Teachers Insurance & Annuity Association of America bought a new position in shares of QUALCOMM, Inc. (NASDAQ:QCOM) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm bought 100,320 shares of the wireless technology company’s stock, valued at approximately $6,422,000.
Other hedge funds also recently made changes to their positions in the company. Truewealth LLC acquired a new stake in shares of QUALCOMM in the fourth quarter valued at approximately $102,000. Gradient Investments LLC acquired a new stake in shares of QUALCOMM in the fourth quarter valued at approximately $120,000. Cerebellum GP LLC acquired a new stake in shares of QUALCOMM in the fourth quarter valued at approximately $126,000. Cable Hill Partners LLC raised its holdings in shares of QUALCOMM by 1,316.7% in 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 during the last quarter. Finally, Focused Wealth Management Inc raised its holdings in shares of QUALCOMM by 1,176.2% in the fourth quarter. Focused Wealth Management Inc now owns 2,680 shares of the wireless technology company’s stock valued at $172,000 after purchasing an additional 2,470 shares during the last quarter. Hedge funds and other institutional investors own 78.00% of the company’s stock.
NASDAQ:QCOM opened at $54.77 on Tuesday. QUALCOMM, Inc. has a 1-year low of $48.92 and a 1-year high of $69.28. The company has a debt-to-equity ratio of 0.81, a current ratio of 3.41 and a quick ratio of 3.25. The firm has a market capitalization of $82,500.63, a P/E ratio of 14.49, a PEG ratio of 1.73 and a beta of 1.44.
QUALCOMM (NASDAQ:QCOM) last released its earnings results on Wednesday, January 31st. The wireless technology company reported $0.98 earnings per share for the quarter, beating 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 last year, the business earned $1.19 earnings per share. The firm’s revenue was up 1.7% on a year-over-year basis. sell-side analysts anticipate that QUALCOMM, Inc. will post 2.8 EPS for the current year.
In other QUALCOMM news, EVP Alexander H. Rogers sold 713 shares of QUALCOMM stock in a transaction 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 transaction, the executive vice president now directly owns 10,403 shares of the company’s stock, valued at $709,484.60. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Alexander H. Rogers sold 1,180 shares of QUALCOMM stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of $66.94, for a total transaction of $78,989.20. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 52,682 shares of company stock valued at $3,306,030. Company insiders own 0.24% of the company’s stock.
A number of analysts have recently issued reports on the stock. Macquarie lifted their price objective on shares of QUALCOMM from $55.00 to $70.00 and gave the company a “neutral” rating in a report on Wednesday, January 17th. Canaccord Genuity lifted their price objective on shares of QUALCOMM from $83.00 to $86.00 and gave the company a “buy” rating in a report on Wednesday, January 17th. Mizuho reiterated a “buy” rating and issued a $75.00 price objective (up from $65.00) on shares of QUALCOMM in a report on Wednesday, January 17th. ValuEngine downgraded shares of QUALCOMM from a “buy” rating to a “hold” rating in a report on Tuesday, January 16th. Finally, KeyCorp lifted their price objective on shares of QUALCOMM from $68.00 to $73.00 and gave the company a “buy” rating in a report on Thursday, February 1st. Three analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and thirteen have issued a buy rating to the company’s stock. QUALCOMM has a consensus rating of “Hold” and an average price target of $67.82.
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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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