Fiera Capital Corp raised its holdings in shares of QUALCOMM, Inc. (NASDAQ:QCOM) by 5.9% in the 1st quarter, HoldingsChannel reports. The fund owned 12,914 shares of the wireless technology company’s stock after purchasing an additional 722 shares during the period. Fiera Capital Corp’s holdings in QUALCOMM were worth $737,000 at the end of the most recent reporting period.
A number of other large investors have also bought and sold shares of the business. Envestnet Asset Management Inc. increased its holdings in QUALCOMM by 6.3% during the 1st quarter. Envestnet Asset Management Inc. now owns 753,506 shares of the wireless technology company’s stock valued at $42,972,000 after acquiring an additional 44,367 shares in the last quarter. Wellington Shields & Co. LLC increased its holdings in QUALCOMM by 12.9% during the 1st quarter. Wellington Shields & Co. LLC now owns 17,500 shares of the wireless technology company’s stock valued at $998,000 after acquiring an additional 2,000 shares in the last quarter. Financial Counselors Inc. grew its holdings in shares of QUALCOMM by 9.5% during the first quarter. Financial Counselors Inc. now owns 154,440 shares of the wireless technology company’s stock worth $8,808,000 after buying an additional 13,381 shares in the last quarter. Fosun International Ltd grew its holdings in shares of QUALCOMM by 81.3% during the first quarter. Fosun International Ltd now owns 22,300 shares of the wireless technology company’s stock worth $1,261,000 after buying an additional 10,000 shares in the last quarter. Finally, Commonwealth Bank of Australia grew its holdings in shares of QUALCOMM by 4.5% during the first quarter. Commonwealth Bank of Australia now owns 220,607 shares of the wireless technology company’s stock worth $12,575,000 after buying an additional 9,500 shares in the last quarter. Hedge funds and other institutional investors own 76.38% of the company’s stock.
A number of equities research analysts have recently commented on QCOM shares. Macquarie set a $90.00 price target on shares of QUALCOMM and gave the stock a “buy” rating in a report on Thursday, May 23rd. Zacks Investment Research downgraded shares of QUALCOMM from a “buy” rating to a “hold” rating in a report on Tuesday, February 19th. ValuEngine upgraded shares of QUALCOMM from a “sell” rating to a “hold” rating in a report on Tuesday, March 5th. Bank of America upgraded shares of QUALCOMM from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $90.00 to $105.00 in a report on Thursday, May 2nd. Finally, Deutsche Bank reiterated a “hold” rating on shares of QUALCOMM in a report on Monday, April 29th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the company’s stock. QUALCOMM presently has a consensus rating of “Buy” and an average target price of $79.68.
QUALCOMM stock opened at $68.72 on Friday. QUALCOMM, Inc. has a 1 year low of $49.10 and a 1 year high of $90.34. The company has a market capitalization of $84.60 billion, a P/E ratio of 21.54, a P/E/G ratio of 1.54 and a beta of 1.59. The company has a quick ratio of 1.39, a current ratio of 1.55 and a debt-to-equity ratio of 3.98.
QUALCOMM (NASDAQ:QCOM) last released its earnings results on Wednesday, May 1st. The wireless technology company reported $0.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.54 by $0.07. QUALCOMM had a net margin of 11.57% and a return on equity of 56.69%. The firm had revenue of $4.88 billion during the quarter, compared to the consensus estimate of $4.83 billion. During the same period in the previous year, the firm earned $0.80 earnings per share. QUALCOMM’s revenue was down 5.9% compared to the same quarter last year. On average, research analysts predict that QUALCOMM, Inc. will post 3.31 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, June 27th. Investors of record on Thursday, June 6th will be issued a $0.62 dividend. The ex-dividend date of this dividend is Wednesday, June 5th. This represents a $2.48 dividend on an annualized basis and a yield of 3.61%. QUALCOMM’s payout ratio is 77.74%.
In related news, EVP Donald J. Rosenberg sold 7,141 shares of the business’s stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $84.56, for a total value of $603,842.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Michelle M. Sterling sold 5,560 shares of the business’s stock in a transaction that occurred on Wednesday, May 15th. The shares were sold at an average price of $86.44, for a total transaction of $480,606.40. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 949,832 shares of company stock valued at $37,443,538. 0.11% of the stock is owned by insiders.
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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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