Evanson Asset Management LLC raised its stake in shares of QUALCOMM, Inc. (NASDAQ:QCOM) by 4.9% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 4,231 shares of the wireless technology company’s stock after acquiring an additional 199 shares during the period. Evanson Asset Management LLC’s holdings in QUALCOMM were worth $241,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently bought and sold shares of the company. Bank of New York Mellon Corp increased its holdings in QUALCOMM by 1,897,041.6% in the 3rd quarter. Bank of New York Mellon Corp now owns 20,830,615 shares of the wireless technology company’s stock worth $1,500,428,000 after acquiring an additional 20,829,517 shares in the last quarter. Morgan Stanley grew its holdings in QUALCOMM by 163.2% during the 3rd quarter. Morgan Stanley now owns 18,891,278 shares of the wireless technology company’s stock valued at $1,360,740,000 after buying an additional 11,713,988 shares in the last quarter. Point72 Asset Management L.P. purchased a new stake in QUALCOMM during the 3rd quarter valued at approximately $357,926,000. Capital World Investors grew its holdings in QUALCOMM by 33.5% during the 3rd quarter. Capital World Investors now owns 18,580,637 shares of the wireless technology company’s stock valued at $1,338,363,000 after buying an additional 4,662,437 shares in the last quarter. Finally, Clearbridge Investments LLC grew its holdings in QUALCOMM by 28.8% during the 3rd quarter. Clearbridge Investments LLC now owns 9,192,851 shares of the wireless technology company’s stock valued at $662,161,000 after buying an additional 2,058,096 shares in the last quarter. Institutional investors and hedge funds own 89.52% of the company’s stock.
QCOM has been the subject of a number of research analyst reports. Canaccord Genuity cut their price objective on shares of QUALCOMM from $86.00 to $75.00 and set a “buy” rating for the company in a report on Thursday, November 8th. BidaskClub raised shares of QUALCOMM from a “hold” rating to a “buy” rating in a report on Thursday, December 20th. Barclays reaffirmed a “buy” rating and set a $70.00 price objective on shares of QUALCOMM in a report on Friday, January 18th. Mizuho lowered their target price on QUALCOMM from $66.00 to $62.00 and set a “buy” rating for the company in a research report on Thursday, January 31st. Finally, Raymond James set a $65.00 target price on QUALCOMM and gave the company a “buy” rating in a research report on Saturday, February 2nd. Two research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and twelve have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $66.25.
QCOM traded down $0.26 during trading on Friday, reaching $50.29. The company had a trading volume of 12,460,794 shares, compared to its average volume of 18,010,770. The company has a market cap of $61.18 billion, a PE ratio of 15.76, a P/E/G ratio of 1.59 and a beta of 1.17. QUALCOMM, Inc. has a 52 week low of $48.56 and a 52 week high of $76.50. The company has a quick ratio of 1.38, a current ratio of 1.54 and a debt-to-equity ratio of 4.25.
QUALCOMM (NASDAQ:QCOM) last issued its quarterly earnings results on Wednesday, January 30th. The wireless technology company reported $1.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.09 by $0.11. QUALCOMM had a return on equity of 36.66% and a net margin of 10.03%. The company had revenue of $4.80 billion during the quarter, compared to the consensus estimate of $4.89 billion. During the same period last year, the company earned $0.98 earnings per share. QUALCOMM’s revenue was down 21.3% on a year-over-year basis. As a group, research analysts anticipate that QUALCOMM, Inc. will post 3.23 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 28th. Stockholders of record on Thursday, March 7th will be given a dividend of $0.62 per share. The ex-dividend date is Wednesday, March 6th. This represents a $2.48 annualized dividend and a dividend yield of 4.93%. QUALCOMM’s dividend payout ratio (DPR) is 77.74%.
In other news, President Cristiano R. Amon sold 18,323 shares of QUALCOMM stock in a transaction on Monday, December 3rd. The stock was sold at an average price of $60.23, for a total transaction of $1,103,594.29. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Donald J. Rosenberg sold 9,048 shares of QUALCOMM stock in a transaction on Thursday, December 13th. The stock was sold at an average price of $58.01, for a total value of $524,874.48. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 33,668 shares of company stock valued at $1,976,189. Corporate insiders own 0.11% of the company’s stock.
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.
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