Oak Ridge Investments LLC boosted its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 0.2% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 64,466 shares of the wireless technology company’s stock after acquiring an additional 142 shares during the quarter. Oak Ridge Investments LLC’s holdings in QUALCOMM were worth $8,548,000 at the end of the most recent quarter.
Other institutional investors have also recently made changes to their positions in the company. Wealthcare Capital Management LLC purchased a new position in QUALCOMM during the 1st quarter valued at about $26,000. Capital Directions Investment Advisors LLC boosted its holdings in QUALCOMM by 100.0% during the 4th quarter. Capital Directions Investment Advisors LLC now owns 200 shares of the wireless technology company’s stock valued at $30,000 after acquiring an additional 100 shares during the period. RMR Wealth Builders purchased a new position in QUALCOMM during the 4th quarter valued at about $30,000. Valley Brook Capital Group purchased a new position in QUALCOMM during the 4th quarter valued at about $30,000. Finally, IronBridge Private Wealth LLC purchased a new position in QUALCOMM during the 4th quarter valued at about $33,000. Institutional investors own 72.53% of the company’s stock.
Several equities analysts have recently issued reports on the company. Evercore ISI reiterated an “in-line” rating and issued a $150.00 price objective (down previously from $195.00) on shares of QUALCOMM in a research note on Monday, April 19th. Morgan Stanley lifted their price objective on QUALCOMM from $167.00 to $173.00 and gave the company an “overweight” rating in a research note on Thursday, April 29th. Piper Sandler lifted their price objective on QUALCOMM from $160.00 to $175.00 and gave the company an “overweight” rating in a research note on Thursday, April 29th. Susquehanna restated a “neutral” rating and set a $155.00 target price (down previously from $175.00) on shares of QUALCOMM in a research note on Monday, April 26th. Finally, Citigroup decreased their target price on QUALCOMM from $165.00 to $154.00 in a research note on Thursday, April 29th. Twelve analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the stock. QUALCOMM currently has an average rating of “Buy” and an average price target of $163.65.
QUALCOMM (NASDAQ:QCOM) last released its earnings results on Wednesday, April 28th. The wireless technology company reported $1.90 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.41 by $0.49. The firm had revenue of $7.93 billion during the quarter, compared to analyst estimates of $7.62 billion. QUALCOMM had a return on equity of 103.71% and a net margin of 27.28%. The business’s quarterly revenue was up 52.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.88 earnings per share. On average, research analysts predict that QUALCOMM Incorporated will post 6.66 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 24th. Investors of record on Thursday, June 3rd will be paid a $0.68 dividend. This is a positive change from QUALCOMM’s previous quarterly dividend of $0.65. This represents a $2.72 annualized dividend and a yield of 2.03%. The ex-dividend date of this dividend is Wednesday, June 2nd. QUALCOMM’s dividend payout ratio is presently 81.44%.
In other QUALCOMM news, EVP Brian Modoff sold 1,510 shares of the company’s stock in a transaction dated Friday, May 14th. The stock was sold at an average price of $129.32, for a total transaction of $195,273.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO Erin L. Polek sold 1,835 shares of the company’s stock in a transaction dated Friday, May 21st. The stock was sold at an average price of $132.00, for a total value of $242,220.00. Corporate insiders own 0.14% of the company’s stock.
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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