M&R Capital Management Inc. cut its stake in shares of QUALCOMM, Inc. (NASDAQ:QCOM) by 1.8% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 80,995 shares of the wireless technology company’s stock after selling 1,488 shares during the period. M&R Capital Management Inc.’s holdings in QUALCOMM were worth $4,199,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds also recently modified their holdings of the business. FCA Corp TX raised its position in QUALCOMM by 1.0% during the second quarter. FCA Corp TX now owns 4,866 shares of the wireless technology company’s stock valued at $269,000 after purchasing an additional 49 shares during the period. Meridian Investment Counsel Inc. grew its stake in shares of QUALCOMM by 0.3% during the second quarter. Meridian Investment Counsel Inc. now owns 18,293 shares of the wireless technology company’s stock valued at $1,010,000 after buying an additional 50 shares during the last quarter. Valueworks LLC grew its stake in shares of QUALCOMM by 0.3% during the second quarter. Valueworks LLC now owns 14,976 shares of the wireless technology company’s stock valued at $827,000 after buying an additional 50 shares during the last quarter. Birch Hill Investment Advisors LLC grew its stake in shares of QUALCOMM by 1.4% during the second quarter. Birch Hill Investment Advisors LLC now owns 3,651 shares of the wireless technology company’s stock valued at $202,000 after buying an additional 51 shares during the last quarter. Finally, Connecticut Wealth Management LLC grew its stake in shares of QUALCOMM by 0.5% during the second quarter. Connecticut Wealth Management LLC now owns 11,933 shares of the wireless technology company’s stock valued at $664,000 after buying an additional 64 shares during the last quarter. Institutional investors and hedge funds own 76.34% of the company’s stock.
QUALCOMM, Inc. (NASDAQ QCOM) opened at $68.25 on Thursday. QUALCOMM, Inc. has a 52 week low of $48.92 and a 52 week high of $69.28. The stock has a market capitalization of $100,610.00, a P/E ratio of 41.36, a P/E/G ratio of 1.91 and a beta of 1.39. The company has a quick ratio of 3.81, a current ratio of 4.00 and a debt-to-equity ratio of 0.63.
QUALCOMM (NASDAQ:QCOM) last announced its quarterly earnings data on Wednesday, January 31st. The wireless technology company reported $0.98 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.91 by $0.07. QUALCOMM had a return on equity of 18.08% and a net margin of 11.06%. The company had revenue of $6.10 billion for the quarter, compared to analysts’ expectations of $5.93 billion. During the same quarter in the prior year, the firm earned $1.19 earnings per share. QUALCOMM’s revenue was up 1.7% compared to the same quarter last year. analysts expect that QUALCOMM, Inc. will post 3.07 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 21st. Investors of record on Wednesday, February 28th will be paid a $0.57 dividend. The ex-dividend date is Tuesday, February 27th. This represents a $2.28 annualized dividend and a yield of 3.34%. QUALCOMM’s dividend payout ratio (DPR) is currently 138.18%.
A number of research analysts have recently commented on the company. Vetr cut QUALCOMM from a “strong-buy” rating to a “buy” rating and set a $76.42 target price on the stock. in a research note on Thursday. Royal Bank of Canada upped their target price on QUALCOMM from $77.00 to $80.00 and gave the company an “outperform” rating in a research note on Tuesday. Canaccord Genuity upped their target price on QUALCOMM from $83.00 to $86.00 and gave the company a “buy” rating in a research note on Wednesday, January 17th. Macquarie upped their target price on QUALCOMM from $55.00 to $70.00 and gave the company a “neutral” rating in a research note on Wednesday, January 17th. Finally, Mizuho reaffirmed a “buy” rating and set a $75.00 target price (up previously from $65.00) on shares of QUALCOMM in a research note on Wednesday, January 17th. Eighteen analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $67.56.
In other QUALCOMM news, EVP Michelle M. Sterling sold 7,840 shares of the stock in a transaction on Tuesday, November 21st. The stock was sold at an average price of $66.56, for a total transaction of $521,830.40. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Matthew S. Grob sold 20,000 shares of the stock in a transaction on Monday, November 6th. The shares were sold at an average price of $60.44, for a total value of $1,208,800.00. The disclosure for this sale can be found here. In the last three months, insiders sold 73,346 shares of company stock worth $4,708,304. 0.24% of the stock is owned by insiders.
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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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