Wellington Shields & Co. LLC trimmed its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 41.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 3,800 shares of the wireless technology company’s stock after selling 2,700 shares during the quarter. Wellington Shields & Co. LLC’s holdings in QUALCOMM were worth $579,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also made changes to their positions in QCOM. Xcel Wealth Management LLC boosted its position in shares of QUALCOMM by 1.2% in the fourth quarter. Xcel Wealth Management LLC now owns 5,934 shares of the wireless technology company’s stock worth $903,000 after purchasing an additional 70 shares during the period. PDS Planning Inc boosted its position in shares of QUALCOMM by 3.9% in the fourth quarter. PDS Planning Inc now owns 1,867 shares of the wireless technology company’s stock worth $284,000 after purchasing an additional 70 shares during the period. Bedel Financial Consulting Inc. boosted its position in shares of QUALCOMM by 19.5% in the fourth quarter. Bedel Financial Consulting Inc. now owns 459 shares of the wireless technology company’s stock worth $70,000 after purchasing an additional 75 shares during the period. ICW Investment Advisors LLC boosted its position in shares of QUALCOMM by 2.3% in the third quarter. ICW Investment Advisors LLC now owns 3,440 shares of the wireless technology company’s stock worth $405,000 after purchasing an additional 78 shares during the period. Finally, Savant Capital LLC boosted its position in shares of QUALCOMM by 1.0% in the fourth quarter. Savant Capital LLC now owns 7,993 shares of the wireless technology company’s stock worth $1,218,000 after purchasing an additional 81 shares during the period. Institutional investors own 74.76% of the company’s stock.
In related news, EVP Alexander H. Rogers sold 35,102 shares of QUALCOMM stock in a transaction dated Tuesday, December 8th. The shares were sold at an average price of $157.17, for a total transaction of $5,516,981.34. Following the completion of the sale, the executive vice president now owns 64,365 shares in the company, valued at approximately $10,116,247.05. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, President Cristiano R. Amon sold 73,220 shares of QUALCOMM stock in a transaction dated Wednesday, December 16th. The shares were sold at an average price of $148.72, for a total transaction of $10,889,278.40. Following the sale, the president now owns 50,753 shares of the company’s stock, valued at approximately $7,547,986.16. The disclosure for this sale can be found here. 0.12% of the stock is currently owned by company insiders.
A number of research firms have weighed in on QCOM. Wells Fargo & Company upgraded shares of QUALCOMM to an “equal weight” rating and upped their price target for the stock from $120.00 to $145.00 in a research report on Thursday, November 5th. Citigroup lowered shares of QUALCOMM from a “buy” rating to a “neutral” rating and set a $165.00 price target for the company. in a research report on Thursday, February 4th. Rosenblatt Securities upped their target price on shares of QUALCOMM from $155.00 to $175.00 and gave the stock a “buy” rating in a research report on Wednesday, February 3rd. JPMorgan Chase & Co. set a $160.00 target price on shares of QUALCOMM and gave the stock a “buy” rating in a research report on Thursday, November 5th. Finally, KeyCorp upped their target price on shares of QUALCOMM from $175.00 to $180.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 6th. One analyst has rated the stock with a sell rating, eleven have given a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $157.81.
Shares of QUALCOMM stock traded down $1.76 during trading on Tuesday, hitting $137.70. The stock had a trading volume of 455,199 shares, compared to its average volume of 10,313,883. The firm’s fifty day simple moving average is $153.95 and its 200-day simple moving average is $135.95. The stock has a market cap of $156.43 billion, a PE ratio of 30.79, a PEG ratio of 1.27 and a beta of 1.34. The company has a debt-to-equity ratio of 2.51, a current ratio of 2.14 and a quick ratio of 1.84. QUALCOMM Incorporated has a 12 month low of $58.00 and a 12 month high of $167.94.
QUALCOMM (NASDAQ:QCOM) last released its earnings results on Wednesday, February 3rd. The wireless technology company reported $2.17 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.10 by $0.07. The firm had revenue of $8.24 billion during the quarter, compared to analyst estimates of $8.26 billion. QUALCOMM had a net margin of 22.09% and a return on equity of 90.74%. The business’s revenue was up 62.2% on a year-over-year basis. During the same quarter last year, the business earned $0.80 EPS. Analysts expect that QUALCOMM Incorporated will post 6.33 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, March 25th. Stockholders of record on Thursday, March 4th will be issued a $0.65 dividend. The ex-dividend date is Wednesday, March 3rd. This represents a $2.60 annualized dividend and a dividend yield of 1.89%. QUALCOMM’s dividend payout ratio (DPR) is presently 77.84%.
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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