Ladenburg Thalmann Financial Services Inc. lessened its holdings in QUALCOMM, Inc. (NASDAQ:QCOM) by 19.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 117,820 shares of the wireless technology company’s stock after selling 28,448 shares during the quarter. Ladenburg Thalmann Financial Services Inc.’s holdings in QUALCOMM were worth $7,544,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also modified their holdings of the company. Burke & Herbert Bank & Trust Co. boosted its stake in QUALCOMM by 7.2% during the 4th quarter. Burke & Herbert Bank & Trust Co. now owns 11,458 shares of the wireless technology company’s stock worth $734,000 after acquiring an additional 774 shares during the last quarter. Dorsey & Whitney Trust CO LLC boosted its stake in QUALCOMM by 1.8% during the 4th quarter. Dorsey & Whitney Trust CO LLC now owns 47,706 shares of the wireless technology company’s stock worth $3,055,000 after acquiring an additional 840 shares during the last quarter. IFM Investors Pty Ltd boosted its stake in QUALCOMM by 2.1% during the 3rd quarter. IFM Investors Pty Ltd now owns 41,146 shares of the wireless technology company’s stock worth $2,133,000 after acquiring an additional 843 shares during the last quarter. Garland Capital Management Inc. boosted its stake in QUALCOMM by 1.1% during the 3rd quarter. Garland Capital Management Inc. now owns 84,200 shares of the wireless technology company’s stock worth $4,365,000 after acquiring an additional 875 shares during the last quarter. Finally, Marco Investment Management LLC boosted its stake in QUALCOMM by 0.4% during the 3rd quarter. Marco Investment Management LLC now owns 217,546 shares of the wireless technology company’s stock worth $11,278,000 after acquiring an additional 888 shares during the last quarter. 78.00% of the stock is currently owned by institutional investors.
Shares of QCOM opened at $55.23 on Thursday. The company has a debt-to-equity ratio of 0.81, a quick ratio of 3.25 and a current ratio of 3.41. QUALCOMM, Inc. has a twelve month low of $48.92 and a twelve month high of $69.28. The company has a market capitalization of $81,079.48, a price-to-earnings ratio of 14.61, a P/E/G ratio of 1.70 and a beta of 1.44.
QUALCOMM (NASDAQ:QCOM) last posted its quarterly earnings data on Wednesday, January 31st. The wireless technology company reported $0.98 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate 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 the consensus estimate of $5.93 billion. During the same period last year, the company earned $1.19 earnings per share. The firm’s revenue was up 1.7% compared to the same quarter last year. analysts anticipate that QUALCOMM, Inc. will post 2.8 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 20th. Stockholders of record on Wednesday, May 30th will be issued a $0.62 dividend. The ex-dividend date of this dividend is Tuesday, May 29th. This is an increase from QUALCOMM’s previous quarterly dividend of $0.57. This represents a $2.48 dividend on an annualized basis and a dividend yield of 4.49%. QUALCOMM’s dividend payout ratio (DPR) is 60.32%.
In other news, EVP Alexander H. Rogers sold 1,180 shares of QUALCOMM stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $66.94, for a total value of $78,989.20. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP James H. Thompson sold 50,126 shares of QUALCOMM stock in a transaction that occurred on Friday, March 9th. The shares were sold at an average price of $62.66, for a total transaction of $3,140,895.16. Following the completion of the sale, the executive vice president now owns 136,482 shares in the company, valued at $8,551,962.12. The disclosure for this sale can be found here. Insiders sold 52,682 shares of company stock worth $3,306,030 over the last quarter. 0.24% of the stock is owned by corporate insiders.
Several research firms recently weighed in on QCOM. Mizuho reissued a “buy” rating and set a $64.00 price objective (down previously from $75.00) on shares of QUALCOMM in a research note on Wednesday. Citigroup began coverage on shares of QUALCOMM in a research note on Thursday, April 12th. They set a “neutral” rating and a $58.00 price objective on the stock. Vetr raised shares of QUALCOMM from a “hold” rating to a “buy” rating and set a $74.63 price objective on the stock in a research note on Friday, January 26th. Northland Securities reissued a “buy” rating and set a $75.00 price objective on shares of QUALCOMM in a research note on Thursday, February 1st. Finally, ValuEngine raised shares of QUALCOMM from a “hold” rating to a “buy” rating in a research note on Friday, February 2nd. Three research analysts have rated the stock with a sell rating, fourteen have given a hold rating and thirteen have assigned a buy rating to the stock. QUALCOMM has an average rating of “Hold” and a consensus price target of $67.38.
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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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