Robertson Stephens Wealth Management LLC bought a new position in QUALCOMM Incorporated (NASDAQ:QCOM) during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 1,747 shares of the wireless technology company’s stock, valued at approximately $205,000.
Several other hedge funds have also recently modified their holdings of QCOM. Morgan Stanley lifted its position in QUALCOMM by 6.3% during the first quarter. Morgan Stanley now owns 5,838,244 shares of the wireless technology company’s stock valued at $394,958,000 after purchasing an additional 346,856 shares during the last quarter. Eastern Bank bought a new position in shares of QUALCOMM in the 2nd quarter valued at about $226,000. Transform Wealth LLC purchased a new position in QUALCOMM in the second quarter worth about $209,000. Janney Montgomery Scott LLC increased its stake in QUALCOMM by 11.2% during the second quarter. Janney Montgomery Scott LLC now owns 305,775 shares of the wireless technology company’s stock worth $27,890,000 after acquiring an additional 30,830 shares during the last quarter. Finally, Winslow Evans & Crocker Inc. raised its position in QUALCOMM by 3.7% during the second quarter. Winslow Evans & Crocker Inc. now owns 5,532 shares of the wireless technology company’s stock valued at $504,000 after purchasing an additional 198 shares during the period. 74.79% of the stock is currently owned by hedge funds and other institutional investors.
In other QUALCOMM news, EVP Alexander H. Rogers sold 8,491 shares of the firm’s stock in a transaction dated Friday, October 2nd. The stock was sold at an average price of $116.78, for a total value of $991,578.98. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Donald J. Rosenberg sold 10,720 shares of the company’s stock in a transaction dated Monday, October 5th. The shares were sold at an average price of $118.27, for a total transaction of $1,267,854.40. Following the transaction, the executive vice president now owns 9,292 shares in the company, valued at approximately $1,098,964.84. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 39,741 shares of company stock worth $4,940,651. 0.12% of the stock is owned by company insiders.
Shares of NASDAQ:QCOM opened at $146.03 on Friday. The firm has a 50 day moving average of $131.09 and a 200 day moving average of $105.96. The company has a quick ratio of 1.67, a current ratio of 1.97 and a debt-to-equity ratio of 4.67. The company has a market capitalization of $165.16 billion, a price-to-earnings ratio of 61.62, a price-to-earnings-growth ratio of 0.89 and a beta of 1.34. QUALCOMM Incorporated has a 52 week low of $58.00 and a 52 week high of $153.33.
QUALCOMM (NASDAQ:QCOM) last announced its quarterly earnings results on Wednesday, November 4th. The wireless technology company reported $1.45 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.17 by $0.28. The business had revenue of $6.50 billion for the quarter, compared to the consensus estimate of $5.94 billion. QUALCOMM had a return on equity of 78.39% and a net margin of 13.72%. The business’s revenue was up 35.3% compared to the same quarter last year. During the same period last year, the business posted $0.78 EPS. On average, sell-side analysts expect that QUALCOMM Incorporated will post 3.2 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, December 17th. Shareholders of record on Thursday, December 3rd will be issued a $0.65 dividend. The ex-dividend date is Wednesday, December 2nd. This represents a $2.60 dividend on an annualized basis and a yield of 1.78%. QUALCOMM’s dividend payout ratio is presently 91.55%.
Several equities analysts have recently weighed in on the company. Raymond James boosted their target price on QUALCOMM from $120.00 to $150.00 and gave the company a “strong-buy” rating in a research report on Thursday, November 5th. Oppenheimer reiterated a “hold” rating on shares of QUALCOMM in a research report on Thursday, November 5th. Wells Fargo & Company upgraded shares of QUALCOMM to an “equal weight” rating and raised their target price for the stock from $120.00 to $145.00 in a report on Thursday, November 5th. KeyCorp upped their price target on shares of QUALCOMM from $145.00 to $175.00 and gave the company an “overweight” rating in a report on Thursday, November 5th. Finally, Edward Jones raised shares of QUALCOMM from a “sell” rating to a “hold” rating in a research note on Friday, July 31st. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating, twenty-one have issued a buy rating and one has assigned a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $142.08.
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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