Palladium Partners LLC raised its position in QUALCOMM, Inc. (NASDAQ:QCOM) by 32.5% during the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 6,560 shares of the wireless technology company’s stock after buying an additional 1,610 shares during the period. Palladium Partners LLC’s holdings in QUALCOMM were worth $420,000 as of its most recent filing with the SEC.
Several other hedge funds also recently bought and sold shares of the company. Westwood Holdings Group Inc. acquired a new stake in shares of QUALCOMM in the second quarter valued at approximately $114,000. Cerebellum GP LLC acquired a new position in QUALCOMM during the fourth quarter valued at approximately $126,000. Krilogy Financial LLC raised its position in QUALCOMM by 47.0% during the second quarter. Krilogy Financial LLC now owns 2,331 shares of the wireless technology company’s stock valued at $129,000 after purchasing an additional 745 shares in the last quarter. Capstone Investment Advisors Netherlands B.V. acquired a new position in QUALCOMM during the second quarter valued at approximately $141,000. Finally, Cable Hill Partners LLC raised its position in QUALCOMM by 1,316.7% during the third quarter. Cable Hill Partners LLC now owns 3,145 shares of the wireless technology company’s stock valued at $163,000 after purchasing an additional 2,923 shares in the last quarter. 77.98% of the stock is currently owned by institutional investors.
Shares of QCOM traded down $1.92 during trading hours on Friday, reaching $53.12. 8,314,854 shares of the company traded hands, compared to its average volume of 13,020,456. QUALCOMM, Inc. has a 12 month low of $48.92 and a 12 month high of $69.28. The company has a current ratio of 3.41, a quick ratio of 3.25 and a debt-to-equity ratio of 0.81. The firm has a market capitalization of $81,405.16, a price-to-earnings ratio of 14.05, a PEG ratio of 1.71 and a beta of 1.44.
QUALCOMM (NASDAQ:QCOM) last issued its earnings results on Wednesday, January 31st. The wireless technology company reported $0.98 earnings per share (EPS) for the quarter, topping the 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 business had revenue of $6.10 billion during the quarter, compared to analysts’ expectations of $5.93 billion. During the same period in the previous year, the company earned $1.19 earnings per share. The business’s revenue for the quarter was up 1.7% compared to the same quarter last year. research analysts forecast that QUALCOMM, Inc. will post 2.8 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 21st. Stockholders of record on Wednesday, February 28th were issued a dividend of $0.57 per share. The ex-dividend date was Tuesday, February 27th. This represents a $2.28 annualized dividend and a dividend yield of 4.29%. QUALCOMM’s payout ratio is 60.32%.
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 transaction of $2,810,050.00. Following the completion of the sale, the executive vice president now directly owns 43,000 shares in the company, valued at $2,810,050. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Alexander H. Rogers sold 713 shares of the business’s stock in a transaction that occurred on Monday, January 29th. The shares were sold at an average price of $68.20, for a total transaction of $48,626.60. Following the sale, the executive vice president now owns 10,403 shares of the company’s stock, valued at $709,484.60. The disclosure for this sale can be found here. Insiders have sold 95,682 shares of company stock valued at $6,116,080 over the last 90 days. 0.17% of the stock is currently owned by company insiders.
A number of analysts have weighed in on QCOM shares. ValuEngine cut shares of QUALCOMM from a “buy” rating to a “hold” rating in a research note on Tuesday, January 16th. Nomura raised shares of QUALCOMM from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $58.00 to $75.00 in a research note on Tuesday, January 16th. Vetr cut shares of QUALCOMM from a “strong-buy” rating to a “buy” rating and set a $76.42 price target on the stock. in a research report on Thursday, February 1st. UBS assumed coverage on shares of QUALCOMM in a report on Thursday. They set a “neutral” rating and a $56.00 price objective on the stock. Finally, Wells Fargo assumed coverage on shares of QUALCOMM in a report on Friday, March 16th. They issued a “market perform” rating on the stock. Three investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and thirteen have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $67.78.
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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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