Nvwm LLC bought a new position in QUALCOMM, Inc. (NASDAQ:QCOM) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 6,718 shares of the wireless technology company’s stock, valued at approximately $454,000.
Other institutional investors and hedge funds have also made changes to their positions in the company. FMR LLC lifted its holdings in QUALCOMM by 2.6% during the 4th quarter. FMR LLC now owns 56,173,678 shares of the wireless technology company’s stock worth $4,956,204,000 after buying an additional 1,433,849 shares in the last quarter. Norges Bank acquired a new position in QUALCOMM during the 4th quarter worth $1,044,613,000. Sumitomo Mitsui Trust Holdings Inc. lifted its holdings in QUALCOMM by 31.2% during the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 6,178,776 shares of the wireless technology company’s stock worth $417,994,000 after buying an additional 1,467,770 shares in the last quarter. Alliancebernstein L.P. lifted its holdings in QUALCOMM by 110.4% during the 4th quarter. Alliancebernstein L.P. now owns 5,969,697 shares of the wireless technology company’s stock worth $526,706,000 after buying an additional 3,132,675 shares in the last quarter. Finally, Renaissance Technologies LLC lifted its holdings in QUALCOMM by 346.1% during the 4th quarter. Renaissance Technologies LLC now owns 5,756,507 shares of the wireless technology company’s stock worth $507,897,000 after buying an additional 4,466,107 shares in the last quarter. 76.65% of the stock is currently owned by institutional investors and hedge funds.
Several research analysts have issued reports on the company. Deutsche Bank raised QUALCOMM from a “hold” rating to a “buy” rating and set a $85.00 price objective on the stock in a report on Friday, March 27th. Tigress Financial reaffirmed a “buy” rating on shares of QUALCOMM in a report on Friday, April 17th. Morgan Stanley upped their price objective on QUALCOMM from $78.00 to $83.00 and gave the stock an “equal weight” rating in a report on Thursday, April 30th. JPMorgan Chase & Co. upped their target price on shares of QUALCOMM from $94.00 to $100.00 and gave the company an “overweight” rating in a research report on Thursday, April 30th. Finally, Piper Sandler started coverage on shares of QUALCOMM in a research report on Wednesday, March 4th. They set a “neutral” rating and a $80.00 target price for the company. Five research analysts have rated the stock with a sell rating, eight have assigned a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $88.57.
NASDAQ QCOM traded down $0.44 on Friday, reaching $77.56. The company had a trading volume of 885,306 shares, compared to its average volume of 9,994,515. The firm has a market capitalization of $90.70 billion, a price-to-earnings ratio of 23.04, a price-to-earnings-growth ratio of 1.42 and a beta of 1.36. The company has a debt-to-equity ratio of 4.42, a quick ratio of 1.39 and a current ratio of 1.57. QUALCOMM, Inc. has a 1-year low of $58.00 and a 1-year high of $96.17. The company’s fifty day moving average is $74.98 and its 200-day moving average is $82.07.
QUALCOMM (NASDAQ:QCOM) last announced its earnings results on Wednesday, April 29th. The wireless technology company reported $0.88 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.79 by $0.09. The firm had revenue of $5.21 billion during the quarter, compared to analyst estimates of $5.04 billion. QUALCOMM had a net margin of 16.36% and a return on equity of 69.92%. The company’s revenue for the quarter was up 6.6% compared to the same quarter last year. During the same period in the prior year, the business earned $0.77 EPS. On average, research analysts forecast that QUALCOMM, Inc. will post 3.08 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, June 25th. Investors of record on Thursday, June 4th will be paid a $0.65 dividend. The ex-dividend date of this dividend is Wednesday, June 3rd. This is a positive change from QUALCOMM’s previous quarterly dividend of $0.62. This represents a $2.60 dividend on an annualized basis and a yield of 3.35%. QUALCOMM’s dividend payout ratio is presently 87.32%.
QUALCOMM Company Profile
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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