Patten & Patten Inc. TN cut its holdings in QUALCOMM, Inc. (NASDAQ:QCOM) by 3.1% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 49,915 shares of the wireless technology company’s stock after selling 1,597 shares during the period. Patten & Patten Inc. TN’s holdings in QUALCOMM were worth $3,196,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Westwood Holdings Group Inc. bought a new position in QUALCOMM in the 2nd quarter valued at $114,000. Krilogy Financial LLC boosted its holdings in QUALCOMM by 47.0% in the 2nd quarter. Krilogy Financial LLC now owns 2,331 shares of the wireless technology company’s stock valued at $129,000 after purchasing an additional 745 shares during the period. Capstone Investment Advisors Netherlands B.V. bought a new position in QUALCOMM in the 2nd quarter valued at $141,000. Jacobi Capital Management LLC boosted its holdings in QUALCOMM by 7.8% in the 2nd quarter. Jacobi Capital Management LLC now owns 2,767 shares of the wireless technology company’s stock valued at $154,000 after purchasing an additional 200 shares during the period. Finally, Penserra Capital Management LLC boosted its holdings in QUALCOMM by 40.7% in the 2nd quarter. Penserra Capital Management LLC now owns 2,912 shares of the wireless technology company’s stock valued at $160,000 after purchasing an additional 842 shares during the period. 75.67% of the stock is owned by institutional investors.
In other QUALCOMM news, EVP Alexander H. Rogers sold 919 shares of the business’s stock in a transaction dated Wednesday, December 27th. The shares were sold at an average price of $64.32, for a total value of $59,110.08. Following the transaction, the executive vice president now owns 11,116 shares in the company, valued at $714,981.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Matthew S. Grob sold 43,000 shares of the business’s stock in a transaction dated Tuesday, January 9th. The shares were sold at an average price of $65.35, for a total transaction of $2,810,050.00. Following the completion of the transaction, the executive vice president now owns 43,000 shares in the company, valued at approximately $2,810,050. The disclosure for this sale can be found here. Insiders sold 45,506 shares of company stock worth $2,977,673 in the last 90 days. Corporate insiders own 0.24% of the company’s stock.
QCOM has been the subject of several analyst reports. Mizuho reissued a “buy” rating on shares of QUALCOMM in a report on Friday, October 27th. Canaccord Genuity raised their price target on shares of QUALCOMM from $70.00 to $76.00 and gave the company a “buy” rating in a report on Thursday, November 2nd. UBS Group lowered their price objective on shares of QUALCOMM from $58.00 to $53.00 and set a “buy” rating on the stock in a research report on Monday, November 6th. Vetr upgraded shares of QUALCOMM from a “hold” rating to a “buy” rating and set a $69.52 price objective on the stock in a research report on Monday, November 13th. Finally, ValuEngine upgraded shares of QUALCOMM from a “hold” rating to a “buy” rating in a research report on Friday, December 1st. One equities research analyst has rated the stock with a sell rating, sixteen have issued a hold rating and fourteen have issued a buy rating to the company. QUALCOMM presently has a consensus rating of “Hold” and an average price target of $68.25.
QUALCOMM, Inc. (NASDAQ:QCOM) opened at $63.99 on Wednesday. The company has a market cap of $94,730.00, a price-to-earnings ratio of -26.12, a P/E/G ratio of 2.02 and a beta of 1.38. QUALCOMM, Inc. has a 52-week low of $48.92 and a 52-week high of $69.28. The company has a debt-to-equity ratio of 0.81, a current ratio of 3.41 and a quick ratio of 3.25.
QUALCOMM (NASDAQ:QCOM) last issued its earnings results on Wednesday, January 31st. The wireless technology company reported $0.98 EPS for the quarter, topping analysts’ consensus estimates of $0.91 by $0.07. QUALCOMM had a negative net margin of 18.65% and a positive return on equity of 18.10%. The company had revenue of $6.10 billion for the quarter, compared to analysts’ expectations of $5.93 billion. During the same quarter last year, the company earned $1.19 EPS. The firm’s revenue was up 1.7% compared to the same quarter last year. analysts forecast that QUALCOMM, Inc. will post 2.8 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 21st. Shareholders of record on Wednesday, February 28th will be given a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a dividend yield of 3.56%. The ex-dividend date is Tuesday, February 27th. QUALCOMM’s payout ratio is -93.06%.
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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