Acadian Asset Management LLC decreased its position in shares of QUALCOMM, Inc. (NASDAQ:QCOM) by 2.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 12,596 shares of the wireless technology company’s stock after selling 346 shares during the period. Acadian Asset Management LLC’s holdings in QUALCOMM were worth $717,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Boenning & Scattergood Inc. boosted its holdings in shares of QUALCOMM by 3.1% in the 4th quarter. Boenning & Scattergood Inc. now owns 6,537 shares of the wireless technology company’s stock worth $372,000 after acquiring an additional 197 shares in the last quarter. Evanson Asset Management LLC raised its position in QUALCOMM by 4.9% in the 4th quarter. Evanson Asset Management LLC now owns 4,231 shares of the wireless technology company’s stock worth $241,000 after purchasing an additional 199 shares during the last quarter. Highland Capital Management LLC raised its position in QUALCOMM by 0.4% in the 4th quarter. Highland Capital Management LLC now owns 53,274 shares of the wireless technology company’s stock worth $3,032,000 after purchasing an additional 200 shares during the last quarter. Baystate Wealth Management LLC raised its position in QUALCOMM by 13.8% in the 4th quarter. Baystate Wealth Management LLC now owns 1,811 shares of the wireless technology company’s stock worth $100,000 after purchasing an additional 219 shares during the last quarter. Finally, Diligent Investors LLC raised its position in QUALCOMM by 0.8% in the 4th quarter. Diligent Investors LLC now owns 29,583 shares of the wireless technology company’s stock worth $1,684,000 after purchasing an additional 222 shares during the last quarter. Institutional investors own 87.69% of the company’s stock.
In other news, EVP James H. Thompson sold 40,000 shares of the firm’s stock in a transaction that occurred on Monday, February 11th. The shares were sold at an average price of $50.75, for a total transaction of $2,030,000.00. Following the transaction, the executive vice president now directly owns 62,301 shares of the company’s stock, valued at $3,161,775.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Donald J. Rosenberg sold 9,048 shares of the firm’s stock in a transaction that occurred on Thursday, December 13th. The stock was sold at an average price of $58.01, for a total transaction of $524,874.48. The disclosure for this sale can be found here. 0.11% of the stock is owned by corporate insiders.Several research analysts recently weighed in on QCOM shares. Barclays restated a “buy” rating and issued a $70.00 price objective on shares of QUALCOMM in a research report on Friday, January 18th. Raymond James set a $65.00 price objective on shares of QUALCOMM and gave the stock a “buy” rating in a research report on Saturday, February 2nd. BMO Capital Markets reiterated a “market perform” rating on shares of QUALCOMM in a research report on Thursday, January 31st. BidaskClub upgraded shares of QUALCOMM from a “strong sell” rating to a “sell” rating in a research report on Friday, March 1st. Finally, Bank of America reiterated a “neutral” rating and set a $60.00 target price (down previously from $67.00) on shares of QUALCOMM in a research report on Thursday, January 31st. Thirteen research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. QUALCOMM currently has a consensus rating of “Hold” and a consensus target price of $66.00.
Shares of NASDAQ:QCOM opened at $54.84 on Wednesday. QUALCOMM, Inc. has a 52-week low of $48.56 and a 52-week high of $76.50. The stock has a market capitalization of $64.79 billion, a P/E 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 current ratio of 1.54 and a quick ratio of 1.38.
QUALCOMM (NASDAQ:QCOM) last issued its earnings results on Wednesday, January 30th. The wireless technology company reported $1.20 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.09 by $0.11. QUALCOMM had a net margin of 10.03% and a return on equity of 36.66%. The business had revenue of $4.80 billion during the quarter, compared to the consensus estimate of $4.89 billion. During the same period last year, the business posted $0.98 EPS. QUALCOMM’s revenue was down 21.3% on a year-over-year basis. On average, sell-side analysts expect that QUALCOMM, Inc. will post 3.21 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, March 28th. Shareholders of record on Thursday, March 7th will be issued a $0.62 dividend. The ex-dividend date of this dividend is Wednesday, March 6th. This represents a $2.48 annualized dividend and a yield of 4.52%. QUALCOMM’s dividend payout ratio is currently 77.74%.
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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.
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