First Allied Advisory Services Inc. reduced its position in QUALCOMM, Inc. (NASDAQ:QCOM) by 0.2% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 90,491 shares of the wireless technology company’s stock after selling 187 shares during the period. First Allied Advisory Services Inc.’s holdings in QUALCOMM were worth $5,900,000 as of its most recent filing with the SEC.
A number of other institutional investors also recently added to or reduced their stakes in QCOM. Pure Financial Advisors Inc. boosted its position in QUALCOMM by 13.3% in the third quarter. Pure Financial Advisors Inc. now owns 18,151 shares of the wireless technology company’s stock valued at $1,243,000 after buying an additional 2,127 shares during the period. R.H. Dinel Investment Counsel Inc. boosted its position in QUALCOMM by 21.7% in the third quarter. R.H. Dinel Investment Counsel Inc. now owns 39,750 shares of the wireless technology company’s stock valued at $2,723,000 after buying an additional 7,075 shares during the period. Bremer Trust National Association acquired a new position in QUALCOMM during the third quarter valued at approximately $474,000. Woodstock Corp boosted its position in QUALCOMM by 1.0% in the third quarter. Woodstock Corp now owns 102,974 shares of the wireless technology company’s stock valued at $7,054,000 after buying an additional 1,045 shares during the period. Finally, First American Bank boosted its position in QUALCOMM by 7.3% in the third quarter. First American Bank now owns 73,585 shares of the wireless technology company’s stock valued at $5,040,000 after buying an additional 5,015 shares during the period. Hedge funds and other institutional investors own 79.28% of the company’s stock.
Shares of QUALCOMM, Inc. (NASDAQ:QCOM) opened at 57.81 on Tuesday. QUALCOMM, Inc. has a 12 month low of $49.67 and a 12 month high of $71.62. The firm has a 50-day moving average price of $55.89 and a 200 day moving average price of $63.12. The firm has a market capitalization of $85.39 billion, a price-to-earnings ratio of 17.63 and a beta of 1.31.
QUALCOMM (NASDAQ:QCOM) last issued its quarterly earnings data on Wednesday, January 25th. The wireless technology company reported $1.19 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.18 by $0.01. QUALCOMM had a return on equity of 20.25% and a net margin of 20.56%. The business had revenue of $5.99 billion for the quarter, compared to the consensus estimate of $6.12 billion. During the same period last year, the business earned $0.97 EPS. The firm’s revenue was up 3.9% compared to the same quarter last year. On average, analysts anticipate that QUALCOMM, Inc. will post $4.66 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 22nd. Investors of record on Wednesday, March 1st will be paid a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a dividend yield of 3.67%. The ex-dividend date is Monday, February 27th. QUALCOMM’s payout ratio is 64.63%.
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Several equities analysts have recently commented on QCOM shares. Vetr cut QUALCOMM from a “strong-buy” rating to a “buy” rating and set a $76.04 target price for the company. in a research note on Tuesday, November 22nd. JPMorgan Chase & Co. cut QUALCOMM from an “overweight” rating to a “neutral” rating and increased their target price for the company from $69.34 to $70.00 in a research note on Wednesday, December 14th. They noted that the move was a valuation call. Susquehanna Bancshares Inc started coverage on QUALCOMM in a research note on Tuesday, December 20th. They set a “positive” rating and a $80.00 target price for the company. Citigroup Inc started coverage on QUALCOMM in a research note on Wednesday, December 21st. They set a “neutral” rating and a $70.00 target price for the company. Finally, Brean Capital reiterated a “hold” rating on shares of QUALCOMM in a research note on Wednesday, December 21st. One research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $66.98.
In other QUALCOMM news, Director Anthony J. Vinciquerra purchased 1,000 shares of the company’s stock in a transaction on Monday, January 30th. The shares were bought at an average cost of $53.99 per share, with a total value of $53,990.00. Following the transaction, the director now directly owns 1,281 shares in the company, valued at approximately $69,161.19. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Cristiano R. Amon purchased 18,815 shares of the company’s stock in a transaction on Friday, February 3rd. The stock was acquired at an average cost of $53.13 per share, for a total transaction of $999,640.95. The disclosure for this purchase can be found here. Insiders sold a total of 22,614 shares of company stock worth $1,484,029 over the last three months. 0.24% of the stock is owned by company insiders.
QUALCOMM Incorporated is engaged in the development and commercialization of a digital communication technology called code division multiple access (CDMA). The Company is engaged in the development and commercialization of the orthogonal frequency division multiple access (OFDMA) family of technologies, including long-term evolution (LTE), which is an Orthogonal Frequency Division Multiplexing (OFDM)-based standard that uses OFDMA and single-carrier Frequency Division Multiple Access (FDMA), for cellular wireless communication applications.
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