Texas Bank & Trust Co acquired a new stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 7,314 shares of the wireless technology company's stock, valued at approximately $1,124,000.
Several other hedge funds and other institutional investors have also made changes to their positions in QCOM. Norges Bank bought a new position in shares of QUALCOMM during the 4th quarter valued at about $2,721,882,000. Amundi boosted its holdings in shares of QUALCOMM by 36.6% during the 4th quarter. Amundi now owns 14,579,529 shares of the wireless technology company's stock valued at $2,313,634,000 after purchasing an additional 3,905,918 shares during the last quarter. Raymond James Financial Inc. bought a new position in shares of QUALCOMM in the 4th quarter valued at about $527,053,000. Northern Trust Corp lifted its holdings 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 acquiring an additional 1,493,076 shares during the last quarter. Finally, Capital Research Global Investors lifted its holdings 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 acquiring an additional 1,187,531 shares during the last quarter. Institutional investors own 74.35% of the company's stock.
Insider Activity
In other QUALCOMM news, CFO Akash J. Palkhiwala sold 269 shares of the company's stock in a transaction on Monday, April 7th. The shares were sold at an average price of $131.10, for a total value of $35,265.90. Following the sale, the chief financial officer now directly owns 57,728 shares of the company's stock, valued at approximately $7,568,140.80. This represents a 0.46% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Heather S. Ace sold 1,600 shares of the company's stock in a transaction on Wednesday, March 12th. The shares were sold at an average price of $154.24, for a total transaction of $246,784.00. Following the completion of the sale, the insider now directly owns 24,393 shares in the company, valued at approximately $3,762,376.32. The trade was a 6.16% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 13,312 shares of company stock valued at $1,948,379 over the last ninety days. 0.08% of the stock is currently owned by insiders.
QUALCOMM Stock Performance
Shares of QUALCOMM stock traded up $0.12 during midday trading on Tuesday, hitting $153.82. The company had a trading volume of 5,265,290 shares, compared to its average volume of 8,904,832. The stock has a market cap of $168.89 billion, a price-to-earnings ratio of 16.43, a PEG ratio of 2.01 and a beta of 1.29. The company has a quick ratio of 1.99, a current ratio of 2.62 and a debt-to-equity ratio of 0.49. QUALCOMM Incorporated has a 12-month low of $120.80 and a 12-month high of $230.63. The company has a fifty day simple moving average of $145.99 and a 200 day simple moving average of $156.70.
QUALCOMM (NASDAQ:QCOM - Get Free Report) last announced its quarterly earnings data on Wednesday, April 30th. The wireless technology company reported $2.85 earnings per share for the quarter, beating analysts' consensus estimates of $2.82 by $0.03. The firm had revenue of $10.98 billion for the quarter, compared to analyst estimates of $10.58 billion. QUALCOMM had a net margin of 25.94% and a return on equity of 39.51%. The business's quarterly revenue was up 17.0% compared to the same quarter last year. During the same period in the previous year, the company earned $2.44 earnings per share. As a group, analysts predict that QUALCOMM Incorporated will post 9.39 earnings per share for the current fiscal year.
QUALCOMM Increases Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 26th. Stockholders of record on Thursday, June 5th will be issued a dividend of $0.89 per share. The ex-dividend date is Thursday, June 5th. This is a positive change from QUALCOMM's previous quarterly dividend of $0.85. This represents a $3.56 dividend on an annualized basis and a dividend yield of 2.31%. QUALCOMM's payout ratio is 36.25%.
Wall Street Analyst Weigh In
A number of research analysts recently commented on QCOM shares. Benchmark lowered their price target on shares of QUALCOMM from $240.00 to $200.00 and set a "buy" rating for the company in a report on Thursday, May 1st. Evercore ISI lowered their price target on shares of QUALCOMM from $179.00 to $157.00 and set an "in-line" rating for the company in a report on Friday, May 2nd. Wells Fargo & Company lowered their price target on shares of QUALCOMM from $175.00 to $140.00 and set an "underweight" rating for the company in a report on Thursday, May 1st. Cantor Fitzgerald reissued a "neutral" rating and issued a $150.00 target price on shares of QUALCOMM in a research note on Thursday, May 1st. Finally, Loop Capital reduced their target price on shares of QUALCOMM from $180.00 to $155.00 and set a "hold" rating on the stock in a research note on Thursday, May 1st. One investment analyst has rated the stock with a sell rating, fifteen have given a hold rating and fourteen have given a buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $192.08.
Check Out Our Latest Research Report on QCOM
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.
Read More
Before you consider QUALCOMM, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and QUALCOMM wasn't on the list.
While QUALCOMM currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Nuclear energy stocks are roaring. It's the hottest energy sector of the year. Cameco Corp, Paladin Energy, and BWX Technologies were all up more than 40% in 2024. The biggest market moves could still be ahead of us, and there are seven nuclear energy stocks that could rise much higher in the next several months. To unlock these tickers, enter your email address below.
Get This Free Report
