Fort L.P. Acquires 1,587 Shares of QUALCOMM, Inc. (QCOM)

Fort L.P. raised its holdings in QUALCOMM, Inc. (NASDAQ:QCOM) by 4.4% in the fourth quarter, Holdings Channel reports. The fund owned 37,505 shares of the wireless technology company’s stock after buying an additional 1,587 shares during the period. Fort L.P.’s holdings in QUALCOMM were worth $2,401,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Carnegie Capital Asset Management LLC purchased a new stake in shares of QUALCOMM in the 4th quarter valued at approximately $295,000. Buckingham Asset Management LLC grew its stake in shares of QUALCOMM by 20.2% in the 4th quarter. Buckingham Asset Management LLC now owns 12,749 shares of the wireless technology company’s stock valued at $816,000 after buying an additional 2,140 shares during the period. Harvest Management LLC purchased a new position in shares of QUALCOMM during the 4th quarter worth approximately $3,297,000. Stansberry Asset Management LLC purchased a new position in shares of QUALCOMM during the 4th quarter worth approximately $7,392,000. Finally, Van Hulzen Asset Management LLC purchased a new position in shares of QUALCOMM during the 4th quarter worth approximately $676,000. Institutional investors own 77.98% of the company’s stock.

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In other news, EVP Alexander H. Rogers sold 663 shares of the firm’s stock in a transaction on Tuesday, March 27th. The shares were sold at an average price of $56.59, for a total value of $37,519.17. Following the sale, the executive vice president now directly owns 8,794 shares in the company, valued at approximately $497,652.46. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Matthew S. Grob sold 43,000 shares of the firm’s stock in a transaction on Tuesday, January 9th. The shares were sold at an average price of $65.35, for a total transaction of $2,810,050.00. Following the completion of the sale, the executive vice president now owns 43,000 shares in the company, valued at $2,810,050. The disclosure for this sale can be found here. Insiders sold a total of 95,682 shares of company stock valued at $6,116,080 in the last three months. 0.17% of the stock is currently owned by corporate insiders.

A number of equities analysts recently weighed in on the stock. Vetr raised shares of QUALCOMM from a “hold” rating to a “buy” rating and set a $74.63 price objective for the company in a research report on Friday, January 26th. Northland Securities reaffirmed a “buy” rating and set a $75.00 price objective on shares of QUALCOMM in a research report on Thursday, February 1st. Mizuho reaffirmed a “buy” rating and set a $75.00 price objective (up previously from $65.00) on shares of QUALCOMM in a research report on Wednesday, January 17th. ValuEngine raised shares of QUALCOMM from a “hold” rating to a “buy” rating in a research report on Friday, February 2nd. Finally, Macquarie increased their price objective on shares of QUALCOMM from $55.00 to $70.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 17th. Three equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and thirteen have given a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $67.78.

Shares of QCOM stock opened at $53.12 on Friday. The company has a debt-to-equity ratio of 0.81, a current ratio of 3.41 and a quick ratio of 3.25. QUALCOMM, Inc. has a 52 week low of $48.92 and a 52 week high of $69.28. The company has a market capitalization of $81,405.16, a price-to-earnings ratio of 14.05, a price-to-earnings-growth ratio of 1.71 and a beta of 1.44.

QUALCOMM (NASDAQ:QCOM) last issued its quarterly earnings results on Wednesday, January 31st. The wireless technology company reported $0.98 EPS for the quarter, beating the Thomson Reuters’ consensus estimate 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 during the quarter, compared to analysts’ expectations of $5.93 billion. During the same quarter last year, the company posted $1.19 EPS. The firm’s revenue was up 1.7% compared to the same quarter last year. equities analysts forecast that QUALCOMM, Inc. will post 2.8 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 21st. Shareholders of record on Wednesday, February 28th were given a $0.57 dividend. The ex-dividend date was Tuesday, February 27th. This represents a $2.28 annualized dividend and a yield of 4.29%. QUALCOMM’s dividend payout ratio is presently 60.32%.

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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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Institutional Ownership by Quarter for QUALCOMM (NASDAQ:QCOM)

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