Hayden Royal LLC purchased a new position in QUALCOMM, Inc. (NASDAQ:QCOM) during the first quarter, HoldingsChannel.com reports. The fund purchased 4,899 shares of the wireless technology company’s stock, valued at approximately $331,000.
Other institutional investors and hedge funds also recently modified their holdings of the company. FSA Wealth Management LLC bought a new position in QUALCOMM in the 4th quarter valued at approximately $27,000. Harwood Advisory Group LLC purchased a new stake in QUALCOMM during the 1st quarter valued at $32,000. RMR Wealth Builders purchased a new stake in shares of QUALCOMM in the 4th quarter worth $34,000. Sound Income Strategies LLC increased its stake in shares of QUALCOMM by 118.7% in the 1st quarter. Sound Income Strategies LLC now owns 503 shares of the wireless technology company’s stock worth $34,000 after purchasing an additional 273 shares in the last quarter. Finally, Advisory Alpha LLC increased its stake in shares of QUALCOMM by 493.9% in the 1st quarter. Advisory Alpha LLC now owns 487 shares of the wireless technology company’s stock worth $36,000 after purchasing an additional 405 shares in the last quarter. 74.56% of the stock is currently owned by hedge funds and other institutional investors.
Several brokerages recently weighed in on QCOM. BidaskClub raised shares of QUALCOMM from a “hold” rating to a “buy” rating in a report on Friday, June 19th. Royal Bank of Canada lowered their price target on shares of QUALCOMM from $92.00 to $81.00 in a report on Tuesday, March 10th. Piper Sandler started coverage on shares of QUALCOMM in a report on Wednesday, March 4th. They issued a “neutral” rating and a $80.00 price target for the company. Bank of America increased their price target on shares of QUALCOMM from $100.00 to $115.00 and gave the company a “buy” rating in a report on Wednesday. Finally, ValuEngine raised shares of QUALCOMM from a “sell” rating to a “hold” rating in a research report on Tuesday, March 3rd. Four research analysts have rated the stock with a sell rating, seven have assigned a hold rating and sixteen have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $92.23.
QCOM traded down $0.62 on Friday, reaching $88.34. The stock had a trading volume of 165,571 shares, compared to its average volume of 10,652,863. QUALCOMM, Inc. has a 12-month low of $58.00 and a 12-month high of $96.17. The company has a current ratio of 1.57, a quick ratio of 1.39 and a debt-to-equity ratio of 4.42. The business’s 50-day moving average price is $83.10 and its two-hundred day moving average price is $81.82. The company has a market cap of $100.07 billion, a P/E ratio of 26.32, a price-to-earnings-growth ratio of 1.65 and a beta of 1.35.
QUALCOMM (NASDAQ:QCOM) last released its quarterly earnings data on Wednesday, April 29th. The wireless technology company reported $0.88 earnings per share for the quarter, beating analysts’ consensus estimates of $0.79 by $0.09. QUALCOMM had a net margin of 16.36% and a return on equity of 69.92%. The company had revenue of $5.21 billion during the quarter, compared to analysts’ expectations of $5.04 billion. During the same quarter in the previous year, the company earned $0.77 earnings per share. The firm’s revenue for the quarter was up 6.6% on a year-over-year basis. As a group, analysts predict that QUALCOMM, Inc. will post 3.08 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Thursday, June 25th. Stockholders of record on Thursday, June 4th were paid a dividend of $0.65 per share. The ex-dividend date of this dividend was Wednesday, June 3rd. This represents a $2.60 dividend on an annualized basis and a dividend yield of 2.94%. This is a boost from QUALCOMM’s previous quarterly dividend of $0.62. QUALCOMM’s payout ratio is currently 91.55%.
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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