First Affirmative Financial Network increased its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM – Get Rating) by 8.7% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,479 shares of the wireless technology company’s stock after purchasing an additional 118 shares during the quarter. First Affirmative Financial Network’s holdings in QUALCOMM were worth $226,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Pacific Wealth Management lifted its stake in shares of QUALCOMM by 10.0% during the 1st quarter. Pacific Wealth Management now owns 2,552 shares of the wireless technology company’s stock worth $390,000 after purchasing an additional 233 shares during the last quarter. First American Trust FSB lifted its stake in shares of QUALCOMM by 4.2% during the 1st quarter. First American Trust FSB now owns 47,871 shares of the wireless technology company’s stock worth $7,315,000 after purchasing an additional 1,945 shares during the last quarter. Old Port Advisors lifted its stake in shares of QUALCOMM by 112.2% during the 1st quarter. Old Port Advisors now owns 2,474 shares of the wireless technology company’s stock worth $364,000 after purchasing an additional 1,308 shares during the last quarter. CCG Wealth Management LLC lifted its stake in shares of QUALCOMM by 6.5% during the 1st quarter. CCG Wealth Management LLC now owns 3,292 shares of the wireless technology company’s stock worth $503,000 after purchasing an additional 200 shares during the last quarter. Finally, Spring Capital Management LLC increased its position in QUALCOMM by 0.9% during the 1st quarter. Spring Capital Management LLC now owns 48,548 shares of the wireless technology company’s stock valued at $7,419,000 after buying an additional 418 shares in the last quarter. Hedge funds and other institutional investors own 73.61% of the company’s stock.
Several research analysts recently issued reports on QCOM shares. JPMorgan Chase & Co. reduced their target price on QUALCOMM from $240.00 to $205.00 in a research report on Tuesday, April 5th. StockNews.com raised QUALCOMM from a “buy” rating to a “strong-buy” rating in a research report on Saturday, May 7th. Deutsche Bank Aktiengesellschaft reduced their target price on QUALCOMM from $210.00 to $190.00 and set a “buy” rating on the stock in a research report on Wednesday, April 20th. Susquehanna Bancshares reduced their target price on QUALCOMM from $190.00 to $165.00 in a research report on Thursday, April 28th. Finally, Morgan Stanley upped their target price on QUALCOMM from $167.00 to $170.00 in a research report on Thursday, April 28th. Nine analysts have rated the stock with a hold rating, fifteen have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $196.48.
QUALCOMM (NASDAQ:QCOM – Get Rating) last issued its quarterly earnings results on Wednesday, April 27th. The wireless technology company reported $2.86 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.67 by $0.19. The company had revenue of $11.16 billion for the quarter, compared to the consensus estimate of $10.58 billion. QUALCOMM had a return on equity of 103.73% and a net margin of 28.42%. During the same quarter in the prior year, the business posted $1.59 earnings per share. Equities analysts expect that QUALCOMM Incorporated will post 11.12 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 23rd. Shareholders of record on Thursday, June 2nd will be given a dividend of $0.75 per share. The ex-dividend date of this dividend is Wednesday, June 1st. This represents a $3.00 dividend on an annualized basis and a yield of 2.46%. This is an increase from QUALCOMM’s previous quarterly dividend of $0.68. QUALCOMM’s dividend payout ratio is currently 30.71%.
In other QUALCOMM news, CAO Erin L. Polek sold 1,521 shares of the stock in a transaction that occurred on Monday, May 23rd. The stock was sold at an average price of $129.95, for a total transaction of $197,653.95. The sale was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 0.05% of the company’s stock.
QUALCOMM Company Profile (Get Rating)
QUALCOMM Incorporated engages in the development and commercialization of foundational technologies for the wireless industry worldwide. The company 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, application processing, multimedia, and global positioning system products.
- Get a free copy of the StockNews.com research report on QUALCOMM (QCOM)
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