First Mercantile Trust Co. lowered its stake in QUALCOMM, Inc. (NASDAQ:QCOM) by 26.9% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 23,124 shares of the wireless technology company’s stock after selling 8,510 shares during the quarter. First Mercantile Trust Co.’s holdings in QUALCOMM were worth $1,481,000 at the end of the most recent reporting period.
Other hedge funds also recently bought and sold shares of the company. Westwood Holdings Group Inc. bought a new position in shares of QUALCOMM in the 2nd quarter valued at about $114,000. Cerebellum GP LLC acquired a new stake in QUALCOMM during the fourth quarter worth approximately $126,000. Krilogy Financial LLC lifted 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 worth $129,000 after acquiring an additional 745 shares during the last quarter. Capstone Investment Advisors Netherlands B.V. acquired a new stake in QUALCOMM during the second quarter worth approximately $141,000. Finally, Cable Hill Partners LLC lifted 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 worth $163,000 after acquiring an additional 2,923 shares during the last quarter. 77.98% of the stock is currently owned by institutional investors.
QUALCOMM stock traded down $1.92 during trading hours on Friday, reaching $53.12. The stock had a trading volume of 8,314,854 shares, compared to its average volume of 13,020,456. The firm has a market cap of $81,405.16, a PE ratio of 14.05, a price-to-earnings-growth ratio of 1.71 and a beta of 1.44. The company has a quick ratio of 3.25, a current ratio of 3.41 and a debt-to-equity ratio of 0.81. QUALCOMM, Inc. has a 52 week low of $48.92 and a 52 week high of $69.28.
QUALCOMM (NASDAQ:QCOM) last announced its earnings results on Wednesday, January 31st. The wireless technology company reported $0.98 earnings per share for the quarter, beating analysts’ consensus estimates of $0.91 by $0.07. The firm had revenue of $6.10 billion for the quarter, compared to analyst estimates of $5.93 billion. QUALCOMM had a negative net margin of 18.65% and a positive return on equity of 18.10%. The company’s revenue for the quarter was up 1.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.19 EPS. sell-side analysts expect that QUALCOMM, Inc. will post 2.8 earnings per share 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 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 completion of the sale, the executive vice president now directly owns 10,403 shares in the company, valued at $709,484.60. 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 663 shares of the business’s stock in a transaction that occurred on Tuesday, March 27th. The shares were sold at an average price of $56.59, for a total transaction of $37,519.17. Following the sale, the executive vice president now owns 8,794 shares of the company’s stock, valued at $497,652.46. 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 three months. 0.17% of the stock is owned by corporate insiders.
Several brokerages have commented on QCOM. UBS started coverage on shares of QUALCOMM in a research report on Thursday. They set a “neutral” rating and a $56.00 price objective for the company. BidaskClub cut shares of QUALCOMM from a “sell” rating to a “strong sell” rating in a research note on Thursday, March 22nd. Morgan Stanley started coverage on shares of QUALCOMM in a research note on Monday, March 19th. They issued an “underweight” rating and a $55.00 price objective on the stock. Wells Fargo initiated coverage on shares of QUALCOMM in a research note on Friday, March 16th. They issued a “market perform” rating on the stock. Finally, Deutsche Bank initiated coverage on shares of QUALCOMM in a research report on Thursday, March 15th. They set a “hold” rating and a $60.00 price target on the stock. Three analysts have rated the stock with a sell rating, fourteen have given a hold rating and thirteen have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $67.78.
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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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