Nan Shan Life Insurance Co. Ltd. reduced its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 43.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 302,329 shares of the wireless technology company’s stock after selling 233,340 shares during the quarter. Nan Shan Life Insurance Co. Ltd.’s holdings in QUALCOMM were worth $46,057,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Moser Wealth Advisors LLC grew its stake in shares of QUALCOMM by 223.2% in the fourth quarter. Moser Wealth Advisors LLC now owns 181 shares of the wireless technology company’s stock worth $28,000 after purchasing an additional 125 shares in the last quarter. Addison Advisors LLC bought a new position in shares of QUALCOMM in the fourth quarter worth $32,000. Joseph P. Lucia & Associates LLC bought a new position in shares of QUALCOMM in the fourth quarter worth $33,000. ForthRight Wealth Management LLC bought a new position in shares of QUALCOMM in the fourth quarter worth $33,000. Finally, Clark Financial Advisors bought a new position in shares of QUALCOMM in the fourth quarter worth $41,000. Hedge funds and other institutional investors own 74.76% of the company’s stock.
QCOM traded down $2.88 during trading on Tuesday, hitting $136.58. The company’s stock had a trading volume of 605,652 shares, compared to its average volume of 10,313,883. The company has a quick ratio of 1.84, a current ratio of 2.14 and a debt-to-equity ratio of 2.51. The stock has a market capitalization of $155.15 billion, a price-to-earnings ratio of 30.79, a price-to-earnings-growth ratio of 1.27 and a beta of 1.34. The firm’s 50 day moving average price is $153.95 and its two-hundred day moving average price is $135.95. QUALCOMM Incorporated has a 12 month low of $58.00 and a 12 month high of $167.94.
QUALCOMM (NASDAQ:QCOM) last posted its quarterly earnings data on Wednesday, February 3rd. The wireless technology company reported $2.17 EPS for the quarter, topping analysts’ consensus estimates of $2.10 by $0.07. The company had revenue of $8.24 billion for the quarter, compared to analyst estimates of $8.26 billion. QUALCOMM had a return on equity of 90.74% and a net margin of 22.09%. The business’s revenue was up 62.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.80 earnings per share. On average, sell-side analysts forecast that QUALCOMM Incorporated will post 6.33 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 25th. Shareholders of record on Thursday, March 4th will be paid a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a yield of 1.90%. The ex-dividend date is Wednesday, March 3rd. QUALCOMM’s dividend payout ratio is currently 77.84%.
In other news, President Cristiano R. Amon sold 73,220 shares of the company’s stock in a transaction on Wednesday, December 16th. The stock was sold at an average price of $148.72, for a total transaction of $10,889,278.40. Following the transaction, the president now owns 50,753 shares of the company’s stock, valued at $7,547,986.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Alexander H. Rogers sold 35,102 shares of the company’s stock in a transaction on Tuesday, December 8th. The shares were sold at an average price of $157.17, for a total value of $5,516,981.34. Following the transaction, the executive vice president now directly owns 64,365 shares in the company, valued at approximately $10,116,247.05. The disclosure for this sale can be found here. 0.12% of the stock is currently owned by insiders.
Several analysts have recently weighed in on the company. Sanford C. Bernstein restated a “buy” rating and issued a $165.00 price objective on shares of QUALCOMM in a report on Thursday, November 5th. Morgan Stanley reduced their target price on QUALCOMM from $171.00 to $167.00 and set an “overweight” rating for the company in a report on Thursday, February 4th. Deutsche Bank Aktiengesellschaft upped their target price on QUALCOMM from $170.00 to $190.00 and gave the company a “buy” rating in a report on Thursday, February 4th. Raymond James upped their target price on QUALCOMM from $150.00 to $190.00 and gave the company a “strong-buy” rating in a report on Tuesday, January 19th. Finally, Robert W. Baird began coverage on QUALCOMM in a research note on Tuesday, December 22nd. They issued an “outperform” rating and a $200.00 price objective for the company. One analyst has rated the stock with a sell rating, eleven have issued a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $157.81.
QUALCOMM Incorporated engages in the development and commercialization of foundational technologies and products are used in mobile devices and other wireless products, including network equipment, broadband gateway equipment, consumer electronic devices, and other connected devices worldwide. It operates through three segments: Qualcomm CDMA Technologies (QCT); Qualcomm Technology Licensing (QTL); and Qualcomm Strategic Initiatives (QSI).
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