Nuveen Asset Management LLC lifted its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM – Get Rating) by 37.2% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 8,468,283 shares of the wireless technology company’s stock after purchasing an additional 2,294,400 shares during the quarter. Nuveen Asset Management LLC owned about 0.76% of QUALCOMM worth $1,548,596,000 at the end of the most recent quarter.
Other large investors also recently bought and sold shares of the company. Ten Capital Wealth Advisors LLC grew its stake in QUALCOMM by 263.2% in the 3rd quarter. Ten Capital Wealth Advisors LLC now owns 276 shares of the wireless technology company’s stock valued at $36,000 after acquiring an additional 200 shares during the last quarter. MFA Wealth Advisors LLC purchased a new position in QUALCOMM in the 3rd quarter valued at about $36,000. Jackson Wealth Management LLC lifted its holdings in QUALCOMM by 0.3% in the 3rd quarter. Jackson Wealth Management LLC now owns 39,836 shares of the wireless technology company’s stock valued at $37,000 after purchasing an additional 103 shares in the last quarter. Old North State Trust LLC lifted its holdings in QUALCOMM by 58.9% in the 4th quarter. Old North State Trust LLC now owns 205 shares of the wireless technology company’s stock valued at $37,000 after purchasing an additional 76 shares in the last quarter. Finally, Stuart Chaussee & Associates Inc. lifted its holdings in QUALCOMM by 49.6% in the 4th quarter. Stuart Chaussee & Associates Inc. now owns 202 shares of the wireless technology company’s stock valued at $37,000 after purchasing an additional 67 shares in the last quarter. 73.61% of the stock is currently owned by institutional investors and hedge funds.
QCOM has been the topic of several recent analyst reports. Barclays cut their price objective on shares of QUALCOMM from $185.00 to $160.00 and set an “equal weight” rating on the stock in a report on Monday, April 25th. Citigroup increased their price objective on shares of QUALCOMM from $180.00 to $190.00 and gave the stock a “neutral” rating in a report on Thursday, February 3rd. Cowen raised their price target on shares of QUALCOMM from $210.00 to $220.00 and gave the company an “outperform” rating in a report on Thursday, February 3rd. Morgan Stanley raised their price target on shares of QUALCOMM from $167.00 to $170.00 in a report on Thursday, April 28th. Finally, Piper Sandler cut their price target on shares of QUALCOMM from $225.00 to $190.00 in a report on Thursday, April 28th. Ten equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $194.77.
Shares of NASDAQ QCOM traded up $3.61 during midday trading on Thursday, reaching $134.84. 7,927,658 shares of the company traded hands, compared to its average volume of 11,257,949. The stock has a 50-day moving average price of $141.90 and a 200 day moving average price of $162.86. The company has a market cap of $151.02 billion, a price-to-earnings ratio of 13.87, a PEG ratio of 0.72 and a beta of 1.20. QUALCOMM Incorporated has a 52 week low of $122.17 and a 52 week high of $193.58. The company has a debt-to-equity ratio of 0.91, a current ratio of 1.61 and a quick ratio of 1.27.
QUALCOMM (NASDAQ:QCOM – Get Rating) last released its earnings results on Wednesday, April 27th. The wireless technology company reported $2.86 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.67 by $0.19. The firm had revenue of $11.16 billion for the quarter, compared to analyst estimates of $10.58 billion. QUALCOMM had a return on equity of 103.73% and a net margin of 28.42%. During the same period in the previous year, the company earned $1.59 earnings per share. As a group, analysts expect that QUALCOMM Incorporated will post 11.12 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, June 23rd. Investors of record on Thursday, June 2nd will be issued a dividend of $0.75 per share. This is a positive change from QUALCOMM’s previous quarterly dividend of $0.68. This represents a $3.00 dividend on an annualized basis and a yield of 2.22%. The ex-dividend date is Wednesday, June 1st. QUALCOMM’s payout ratio is presently 27.84%.
About QUALCOMM (Get Rating)
QUALCOMM Incorporated engages in the development and commercialization of foundational technologies for the wireless industry worldwide. The company 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 3G/4G/5G and other technologies for use in wireless voice and data communications, networking, application processing, multimedia, and global positioning system products.
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