Oppenheimer & Co. Inc. decreased its position in QUALCOMM, Inc. (NASDAQ:QCOM) by 24.4% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 185,387 shares of the wireless technology company’s stock after selling 59,875 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in QUALCOMM were worth $11,868,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Westwood Holdings Group Inc. bought a new stake in shares of QUALCOMM in the 2nd quarter valued at approximately $114,000. Cerebellum GP LLC bought a new stake in shares of QUALCOMM in the 4th quarter valued at approximately $126,000. Krilogy Financial LLC grew its stake in shares of 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 buying an additional 745 shares in the last quarter. Capstone Investment Advisors Netherlands B.V. bought a new stake in shares of QUALCOMM in the 2nd quarter valued at approximately $141,000. Finally, Cable Hill Partners LLC grew its stake in shares of QUALCOMM by 1,316.7% in the 3rd quarter. Cable Hill Partners LLC now owns 3,145 shares of the wireless technology company’s stock valued at $163,000 after buying an additional 2,923 shares in the last quarter. 77.96% of the stock is owned by institutional investors and hedge funds.
Shares of QUALCOMM, Inc. (NASDAQ QCOM) opened at $58.37 on Tuesday. QUALCOMM, Inc. has a 12-month low of $48.92 and a 12-month 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. The firm has a market capitalization of $89,739.61, a P/E ratio of 16.98, a PEG ratio of 1.89 and a beta of 1.35.
QUALCOMM (NASDAQ:QCOM) last issued its earnings results on Wednesday, January 31st. The wireless technology company reported $0.98 EPS for the quarter, beating analysts’ consensus estimates of $0.91 by $0.07. The business had revenue of $6.10 billion during the quarter, compared to analyst estimates of $5.93 billion. QUALCOMM had a positive return on equity of 18.10% and a negative net margin of 18.65%. QUALCOMM’s revenue was up 1.7% on a year-over-year basis. During the same period in the prior year, the company posted $1.19 earnings per share. sell-side analysts anticipate that QUALCOMM, Inc. will post 2.8 EPS for the current fiscal year.
The company also recently announced 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 dividend on an annualized basis and a dividend yield of 3.91%. QUALCOMM’s payout ratio is -80.28%.
A number of equities research analysts have issued reports on the company. Morgan Stanley assumed coverage on QUALCOMM in a research report on Monday. They set an “underweight” rating and a $55.00 target price for the company. Wells Fargo assumed coverage on QUALCOMM in a research report on Friday. They set a “market perform” rating for the company. Deutsche Bank assumed coverage on QUALCOMM in a research report on Thursday, March 15th. They set a “hold” rating and a $60.00 target price for the company. BidaskClub cut QUALCOMM from a “hold” rating to a “sell” rating in a research report on Wednesday, February 21st. Finally, Zacks Investment Research cut QUALCOMM from a “hold” rating to a “sell” rating in a research report on Tuesday, February 6th. Three investment analysts have rated the stock with a sell rating, fourteen have issued a hold rating and fourteen have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $68.05.
In related news, EVP James H. Thompson sold 50,126 shares of the company’s stock in a transaction on Friday, March 9th. The stock was sold at an average price of $62.66, for a total value of $3,140,895.16. Following the completion of the transaction, the executive vice president now directly owns 136,482 shares in the company, valued at $8,551,962.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Alexander H. Rogers sold 1,180 shares of the company’s stock in a transaction on Tuesday, February 27th. The shares were sold at an average price of $66.94, for a total value of $78,989.20. The disclosure for this sale can be found here. Insiders sold 95,938 shares of company stock valued at $6,137,671 over the last 90 days. 0.24% of the stock is currently owned by corporate 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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