Everence Capital Management Inc. purchased a new position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 28,060 shares of the wireless technology company’s stock, valued at approximately $3,720,000.
Other large investors have also recently added to or reduced their stakes in the company. Wolff Wiese Magana LLC acquired a new position in QUALCOMM during the 4th quarter worth approximately $2,969,000. GW&K Investment Management LLC boosted its holdings in shares of QUALCOMM by 6.4% in the 4th quarter. GW&K Investment Management LLC now owns 176,441 shares of the wireless technology company’s stock valued at $26,879,000 after buying an additional 10,683 shares during the last quarter. Paragon Capital Management Ltd acquired a new stake in shares of QUALCOMM in the 4th quarter valued at approximately $225,000. Fosun International Ltd boosted its holdings in shares of QUALCOMM by 22.4% in the 4th quarter. Fosun International Ltd now owns 27,300 shares of the wireless technology company’s stock valued at $4,054,000 after buying an additional 5,000 shares during the last quarter. Finally, Fairfield Bush & CO. boosted its holdings in shares of QUALCOMM by 6.5% in the 3rd quarter. Fairfield Bush & CO. now owns 26,257 shares of the wireless technology company’s stock valued at $3,090,000 after buying an additional 1,608 shares during the last quarter. 74.76% of the stock is owned by hedge funds and other institutional investors.
Several equities research analysts have recently commented on QCOM shares. Cascend Securities increased their price objective on QUALCOMM from $175.00 to $185.00 and gave the company a “buy” rating in a report on Tuesday, February 2nd. Barclays increased their price objective on QUALCOMM from $135.00 to $150.00 and gave the company an “equal weight” rating in a report on Tuesday, January 26th. They noted that the move was a valuation call. Citigroup downgraded QUALCOMM from a “buy” rating to a “neutral” rating and set a $165.00 price objective for the company. in a report on Thursday, February 4th. Robert W. Baird initiated coverage on QUALCOMM in a research note on Tuesday, December 22nd. They issued an “outperform” rating and a $200.00 price target on the stock. Finally, Royal Bank of Canada increased their price target on QUALCOMM from $126.00 to $150.00 and gave the company a “sector perform” rating in a research note on Thursday, February 4th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the stock. QUALCOMM presently has a consensus rating of “Buy” and a consensus target price of $160.88.
Shares of QCOM traded up $0.14 during trading hours on Thursday, hitting $139.57. 301,690 shares of the company were exchanged, compared to its average volume of 10,771,538. The company has a market cap of $158.55 billion, a price-to-earnings ratio of 30.78, a P/E/G ratio of 1.27 and a beta of 1.34. QUALCOMM Incorporated has a fifty-two week low of $70.00 and a fifty-two week high of $167.94. 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 firm’s fifty day moving average is $134.50 and its 200 day moving average is $140.16.
QUALCOMM (NASDAQ:QCOM) last released its quarterly earnings data on Wednesday, February 3rd. The wireless technology company reported $2.17 earnings per share for the quarter, beating the consensus estimate of $2.10 by $0.07. The business 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%. QUALCOMM’s revenue was up 62.2% compared to the same quarter last year. During the same period last year, the firm posted $0.80 earnings per share. Analysts anticipate that QUALCOMM Incorporated will post 6.33 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 25th. Investors of record on Thursday, March 4th were paid a $0.65 dividend. This represents a $2.60 annualized dividend and a yield of 1.86%. The ex-dividend date of this dividend was Wednesday, March 3rd. 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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