Grimes & Company Inc. lessened its stake in shares of QUALCOMM, Inc. (NASDAQ:QCOM) by 1.2% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 132,239 shares of the wireless technology company’s stock after selling 1,589 shares during the quarter. Grimes & Company Inc.’s holdings in QUALCOMM were worth $7,526,000 at the end of the most recent reporting period.
A number of other large investors also recently made changes to their positions in the business. Lavaca Capital LLC acquired a new stake in shares of QUALCOMM during the fourth quarter worth $25,000. Csenge Advisory Group acquired a new stake in shares of QUALCOMM during the third quarter worth $28,000. Essex Savings Bank acquired a new stake in shares of QUALCOMM during the fourth quarter worth $48,000. Gradient Investments LLC boosted its holdings in shares of QUALCOMM by 30.3% during the fourth quarter. Gradient Investments LLC now owns 1,259 shares of the wireless technology company’s stock worth $72,000 after purchasing an additional 293 shares during the last quarter. Finally, Legacy Financial Advisors Inc. boosted its holdings in shares of QUALCOMM by 102.3% during the fourth quarter. Legacy Financial Advisors Inc. now owns 1,299 shares of the wireless technology company’s stock worth $74,000 after purchasing an additional 657 shares during the last quarter. Hedge funds and other institutional investors own 92.15% of the company’s stock.
QCOM has been the topic of several research reports. Barclays reaffirmed a “buy” rating and issued a $70.00 target price on shares of QUALCOMM in a research report on Friday, January 18th. Raymond James set a $65.00 target price on QUALCOMM and gave the stock a “buy” rating in a research report on Saturday, February 2nd. UBS Group increased their target price on QUALCOMM from $62.00 to $67.00 and gave the stock a “neutral” rating in a research report on Monday, November 5th. Bank of America cut their target price on QUALCOMM from $70.00 to $67.00 and set a “neutral” rating on the stock in a research report on Thursday, November 8th. Finally, BidaskClub lowered QUALCOMM from a “hold” rating to a “sell” rating in a research report on Tuesday, October 16th. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating and twelve have assigned a buy rating to the stock. QUALCOMM presently has a consensus rating of “Hold” and a consensus price target of $66.25.
NASDAQ:QCOM opened at $50.83 on Tuesday. The stock has a market capitalization of $60.87 billion, a P/E ratio of 15.93, a PEG ratio of 1.58 and a beta of 1.17. QUALCOMM, Inc. has a one year low of $48.56 and a one year high of $76.50. 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 posted its quarterly earnings results on Wednesday, January 30th. The wireless technology company reported $1.20 EPS for the quarter, topping the Zacks’ consensus estimate of $1.09 by $0.11. The business had revenue of $4.80 billion during the quarter, compared to the consensus estimate of $4.89 billion. QUALCOMM had a return on equity of 36.66% and a net margin of 10.03%. The company’s revenue for the quarter was down 21.3% compared to the same quarter last year. During the same period last year, the firm earned $0.98 earnings per share. On average, analysts predict that QUALCOMM, Inc. will post 3.23 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, March 28th. Shareholders of record on Thursday, March 7th will be paid a $0.62 dividend. The ex-dividend date of this dividend is Wednesday, March 6th. This represents a $2.48 dividend on an annualized basis and a yield of 4.88%. QUALCOMM’s payout ratio is currently 77.74%.
In other QUALCOMM news, President Cristiano R. Amon sold 18,323 shares of QUALCOMM stock in a transaction that occurred on Monday, December 3rd. The stock was sold at an average price of $60.23, for a total value of $1,103,594.29. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Donald J. Rosenberg sold 6,297 shares of QUALCOMM stock in a transaction that occurred on Friday, November 23rd. The shares were sold at an average price of $55.22, for a total value of $347,720.34. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 33,668 shares of company stock valued at $1,976,189. 0.11% of the stock is currently owned by insiders.
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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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