Trust Co. of Toledo NA OH cut its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 2.4% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 46,132 shares of the wireless technology company’s stock after selling 1,158 shares during the quarter. QUALCOMM accounts for 1.1% of Trust Co. of Toledo NA OH’s investment portfolio, making the stock its 23rd biggest holding. Trust Co. of Toledo NA OH’s holdings in QUALCOMM were worth $6,116,000 at the end of the most recent quarter.
A number of other hedge funds have also recently modified their holdings of QCOM. Wealth Alliance raised its holdings in QUALCOMM by 18.1% during the third quarter. Wealth Alliance now owns 3,752 shares of the wireless technology company’s stock worth $442,000 after purchasing an additional 576 shares during the last quarter. Polar Capital LLP increased its position in QUALCOMM by 51.2% during the third quarter. Polar Capital LLP now owns 1,497,151 shares of the wireless technology company’s stock worth $176,185,000 after buying an additional 506,751 shares in the last quarter. Advisory Alpha LLC purchased a new position in QUALCOMM during the third quarter worth $70,000. Lombard Odier Asset Management Switzerland SA purchased a new position in QUALCOMM during the third quarter worth $216,000. Finally, Financial Advisory Service Inc. purchased a new position in QUALCOMM during the third quarter worth $226,000. 74.76% of the stock is owned by hedge funds and other institutional investors.
QCOM has been the subject of several recent research reports. Deutsche Bank Aktiengesellschaft raised their price target on QUALCOMM from $170.00 to $190.00 and gave the stock a “buy” rating in a research report on Thursday, February 4th. Citigroup downgraded QUALCOMM from a “buy” rating to a “neutral” rating and set a $165.00 price objective for the company. in a research report on Thursday, February 4th. Cascend Securities lifted their price objective on QUALCOMM from $175.00 to $185.00 and gave the company a “buy” rating in a research report on Tuesday, February 2nd. Mizuho lifted their price objective on QUALCOMM from $163.00 to $170.00 and gave the company a “buy” rating in a research report on Thursday, February 4th. Finally, Cowen boosted their price target on QUALCOMM from $170.00 to $180.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 9th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the stock. The company has an average rating of “Buy” and an average price target of $160.88.
QUALCOMM (NASDAQ:QCOM) last issued its quarterly earnings data on Wednesday, February 3rd. The wireless technology company reported $2.17 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.10 by $0.07. The business had revenue of $8.24 billion during the quarter, compared to analyst estimates of $8.26 billion. QUALCOMM had a return on equity of 90.74% and a net margin of 22.09%. The business’s revenue for the quarter was up 62.2% compared to the same quarter last year. During the same period in the prior year, the company posted $0.80 EPS. As a group, equities analysts expect that QUALCOMM Incorporated will post 6.33 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Thursday, March 25th. Shareholders of record on Thursday, March 4th were given a $0.65 dividend. The ex-dividend date was Wednesday, March 3rd. This represents a $2.60 dividend on an annualized basis and a yield of 1.86%. QUALCOMM’s dividend payout ratio (DPR) 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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