Janney Montgomery Scott LLC grew its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 5.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 681,808 shares of the wireless technology company's stock after acquiring an additional 37,097 shares during the quarter. Janney Montgomery Scott LLC owned about 0.06% of QUALCOMM worth $104,733,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Columbus Macro LLC grew its holdings in QUALCOMM by 2.3% during the first quarter. Columbus Macro LLC now owns 50,720 shares of the wireless technology company's stock worth $7,791,000 after buying an additional 1,129 shares in the last quarter. Access Financial Services Inc. grew its stake in shares of QUALCOMM by 35.4% during the 1st quarter. Access Financial Services Inc. now owns 10,680 shares of the wireless technology company's stock worth $1,641,000 after acquiring an additional 2,794 shares during the period. Fairvoy Private Wealth LLC grew its stake in shares of QUALCOMM by 9.6% during the 1st quarter. Fairvoy Private Wealth LLC now owns 2,305 shares of the wireless technology company's stock worth $354,000 after acquiring an additional 201 shares during the period. Optas LLC grew its stake in shares of QUALCOMM by 24.0% during the 1st quarter. Optas LLC now owns 6,996 shares of the wireless technology company's stock worth $1,075,000 after acquiring an additional 1,353 shares during the period. Finally, D Orazio & Associates Inc. lifted its holdings in QUALCOMM by 3.1% during the 1st quarter. D Orazio & Associates Inc. now owns 2,852 shares of the wireless technology company's stock worth $438,000 after purchasing an additional 85 shares in the last quarter. Institutional investors own 74.35% of the company's stock.
Wall Street Analyst Weigh In
A number of analysts recently issued reports on QCOM shares. Loop Capital dropped their price objective on QUALCOMM from $180.00 to $155.00 and set a "hold" rating on the stock in a report on Thursday, May 1st. Evercore ISI decreased their price objective on QUALCOMM from $179.00 to $157.00 and set an "in-line" rating on the stock in a report on Friday, May 2nd. Wall Street Zen cut QUALCOMM from a "buy" rating to a "hold" rating in a report on Thursday, May 22nd. Susquehanna reduced their price target on QUALCOMM from $210.00 to $190.00 and set a "positive" rating on the stock in a research report on Thursday, May 1st. Finally, Cantor Fitzgerald reiterated a "neutral" rating and issued a $150.00 price objective on shares of QUALCOMM in a research report on Thursday, May 1st. One analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and twelve have given a buy rating to the company's stock. Based on data from MarketBeat.com, QUALCOMM has an average rating of "Hold" and a consensus price target of $189.88.
View Our Latest Stock Analysis on QUALCOMM
QUALCOMM Trading Down 2.5%
QUALCOMM stock opened at $154.72 on Monday. The company has a current ratio of 2.62, a quick ratio of 1.99 and a debt-to-equity ratio of 0.49. The business's fifty day simple moving average is $145.85 and its two-hundred day simple moving average is $155.14. QUALCOMM Incorporated has a 12 month low of $120.80 and a 12 month high of $230.63. The company has a market capitalization of $169.88 billion, a price-to-earnings ratio of 16.53, a price-to-earnings-growth ratio of 2.01 and a beta of 1.26.
QUALCOMM (NASDAQ:QCOM - Get Free Report) last released its earnings results on Wednesday, April 30th. The wireless technology company reported $2.85 EPS for the quarter, topping the consensus estimate of $2.82 by $0.03. QUALCOMM had a return on equity of 39.51% and a net margin of 25.94%. The business had revenue of $10.98 billion for the quarter, compared to the consensus estimate of $10.58 billion. During the same period in the previous year, the company posted $2.44 earnings per share. The company's revenue for the quarter was up 17.0% compared to the same quarter last year. As a group, equities analysts predict that QUALCOMM Incorporated will post 9.39 earnings per share for the current fiscal year.
QUALCOMM Increases Dividend
The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 26th. Stockholders of record on Thursday, June 5th will be paid a $0.89 dividend. The ex-dividend date is Thursday, June 5th. This represents a $3.56 annualized dividend and a dividend yield of 2.30%. This is a boost from QUALCOMM's previous quarterly dividend of $0.85. QUALCOMM's payout ratio is currently 36.25%.
Insider Transactions at QUALCOMM
In related news, CFO Akash J. Palkhiwala sold 3,333 shares of the company's stock in a transaction on Monday, June 2nd. The stock was sold at an average price of $146.10, for a total transaction of $486,951.30. Following the completion of the sale, the chief financial officer now owns 49,779 shares in the company, valued at approximately $7,272,711.90. This represents a 6.28% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Heather S. Ace sold 1,600 shares of the company's stock in a transaction on Friday, May 2nd. The shares were sold at an average price of $137.74, for a total value of $220,384.00. Following the sale, the insider now owns 22,793 shares of the company's stock, valued at approximately $3,139,507.82. This trade represents a 6.56% decrease in their position. The disclosure for this sale can be found here. Insiders sold 423,464 shares of company stock worth $8,135,164 over the last quarter. 0.08% of the stock is currently owned by insiders.
QUALCOMM Profile
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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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