ex-dividend date of this dividend was Wednesday, March 3rd. This represents a $2.60 dividend on an annualized basis and a dividend yield of 1.87%. QUALCOMM’s payout ratio is 77.84%.
QUALCOMM Incorporated engages in the development and commercialization of foundational technologies and products are used in mobile devices and other wireless products, including network equipment, broadband gateway equipment, consumer electronic devices, and other connected devices worldwide. It operates through three segments: Qualcomm CDMA Technologies (QCT); Qualcomm Technology Licensing (QTL); and Qualcomm Strategic Initiatives (QSI).
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