Point View Wealth Management Inc. increased its holdings in shares of QUALCOMM, Inc. (NASDAQ:QCOM) by 4.7% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 28,044 shares of the wireless technology company’s stock after purchasing an additional 1,263 shares during the quarter. Point View Wealth Management Inc.’s holdings in QUALCOMM were worth $1,596,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Boenning & Scattergood Inc. grew its position in QUALCOMM by 3.1% in the fourth quarter. Boenning & Scattergood Inc. now owns 6,537 shares of the wireless technology company’s stock valued at $372,000 after acquiring an additional 197 shares during the last quarter. Evanson Asset Management LLC grew its position in QUALCOMM by 4.9% in the fourth quarter. Evanson Asset Management LLC now owns 4,231 shares of the wireless technology company’s stock valued at $241,000 after acquiring an additional 199 shares during the last quarter. Highland Capital Management LLC grew its position in QUALCOMM by 0.4% in the fourth quarter. Highland Capital Management LLC now owns 53,274 shares of the wireless technology company’s stock valued at $3,032,000 after acquiring an additional 200 shares during the last quarter. Baystate Wealth Management LLC grew its position in QUALCOMM by 13.8% in the fourth quarter. Baystate Wealth Management LLC now owns 1,811 shares of the wireless technology company’s stock valued at $100,000 after acquiring an additional 219 shares during the last quarter. Finally, Diligent Investors LLC grew its position in QUALCOMM by 0.8% in the fourth quarter. Diligent Investors LLC now owns 29,583 shares of the wireless technology company’s stock valued at $1,684,000 after acquiring an additional 222 shares during the last quarter. 87.69% of the stock is owned by institutional investors.
Several research firms have recently weighed in on QCOM. Zacks Investment Research upgraded QUALCOMM from a “hold” rating to a “buy” rating and set a $58.00 price target on the stock in a report on Wednesday, February 13th. BidaskClub lowered QUALCOMM from a “sell” rating to a “strong sell” rating in a research note on Tuesday, January 29th. Raymond James set a $65.00 price objective on QUALCOMM and gave the stock a “buy” rating in a research note on Saturday, February 2nd. Barclays reaffirmed a “buy” rating and issued a $70.00 price objective on shares of QUALCOMM in a research note on Friday, January 18th. Finally, Morgan Stanley raised QUALCOMM from an “underweight” rating to an “equal weight” rating in a research note on Thursday, November 15th. Thirteen equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. QUALCOMM currently has a consensus rating of “Hold” and an average target price of $66.00.
In other QUALCOMM news, EVP James H. Thompson sold 40,000 shares of QUALCOMM stock in a transaction on Monday, February 11th. The stock was sold at an average price of $50.75, for a total transaction of $2,030,000.00. Following the completion of the transaction, the executive vice president now owns 62,301 shares in the company, valued at $3,161,775.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Donald J. Rosenberg sold 9,048 shares of QUALCOMM stock in a transaction on Thursday, December 13th. The shares were sold at an average price of $58.01, for a total value of $524,874.48. The disclosure for this sale can be found here. Company insiders own 0.11% of the company’s stock.
Shares of NASDAQ QCOM opened at $54.84 on Wednesday. The firm has a market cap of $64.79 billion, a PE ratio of 17.19, a PEG ratio of 1.67 and a beta of 1.17. The company has a debt-to-equity ratio of 4.25, a quick ratio of 1.38 and a current ratio of 1.54. QUALCOMM, Inc. has a one year low of $48.56 and a one year high of $76.50.
QUALCOMM (NASDAQ:QCOM) last issued its quarterly earnings data on Wednesday, January 30th. The wireless technology company reported $1.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.09 by $0.11. The business had revenue of $4.80 billion for the quarter, compared to analysts’ expectations of $4.89 billion. QUALCOMM had a return on equity of 36.66% and a net margin of 10.03%. The firm’s quarterly revenue was down 21.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.98 EPS. As a group, research analysts expect that QUALCOMM, Inc. will post 3.21 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, March 28th. Stockholders of record on Thursday, March 7th will be paid a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a dividend yield of 4.52%. The ex-dividend date of this dividend is Wednesday, March 6th. QUALCOMM’s payout ratio is presently 77.74%.
COPYRIGHT VIOLATION WARNING: This piece was published by Fairfield Current and is owned by of Fairfield Current. If you are viewing this piece on another website, it was illegally copied and reposted in violation of United States and international copyright & trademark laws. The original version of this piece can be accessed at https://www.fairfieldcurrent.com/news/2019/03/13/point-view-wealth-management-inc-raises-holdings-in-qualcomm-inc-qcom.html.
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.
Read More: How to Use the New Google Finance Tool
Receive News & Ratings for QUALCOMM Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for QUALCOMM and related companies with MarketBeat.com’s FREE daily email newsletter.