Braun Bostich & Associates Inc. grew its stake in shares of QUALCOMM, Inc. (NASDAQ:QCOM) by 6.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,433 shares of the wireless technology company’s stock after acquiring an additional 306 shares during the period. Braun Bostich & Associates Inc.’s holdings in QUALCOMM were worth $358,000 at the end of the most recent quarter.
A number of other institutional investors have also recently made changes to their positions in the stock. Adell Harriman & Carpenter Inc. grew its position in shares of QUALCOMM by 1.9% during the fourth quarter. Adell Harriman & Carpenter Inc. now owns 61,514 shares of the wireless technology company’s stock worth $5,427,000 after acquiring an additional 1,124 shares during the last quarter. CFM Wealth Partners LLC acquired a new stake in QUALCOMM in the 4th quarter valued at approximately $846,000. Patriot Financial Group Insurance Agency LLC raised its stake in QUALCOMM by 34.2% during the 4th quarter. Patriot Financial Group Insurance Agency LLC now owns 3,964 shares of the wireless technology company’s stock valued at $350,000 after acquiring an additional 1,010 shares in the last quarter. Regal Investment Advisors LLC raised its stake in QUALCOMM by 5.6% during the 4th quarter. Regal Investment Advisors LLC now owns 2,907 shares of the wireless technology company’s stock valued at $256,000 after acquiring an additional 153 shares in the last quarter. Finally, 360 Financial Inc. acquired a new position in QUALCOMM during the 4th quarter worth $309,000. 76.65% of the stock is owned by hedge funds and other institutional investors.
Several equities research analysts recently weighed in on the stock. Deutsche Bank raised shares of QUALCOMM from a “hold” rating to a “buy” rating and set a $85.00 price objective for the company in a report on Friday, March 27th. ValuEngine raised shares of QUALCOMM from a “sell” rating to a “hold” rating in a research note on Tuesday, March 3rd. BNP Paribas lowered shares of QUALCOMM from an “outperform” rating to an “underperform” rating and set a $65.00 price objective on the stock. in a research note on Tuesday, March 24th. Zacks Investment Research cut QUALCOMM from a “hold” rating to a “sell” rating and set a $85.00 target price on the stock. in a report on Thursday. Finally, BidaskClub raised QUALCOMM from a “sell” rating to a “hold” rating in a research note on Saturday, May 9th. Five investment analysts have rated the stock with a sell rating, eight have given a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company. QUALCOMM presently has a consensus rating of “Hold” and a consensus price target of $88.57.
QUALCOMM (NASDAQ:QCOM) last announced its earnings results on Wednesday, April 29th. The wireless technology company reported $0.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.79 by $0.09. The company had revenue of $5.21 billion for the quarter, compared to the consensus estimate of $5.04 billion. QUALCOMM had a net margin of 16.36% and a return on equity of 69.92%. The company’s revenue was up 6.6% on a year-over-year basis. During the same period in the previous year, the business earned $0.77 EPS. On average, equities research analysts predict that QUALCOMM, Inc. will post 3.08 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 25th. Investors of record on Thursday, June 4th will be given a dividend of $0.65 per share. This represents a $2.60 annualized dividend and a yield of 3.34%. This is a positive change from QUALCOMM’s previous quarterly dividend of $0.62. The ex-dividend date is Wednesday, June 3rd. QUALCOMM’s payout ratio is presently 87.32%.
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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