Strategic Advisors LLC acquired a new position in shares of QUALCOMM, Inc. (NASDAQ:QCOM) during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 3,137 shares of the wireless technology company’s stock, valued at approximately $226,000.
A number of other institutional investors have also recently made changes to their positions in the business. Stephens Inc. AR boosted its stake in shares of QUALCOMM by 13.3% in the 2nd quarter. Stephens Inc. AR now owns 102,292 shares of the wireless technology company’s stock valued at $5,741,000 after purchasing an additional 11,974 shares in the last quarter. Asset Dedication LLC raised its holdings in QUALCOMM by 11.3% during the 2nd quarter. Asset Dedication LLC now owns 8,788 shares of the wireless technology company’s stock worth $493,000 after purchasing an additional 894 shares during the last quarter. Pzena Investment Management LLC raised its holdings in QUALCOMM by 1.5% during the 2nd quarter. Pzena Investment Management LLC now owns 711,742 shares of the wireless technology company’s stock worth $39,943,000 after purchasing an additional 10,759 shares during the last quarter. Argent Trust Co raised its holdings in QUALCOMM by 264.6% during the 2nd quarter. Argent Trust Co now owns 46,900 shares of the wireless technology company’s stock worth $2,632,000 after purchasing an additional 34,036 shares during the last quarter. Finally, Centaurus Financial Inc. raised its holdings in QUALCOMM by 298.5% during the 2nd quarter. Centaurus Financial Inc. now owns 14,281 shares of the wireless technology company’s stock worth $801,000 after purchasing an additional 10,697 shares during the last quarter. Hedge funds and other institutional investors own 76.93% of the company’s stock.
Several research analysts have issued reports on the stock. Cowen lowered their price target on shares of QUALCOMM from $80.00 to $73.00 and set an “outperform” rating for the company in a report on Thursday. Canaccord Genuity lowered their price objective on shares of QUALCOMM from $86.00 to $75.00 and set a “buy” rating for the company in a research note on Thursday. Stifel Nicolaus lowered their price objective on shares of QUALCOMM from $62.00 to $58.00 and set a “hold” rating for the company in a research note on Thursday. Deutsche Bank lowered their price objective on shares of QUALCOMM to $65.00 and set a “hold” rating for the company in a research note on Thursday. Finally, ValuEngine lowered shares of QUALCOMM from a “buy” rating to a “hold” rating in a research note on Tuesday. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and thirteen have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $70.86.
QCOM traded down $1.33 during mid-day trading on Friday, reaching $56.72. 21,741,417 shares of the stock were exchanged, compared to its average volume of 15,329,802. The company has a debt-to-equity ratio of 0.67, a current ratio of 2.73 and a quick ratio of 2.62. The company has a market capitalization of $92.86 billion, a price-to-earnings ratio of 17.78, a P/E/G ratio of 1.96 and a beta of 1.69. QUALCOMM, Inc. has a 1 year low of $48.56 and a 1 year high of $76.50.
QUALCOMM (NASDAQ:QCOM) last posted its quarterly earnings data on Wednesday, November 7th. The wireless technology company reported $0.90 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.70 by $0.20. The firm had revenue of $5.83 billion for the quarter, compared to the consensus estimate of $5.54 billion. QUALCOMM had a negative net margin of 21.40% and a positive return on equity of 19.92%. The business’s revenue for the quarter was down 2.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.92 EPS. As a group, equities analysts anticipate that QUALCOMM, Inc. will post 2.8 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, December 20th. Investors of record on Thursday, December 6th will be issued a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a dividend yield of 4.37%. The ex-dividend date is Wednesday, December 5th. QUALCOMM’s dividend payout ratio (DPR) is currently 77.74%.
QUALCOMM announced that its board has approved a stock buyback plan on Thursday, July 26th that allows the company to buyback $30.00 billion in outstanding shares. This buyback authorization allows the wireless technology company to repurchase up to 34.1% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s leadership believes its shares are undervalued.
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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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