Byrne Financial Freedom LLC grew its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 49.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 7,387 shares of the wireless technology company's stock after acquiring an additional 2,432 shares during the quarter. Byrne Financial Freedom LLC's holdings in QUALCOMM were worth $1,135,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors also recently modified their holdings of QCOM. Vanguard Group Inc. boosted its stake in shares of QUALCOMM by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 113,730,186 shares of the wireless technology company's stock worth $17,471,231,000 after acquiring an additional 707,468 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of QUALCOMM by 2.5% during the fourth quarter. Geode Capital Management LLC now owns 27,798,900 shares of the wireless technology company's stock valued at $4,262,826,000 after purchasing an additional 670,432 shares during the last quarter. Norges Bank acquired a new position in shares of QUALCOMM in the 4th quarter valued at $2,721,882,000. Northern Trust Corp boosted its position in shares of QUALCOMM by 12.7% in the 4th quarter. Northern Trust Corp now owns 13,289,513 shares of the wireless technology company's stock valued at $2,041,535,000 after purchasing an additional 1,493,076 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in QUALCOMM by 17.0% in the 4th 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 worth $1,502,509,000 after purchasing an additional 1,424,106 shares in the last quarter. Institutional investors and hedge funds own 74.35% of the company's stock.
QUALCOMM Trading Down 0.1%
NASDAQ QCOM opened at $162.11 on Monday. QUALCOMM Incorporated has a one year low of $120.80 and a one year high of $211.09. The company has a debt-to-equity ratio of 0.48, a current ratio of 2.73 and a quick ratio of 2.08. The firm has a market cap of $177.99 billion, a P/E ratio of 16.51, a P/E/G ratio of 2.09 and a beta of 1.26. The stock's 50-day moving average is $151.32 and its 200-day moving average is $154.97.
QUALCOMM (NASDAQ:QCOM - Get Free Report) last announced 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 net margin of 26.11% and a return on equity of 40.11%. The firm had revenue of $10.98 billion for the quarter, compared to the consensus estimate of $10.58 billion. During the same period last year, the company posted $2.44 EPS. The business's quarterly revenue was up 17.0% on a year-over-year basis. Sell-side analysts anticipate that QUALCOMM Incorporated will post 9.39 earnings per share for the current fiscal year.
QUALCOMM Increases Dividend
The company also recently declared a quarterly dividend, which was paid on Thursday, June 26th. Shareholders of record on Thursday, June 5th were paid a $0.89 dividend. This is an increase from QUALCOMM's previous quarterly dividend of $0.85. The ex-dividend date of this dividend was Thursday, June 5th. This represents a $3.56 annualized dividend and a dividend yield of 2.20%. QUALCOMM's dividend payout ratio (DPR) is currently 36.25%.
Wall Street Analysts Forecast Growth
A number of research firms recently commented on QCOM. JPMorgan Chase & Co. reaffirmed an "overweight" rating and issued a $185.00 price objective on shares of QUALCOMM in a research note on Tuesday, April 29th. Bank of America reduced their target price on QUALCOMM from $245.00 to $200.00 and set a "buy" rating for the company in a report on Tuesday, June 17th. Wall Street Zen cut QUALCOMM from a "buy" rating to a "hold" rating in a research report on Thursday, May 22nd. Rosenblatt Securities reissued a "buy" rating and set a $225.00 price target on shares of QUALCOMM in a research report on Thursday, May 1st. Finally, Benchmark reduced their price objective on QUALCOMM from $240.00 to $200.00 and set a "buy" rating for the company in a research note on Thursday, May 1st. One research analyst has rated the stock with a sell rating, sixteen have given a hold rating and twelve have given a buy rating to the company's stock. According to MarketBeat, QUALCOMM currently has an average rating of "Hold" and an average price target of $186.96.
View Our Latest Stock Analysis on QCOM
Insider Buying and Selling at QUALCOMM
In related news, CFO Akash J. Palkhiwala sold 3,333 shares of the firm's stock in a transaction on Wednesday, July 2nd. The shares were sold at an average price of $161.28, for a total value of $537,546.24. Following the completion of the transaction, the chief financial officer owned 46,446 shares of the company's stock, valued at approximately $7,490,810.88. This trade represents a 6.70% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Heather S. Ace sold 1,600 shares of the business's stock in a transaction dated Friday, May 2nd. The stock was sold at an average price of $137.74, for a total transaction of $220,384.00. Following the sale, the insider directly owned 22,793 shares in the company, valued at $3,139,507.82. This trade represents a 6.56% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 424,747 shares of company stock valued at $8,402,174 in the last 90 days. 0.08% of the stock is currently owned by company insiders.
QUALCOMM Profile
(
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.
Further Reading
Want to see what other hedge funds are holding QCOM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for QUALCOMM Incorporated (NASDAQ:QCOM - Free Report).
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