Davis R M Inc. lowered its position in QUALCOMM Incorporated (NASDAQ:QCOM) by 5.3% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 334,149 shares of the wireless technology company’s stock after selling 18,806 shares during the period. Davis R M Inc.’s holdings in QUALCOMM were worth $19,160,000 at the end of the most recent quarter.
A number of other hedge funds have also added to or reduced their stakes in QCOM. Glenview Trust Co purchased a new position in shares of QUALCOMM during the fourth quarter valued at about $763,000. Millie Capital Management LLC purchased a new position in shares of QUALCOMM during the fourth quarter valued at about $214,000. Federated Investors Inc. PA raised its position in shares of QUALCOMM by 117.6% in the fourth quarter. Federated Investors Inc. PA now owns 402,062 shares of the wireless technology company’s stock valued at $26,214,000 after buying an additional 217,276 shares during the period. FMR LLC raised its position in shares of QUALCOMM by 3.7% in the fourth quarter. FMR LLC now owns 68,251,589 shares of the wireless technology company’s stock valued at $4,450,003,000 after buying an additional 2,439,365 shares during the period. Finally, Capital Analysts LLC raised its position in shares of QUALCOMM by 2.8% in the fourth quarter. Capital Analysts LLC now owns 5,208 shares of the wireless technology company’s stock valued at $340,000 after buying an additional 140 shares during the period. 78.00% of the stock is owned by hedge funds and other institutional investors.
QUALCOMM Incorporated (NASDAQ:QCOM) opened at 55.35 on Monday. The firm’s 50 day moving average is $57.09 and its 200-day moving average is $57.97. QUALCOMM Incorporated has a 12 month low of $51.05 and a 12 month high of $71.62. The firm has a market cap of $81.78 billion, a price-to-earnings ratio of 18.44 and a beta of 1.30.
QUALCOMM (NASDAQ:QCOM) last announced its quarterly earnings data on Wednesday, April 19th. The wireless technology company reported $1.34 EPS for the quarter, topping the consensus estimate of $1.05 by $0.29. The business had revenue of $5.99 billion for the quarter, compared to analyst estimates of $5.86 billion. QUALCOMM had a net margin of 19.25% and a return on equity of 21.32%. The company’s revenue for the quarter was up 8.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.04 earnings per share. On average, equities analysts forecast that QUALCOMM Incorporated will post $4.25 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 21st. Shareholders of record on Wednesday, May 31st were given a $0.57 dividend. This is a positive change from QUALCOMM’s previous quarterly dividend of $0.53. The ex-dividend date was Friday, May 26th. This represents a $2.28 annualized dividend and a yield of 4.12%. QUALCOMM’s payout ratio is currently 76.00%.
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Several equities analysts have recently issued reports on the stock. Vetr lowered shares of QUALCOMM from a “buy” rating to a “hold” rating and set a $60.62 price target for the company. in a report on Monday, May 22nd. Stifel Nicolaus boosted their price target on shares of QUALCOMM from $56.00 to $65.00 and gave the company a “buy” rating in a report on Friday, May 26th. BMO Capital Markets reissued a “market perform” rating on shares of QUALCOMM in a report on Sunday, May 21st. J P Morgan Chase & Co raised shares of QUALCOMM from a “neutral” rating to an “overweight” rating and boosted their price target for the company from $50.00 to $68.00 in a report on Monday, May 22nd. Finally, Zacks Investment Research lowered shares of QUALCOMM from a “hold” rating to a “strong sell” rating in a report on Tuesday, June 20th. Three investment analysts have rated the stock with a sell rating, seventeen have assigned a hold rating, twelve have given a buy rating and two have assigned a strong buy rating to the stock. QUALCOMM has an average rating of “Hold” and an average target price of $64.89.
In other news, EVP James H. Thompson sold 25,000 shares of QUALCOMM stock in a transaction dated Friday, April 21st. The shares were sold at an average price of $52.53, for a total value of $1,313,250.00. Following the completion of the transaction, the executive vice president now owns 76,246 shares in the company, valued at $4,005,202.38. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Alexander H. Rogers sold 470 shares of QUALCOMM stock in a transaction dated Tuesday, May 30th. The stock was sold at an average price of $57.28, for a total transaction of $26,921.60. Following the completion of the transaction, the executive vice president now owns 3,049 shares of the company’s stock, valued at approximately $174,646.72. The disclosure for this sale can be found here. In the last ninety days, insiders sold 64,369 shares of company stock worth $3,560,668. Insiders own 0.17% of the company’s stock.
QUALCOMM Company Profile
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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