Norinchukin Bank The boosted its position in shares of QUALCOMM, Inc. (NASDAQ:QCOM) by 11.2% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 215,095 shares of the wireless technology company’s stock after purchasing an additional 21,714 shares during the period. Norinchukin Bank The’s holdings in QUALCOMM were worth $11,918,000 at the end of the most recent reporting period.
Other hedge funds have also recently added to or reduced their stakes in the company. Garde Capital Inc. increased its holdings in QUALCOMM by 77.8% during the 3rd quarter. Garde Capital Inc. now owns 17,252 shares of the wireless technology company’s stock worth $894,000 after purchasing an additional 7,547 shares in the last quarter. Global Financial Private Capital LLC grew its holdings in shares of QUALCOMM by 8.1% in the 4th quarter. Global Financial Private Capital LLC now owns 39,953 shares of the wireless technology company’s stock valued at $2,558,000 after acquiring an additional 3,000 shares in the last quarter. Middleton & Co Inc MA grew its holdings in shares of QUALCOMM by 4.2% in the 4th quarter. Middleton & Co Inc MA now owns 92,050 shares of the wireless technology company’s stock valued at $5,893,000 after acquiring an additional 3,750 shares in the last quarter. First Heartland Consultants Inc. grew its holdings in shares of QUALCOMM by 29.2% in the 3rd quarter. First Heartland Consultants Inc. now owns 9,745 shares of the wireless technology company’s stock valued at $505,000 after acquiring an additional 2,203 shares in the last quarter. Finally, Sentry Investment Management LLC grew its holdings in shares of QUALCOMM by 2.0% in the 4th quarter. Sentry Investment Management LLC now owns 118,977 shares of the wireless technology company’s stock valued at $7,617,000 after acquiring an additional 2,347 shares in the last quarter. Hedge funds and other institutional investors own 76.92% of the company’s stock.
Shares of QCOM stock opened at $59.96 on Friday. The company has a debt-to-equity ratio of 0.81, a current ratio of 3.60 and a quick ratio of 3.46. The company has a market cap of $88.91 billion, a price-to-earnings ratio of 19.72, a P/E/G ratio of 1.93 and a beta of 1.47. QUALCOMM, Inc. has a 12-month low of $48.56 and a 12-month high of $69.28.
QUALCOMM (NASDAQ:QCOM) last issued its quarterly earnings data on Wednesday, April 25th. The wireless technology company reported $0.80 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.70 by $0.10. The firm had revenue of $5.20 billion during the quarter, compared to the consensus estimate of $5.21 billion. QUALCOMM had a negative net margin of 20.16% and a positive return on equity of 16.48%. The business’s revenue for the quarter was down 13.3% compared to the same quarter last year. During the same period last year, the business posted $1.34 earnings per share. sell-side analysts anticipate that QUALCOMM, Inc. will post 2.71 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 20th. Shareholders of record on Wednesday, May 30th will be given a dividend of $0.62 per share. 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 annualized dividend and a yield of 4.14%. QUALCOMM’s dividend payout ratio (DPR) is 60.32%.
QUALCOMM announced that its Board of Directors has initiated a stock buyback program on Wednesday, May 9th that authorizes the company to buyback $10.00 billion in shares. This buyback authorization authorizes the wireless technology company to repurchase up to 12.7% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s leadership believes its stock is undervalued.
QCOM has been the subject of several analyst reports. Royal Bank of Canada raised their price objective on QUALCOMM from $77.00 to $80.00 and gave the company an “outperform” rating in a report on Tuesday, January 30th. Vetr cut QUALCOMM from a “strong-buy” rating to a “buy” rating and set a $76.42 price objective for the company. in a report on Thursday, February 1st. Northland Securities restated a “buy” rating and issued a $75.00 price objective on shares of QUALCOMM in a report on Thursday, February 1st. KeyCorp raised their price objective on QUALCOMM from $68.00 to $73.00 and gave the company a “buy” rating in a report on Thursday, February 1st. Finally, ValuEngine upgraded QUALCOMM from a “hold” rating to a “buy” rating in a report on Friday, February 2nd. Two research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and eleven have issued a buy rating to the stock. QUALCOMM presently has an average rating of “Hold” and an average price target of $63.67.
In other QUALCOMM news, EVP James H. Thompson sold 50,126 shares of the firm’s 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 directly owns 136,482 shares in the company, valued at $8,551,962.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Alexander H. Rogers sold 662 shares of the firm’s stock in a transaction that occurred on Friday, April 27th. The stock was sold at an average price of $50.75, for a total transaction of $33,596.50. Following the sale, the executive vice president now owns 8,132 shares of the company’s stock, valued at $412,699. The disclosure for this sale can be found here. Insiders have sold 80,383 shares of company stock valued at $4,762,616 over the last 90 days. Company insiders own 0.17% of the company’s stock.
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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