Wellington Shields Capital Management LLC decreased its stake in QUALCOMM, Inc. (NASDAQ:QCOM) by 20.8% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,800 shares of the wireless technology company’s stock after selling 1,000 shares during the quarter. Wellington Shields Capital Management LLC’s holdings in QUALCOMM were worth $243,000 at the end of the most recent quarter.
Other hedge funds also recently made changes to their positions in the company. FMR LLC raised its position in shares of QUALCOMM by 16.5% during the second quarter. FMR LLC now owns 80,528,523 shares of the wireless technology company’s stock worth $4,446,786,000 after acquiring an additional 11,387,347 shares during the last quarter. Capital International Investors increased its holdings in QUALCOMM by 41.8% in the third quarter. Capital International Investors now owns 21,455,439 shares of the wireless technology company’s stock valued at $1,112,250,000 after purchasing an additional 6,322,645 shares during the last quarter. Veritas Asset Management LLP increased its holdings in QUALCOMM by 68.4% in the third quarter. Veritas Asset Management LLP now owns 13,429,265 shares of the wireless technology company’s stock valued at $696,173,000 after purchasing an additional 5,453,631 shares during the last quarter. Maverick Capital Ltd. bought a new stake in QUALCOMM in the second quarter valued at about $210,548,000. Finally, Parnassus Investments CA grew its stake in QUALCOMM by 62.4% in the third quarter. Parnassus Investments CA now owns 7,809,000 shares of the wireless technology company’s stock valued at $404,819,000 after acquiring an additional 3,000,000 shares during the period. 77.98% of the stock is currently owned by institutional investors and hedge funds.
A number of research analysts have issued reports on the company. UBS assumed coverage on QUALCOMM in a research note on Thursday. They issued a “neutral” rating and a $56.00 target price for the company. BidaskClub cut QUALCOMM from a “sell” rating to a “strong sell” rating in a research report on Thursday, March 22nd. Morgan Stanley began coverage on QUALCOMM in a research report on Monday, March 19th. They set an “underweight” rating and a $55.00 price objective for the company. Wells Fargo initiated coverage on QUALCOMM in a research report on Friday, March 16th. They set a “market perform” rating for the company. Finally, Deutsche Bank initiated coverage on QUALCOMM in a research report on Thursday, March 15th. They set a “hold” rating and a $60.00 price target for the company. 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 stock. The company has a consensus rating of “Hold” and a consensus target price of $67.78.
NASDAQ:QCOM traded down $1.92 during trading hours on Friday, hitting $53.12. 8,322,160 shares of the company were exchanged, compared to its average volume of 13,827,848. The firm has a market cap of $78,636.88, a P/E ratio of 14.05, a P/E/G ratio of 1.65 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 one year low of $48.92 and a one year high of $69.28.
QUALCOMM (NASDAQ:QCOM) last posted its quarterly earnings data on Wednesday, January 31st. The wireless technology company reported $0.98 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.91 by $0.07. QUALCOMM had a positive return on equity of 18.10% and a negative net margin of 18.65%. The firm had revenue of $6.10 billion during the quarter, compared to analyst estimates of $5.93 billion. During the same period last year, the company posted $1.19 EPS. The business’s quarterly revenue was up 1.7% on a year-over-year basis. equities research analysts expect that QUALCOMM, Inc. will post 2.8 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 21st. Stockholders of record on Wednesday, February 28th were given a $0.57 dividend. This represents a $2.28 annualized dividend and a dividend yield of 4.29%. The ex-dividend date of this dividend was Tuesday, February 27th. QUALCOMM’s dividend payout ratio (DPR) is presently 60.32%.
In related news, EVP Alexander H. Rogers sold 713 shares of the business’s stock in a transaction dated Monday, January 29th. The stock was sold at an average price of $68.20, for a total value of $48,626.60. Following the completion of the sale, the executive vice president now directly owns 10,403 shares of the company’s stock, valued at approximately $709,484.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Alexander H. Rogers sold 663 shares of QUALCOMM stock in a transaction dated Tuesday, March 27th. The shares were sold at an average price of $56.59, for a total value of $37,519.17. Following the transaction, the executive vice president now owns 8,794 shares of the company’s stock, valued at approximately $497,652.46. The disclosure for this sale can be found here. Over the last three months, insiders sold 95,682 shares of company stock valued at $6,116,080. Corporate insiders own 0.17% of the company’s stock.
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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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