Wilbanks Smith & Thomas Asset Management LLC lowered its stake in QUALCOMM, Inc. (NASDAQ:QCOM) by 59.4% in the 4th quarter, Holdings Channel reports. The firm owned 25,953 shares of the wireless technology company’s stock after selling 38,002 shares during the period. Wilbanks Smith & Thomas Asset Management LLC’s holdings in QUALCOMM were worth $1,661,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Marietta Wealth Management LLC boosted its holdings in shares of QUALCOMM by 12.1% in the 2nd quarter. Marietta Wealth Management LLC now owns 53,795 shares of the wireless technology company’s stock valued at $2,971,000 after buying an additional 5,800 shares during the period. Northern Trust Corp boosted its holdings in shares of QUALCOMM by 2.6% in the 2nd quarter. Northern Trust Corp now owns 19,519,161 shares of the wireless technology company’s stock valued at $1,077,848,000 after buying an additional 499,531 shares during the period. Vanguard Group Inc. boosted its holdings in shares of QUALCOMM by 1.5% in the 2nd quarter. Vanguard Group Inc. now owns 103,484,572 shares of the wireless technology company’s stock valued at $5,714,418,000 after buying an additional 1,537,645 shares during the period. FMR LLC boosted its holdings in shares of QUALCOMM by 16.5% in the 2nd quarter. FMR LLC now owns 80,528,523 shares of the wireless technology company’s stock valued at $4,446,786,000 after buying an additional 11,387,347 shares during the period. Finally, ETRADE Capital Management LLC boosted its holdings in shares of QUALCOMM by 5.4% in the 2nd quarter. ETRADE Capital Management LLC now owns 25,392 shares of the wireless technology company’s stock valued at $1,402,000 after buying an additional 1,308 shares during the period. 77.96% of the stock is owned by institutional investors.
Shares of QUALCOMM stock opened at $56.81 on Thursday. QUALCOMM, Inc. has a 52-week low of $48.92 and a 52-week high of $69.28. The company has a market cap of $86,245.95, a PE ratio of 16.32, a price-to-earnings-growth ratio of 1.81 and a beta of 1.35. The company has a debt-to-equity ratio of 0.81, a quick ratio of 3.25 and a current ratio of 3.41.
QUALCOMM (NASDAQ:QCOM) last released its quarterly earnings results on Wednesday, January 31st. The wireless technology company reported $0.98 EPS for the quarter, topping analysts’ consensus estimates of $0.91 by $0.07. QUALCOMM had a negative net margin of 18.65% and a positive return on equity of 18.10%. The company had revenue of $6.10 billion for the quarter, compared to the consensus estimate of $5.93 billion. During the same period in the previous year, the firm earned $1.19 EPS. QUALCOMM’s revenue was up 1.7% on a year-over-year basis. sell-side analysts anticipate that QUALCOMM, Inc. will post 2.8 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Wednesday, March 21st. Shareholders of record on Wednesday, February 28th were given a dividend of $0.57 per share. The ex-dividend date was Tuesday, February 27th. This represents a $2.28 dividend on an annualized basis and a dividend yield of 4.01%. QUALCOMM’s dividend payout ratio (DPR) is -80.28%.
In related news, EVP Matthew S. Grob sold 43,000 shares of the business’s stock in a transaction that occurred on Tuesday, January 9th. The shares were sold at an average price of $65.35, for a total value of $2,810,050.00. Following the sale, the executive vice president now directly owns 43,000 shares in the company, valued at approximately $2,810,050. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP James H. Thompson sold 50,126 shares of the business’s stock in a transaction that occurred on Friday, March 9th. The stock was sold at an average price of $62.66, for a total transaction of $3,140,895.16. Following the completion of the sale, the executive vice president now owns 136,482 shares in the company, valued at $8,551,962.12. The disclosure for this sale can be found here. Insiders have sold a total of 95,938 shares of company stock worth $6,137,671 over the last 90 days. 0.24% of the stock is owned by insiders.
Several research analysts have recently commented on QCOM shares. Vetr raised shares of QUALCOMM from a “buy” rating to a “strong-buy” rating and set a $76.13 price target for the company in a report on Tuesday, January 2nd. Canaccord Genuity lifted their price target on shares of QUALCOMM from $83.00 to $86.00 and gave the company a “buy” rating in a report on Wednesday, January 17th. KeyCorp lifted their price target on shares of QUALCOMM from $68.00 to $73.00 and gave the company a “buy” rating in a report on Thursday, February 1st. Nomura raised shares of QUALCOMM from a “neutral” rating to a “buy” rating and lifted their price target for the company from $58.00 to $75.00 in a report on Tuesday, January 16th. Finally, Royal Bank of Canada lifted their price target on shares of QUALCOMM from $77.00 to $80.00 and gave the company an “outperform” rating in a report on Tuesday, January 30th. Three equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and fourteen have assigned a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $68.05.
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QUALCOMM Incorporated is engaged in the development and commercialization of a digital communication technology called code division multiple access (CDMA). The Company is engaged in the development and commercialization of the orthogonal frequency division multiple access (OFDMA) family of technologies, including long-term evolution (LTE), which is an Orthogonal Frequency Division Multiplexing (OFDM)-based standard that uses OFDMA and single-carrier Frequency Division Multiple Access (FDMA), for cellular wireless communication applications.
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