CNB Bank purchased a new stake in shares of Qualcomm (NASDAQ:QCOM) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 13,574 shares of the wireless technology company’s stock, valued at approximately $869,000.
Other hedge funds have also recently bought and sold shares of the company. Barrow Hanley Mewhinney & Strauss LLC boosted its position in shares of Qualcomm by 2.0% in the third quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 25,674,098 shares of the wireless technology company’s stock worth $1,330,946,000 after buying an additional 498,324 shares during the period. Capital International Investors boosted its position in shares of Qualcomm by 41.8% in the third quarter. Capital International Investors now owns 21,455,439 shares of the wireless technology company’s stock worth $1,112,250,000 after buying an additional 6,322,645 shares during the period. Geode Capital Management LLC boosted its position in shares of Qualcomm by 3.2% in the fourth quarter. Geode Capital Management LLC now owns 16,243,388 shares of the wireless technology company’s stock worth $1,037,808,000 after buying an additional 498,411 shares during the period. Veritas Asset Management LLP boosted its position in shares of 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 worth $696,173,000 after buying an additional 5,453,631 shares during the period. Finally, Caisse DE Depot ET Placement DU Quebec boosted its position in shares of Qualcomm by 4.8% in the fourth quarter. Caisse DE Depot ET Placement DU Quebec now owns 11,624,300 shares of the wireless technology company’s stock worth $744,188,000 after buying an additional 534,600 shares during the period. 78.20% of the stock is owned by hedge funds and other institutional investors.
In other Qualcomm news, EVP Alexander H. Rogers sold 663 shares of the company’s stock in a transaction that occurred on Tuesday, March 27th. The stock was 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 in the company, valued at $497,652.46. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Alexander H. Rogers sold 713 shares of the company’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 value of $48,626.60. Following the sale, the executive vice president now owns 10,403 shares in the company, valued at approximately $709,484.60. The disclosure for this sale can be found here. Insiders have sold 52,682 shares of company stock worth $3,306,030 in the last 90 days. 0.24% of the stock is currently owned by insiders.
QCOM has been the subject of several analyst reports. Morgan Stanley initiated coverage on Qualcomm in a research report on Monday, March 19th. They issued an “underweight” rating and a $55.00 target price for the company. Vetr raised Qualcomm from a “buy” rating to a “strong-buy” rating and set a $76.13 target price for the company in a research report on Tuesday, January 2nd. Canaccord Genuity upped their target price on Qualcomm from $83.00 to $86.00 and gave the stock a “buy” rating in a research report on Wednesday, January 17th. KeyCorp upped their target price on Qualcomm from $68.00 to $73.00 and gave the stock a “buy” rating in a research report on Thursday, February 1st. Finally, Royal Bank of Canada upped their target price on Qualcomm from $77.00 to $80.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 30th. Three analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and twelve have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $65.67.
Shares of NASDAQ QCOM opened at $50.53 on Tuesday. Qualcomm has a 52-week low of $48.92 and a 52-week high of $69.28. The company has a market cap of $76,149.88, a price-to-earnings ratio of 13.37, a PEG ratio of 1.60 and a beta of 1.44. The company has a debt-to-equity ratio of 0.81, a quick ratio of 3.25 and a current ratio of 3.41.
Qualcomm (NASDAQ:QCOM) last announced its quarterly earnings data on Wednesday, January 31st. The wireless technology company reported $0.98 earnings per share (EPS) for the quarter, beating 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 for the quarter, compared to analysts’ expectations of $5.93 billion. During the same quarter in the prior year, the firm posted $1.19 earnings per share. Qualcomm’s revenue for the quarter was up 1.7% compared to the same quarter last year. equities research analysts predict that Qualcomm will post 2.8 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 20th. Shareholders of record on Wednesday, May 30th will be paid a dividend of $0.62 per share. The ex-dividend date is Tuesday, May 29th. This represents a $2.48 annualized dividend and a yield of 4.91%. This is a boost from Qualcomm’s previous quarterly dividend of $0.57. 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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