Earned Wealth Advisors LLC purchased a new stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 3,288 shares of the wireless technology company's stock, valued at approximately $505,000.
Several other institutional investors and hedge funds have also modified their holdings of the stock. GAMMA Investing LLC lifted its holdings in shares of QUALCOMM by 20,700.4% during the 1st quarter. GAMMA Investing LLC now owns 3,262,754 shares of the wireless technology company's stock worth $501,192,000 after acquiring an additional 3,247,068 shares during the period. Northern Trust Corp raised its stake in shares of QUALCOMM by 12.7% during the fourth quarter. Northern Trust Corp now owns 13,289,513 shares of the wireless technology company's stock worth $2,041,535,000 after buying an additional 1,493,076 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in QUALCOMM by 17.0% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 9,780,687 shares of the wireless technology company's stock valued at $1,502,509,000 after purchasing an additional 1,424,106 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in QUALCOMM in the fourth quarter valued at approximately $204,085,000. Finally, Capital Research Global Investors increased its position in shares of QUALCOMM by 525.5% in the 4th quarter. Capital Research Global Investors now owns 1,413,495 shares of the wireless technology company's stock valued at $217,141,000 after buying an additional 1,187,531 shares in the last quarter. 74.35% of the stock is currently owned by hedge funds and other institutional investors.
QUALCOMM Price Performance
QUALCOMM stock traded down $0.86 during mid-day trading on Tuesday, hitting $146.65. The stock had a trading volume of 1,602,119 shares, compared to its average volume of 8,487,081. QUALCOMM Incorporated has a one year low of $120.80 and a one year high of $182.10. The company has a current ratio of 3.19, a quick ratio of 2.38 and a debt-to-equity ratio of 0.54. The firm has a market capitalization of $158.24 billion, a P/E ratio of 14.12, a P/E/G ratio of 2.18 and a beta of 1.23. The firm's 50 day moving average is $155.15 and its 200 day moving average is $154.70.
QUALCOMM (NASDAQ:QCOM - Get Free Report) last announced its quarterly earnings results on Wednesday, July 30th. The wireless technology company reported $2.77 EPS for the quarter, beating analysts' consensus estimates of $2.71 by $0.06. The firm had revenue of $10.37 billion during the quarter, compared to the consensus estimate of $10.33 billion. QUALCOMM had a net margin of 26.77% and a return on equity of 40.35%. The firm's revenue for the quarter was up 10.4% compared to the same quarter last year. During the same quarter last year, the firm earned $2.33 EPS. On average, sell-side analysts forecast that QUALCOMM Incorporated will post 9.39 earnings per share for the current fiscal year.
QUALCOMM Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Thursday, September 25th. Shareholders of record on Thursday, September 4th will be given a dividend of $0.89 per share. The ex-dividend date of this dividend is Thursday, September 4th. This represents a $3.56 dividend on an annualized basis and a yield of 2.4%. QUALCOMM's payout ratio is 34.33%.
Insider Buying and Selling at QUALCOMM
In other QUALCOMM news, insider Heather S. Ace sold 1,600 shares of the company's stock in a transaction on Friday, August 1st. The stock was sold at an average price of $146.40, for a total transaction of $234,240.00. Following the completion of the sale, the insider owned 21,193 shares in the company, valued at $3,102,655.20. This represents a 7.02% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Inc/De Qualcomm sold 412,500 shares of the business's stock in a transaction dated Friday, May 23rd. The stock was sold at an average price of $16.00, for a total transaction of $6,600,000.00. The disclosure for this sale can be found here. Insiders sold a total of 424,099 shares of company stock valued at $8,352,355 in the last ninety days. Corporate insiders own 0.08% of the company's stock.
Wall Street Analyst Weigh In
A number of research analysts recently weighed in on QCOM shares. Benchmark decreased their target price on shares of QUALCOMM from $240.00 to $200.00 and set a "buy" rating for the company in a research report on Thursday, May 1st. Piper Sandler cut their price target on shares of QUALCOMM from $190.00 to $175.00 and set an "overweight" rating for the company in a report on Thursday, July 31st. Seaport Res Ptn raised shares of QUALCOMM to a "hold" rating in a research note on Friday, May 9th. Mizuho dropped their price objective on shares of QUALCOMM from $190.00 to $185.00 and set an "outperform" rating for the company in a report on Thursday, July 31st. Finally, Robert W. Baird lowered their price objective on QUALCOMM from $250.00 to $216.00 and set an "outperform" rating for the company in a research report on Thursday, May 1st. One analyst has rated the stock with a sell rating, twelve have given a hold rating and eleven have issued a buy rating to the company's stock. According to data from MarketBeat.com, QUALCOMM presently has an average rating of "Hold" and an average price target of $181.10.
Get Our Latest Stock Analysis on QUALCOMM
About QUALCOMM
(
Free Report)
QUALCOMM Incorporated engages in the development and commercialization of foundational technologies for the wireless industry 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 3G/4G/5G and other technologies for use in wireless voice and data communications, networking, computing, multimedia, and position location products.
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