Sei Investments Co. lifted its stake in QUALCOMM, Inc. (NASDAQ:QCOM) by 31.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 699,655 shares of the wireless technology company’s stock after acquiring an additional 168,716 shares during the period. Sei Investments Co.’s holdings in QUALCOMM were worth $61,740,000 at the end of the most recent reporting period.
Several other institutional investors also recently bought and sold shares of the company. Synovus Financial Corp boosted its holdings in shares of QUALCOMM by 51.0% in the fourth quarter. Synovus Financial Corp now owns 18,382 shares of the wireless technology company’s stock worth $1,623,000 after acquiring an additional 6,211 shares during the period. State of Tennessee Treasury Department boosted its holdings in shares of QUALCOMM by 1.7% in the fourth quarter. State of Tennessee Treasury Department now owns 686,675 shares of the wireless technology company’s stock worth $60,585,000 after acquiring an additional 11,686 shares during the period. Illinois Municipal Retirement Fund bought a new position in shares of QUALCOMM in the fourth quarter worth $2,285,000. Secure Asset Management LLC bought a new position in shares of QUALCOMM in the fourth quarter worth $325,000. Finally, ICW Investment Advisors LLC bought a new position in shares of QUALCOMM in the fourth quarter worth $200,000. 77.48% of the stock is owned by hedge funds and other institutional investors.
In related news, EVP Alexander H. Rogers sold 735 shares of the business’s stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $95.37, for a total value of $70,096.95. Following the completion of the transaction, the executive vice president now directly owns 14,247 shares in the company, valued at approximately $1,358,736.39. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Akash J. Palkhiwala sold 5,237 shares of the business’s stock in a transaction that occurred on Tuesday, January 7th. The stock was sold at an average price of $89.00, for a total transaction of $466,093.00. Following the completion of the transaction, the chief financial officer now owns 19,018 shares of the company’s stock, valued at $1,692,602. The disclosure for this sale can be found here. Insiders sold 109,458 shares of company stock worth $9,349,683 over the last three months. 0.12% of the stock is owned by insiders.
A number of equities analysts have recently commented on QCOM shares. DZ Bank raised QUALCOMM from a “hold” rating to a “buy” rating and set a $104.00 price target for the company in a report on Wednesday, January 15th. Morgan Stanley lifted their price objective on QUALCOMM from $90.00 to $92.00 and gave the company an “equal weight” rating in a research note on Thursday, February 6th. Deutsche Bank lifted their price objective on QUALCOMM from $82.00 to $96.00 and gave the company a “hold” rating in a research note on Wednesday, November 20th. Susquehanna Bancshares lifted their price objective on QUALCOMM from $102.00 to $105.00 and gave the company a “positive” rating in a research note on Tuesday, January 28th. Finally, BidaskClub lowered QUALCOMM from a “hold” rating to a “sell” rating in a research note on Saturday, February 1st. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company. QUALCOMM currently has a consensus rating of “Buy” and an average price target of $94.38.
Shares of NASDAQ QCOM traded down $0.43 during trading hours on Friday, hitting $89.60. The company’s stock had a trading volume of 6,254,696 shares, compared to its average volume of 9,917,171. The company has a debt-to-equity ratio of 2.98, a quick ratio of 1.61 and a current ratio of 1.76. The stock has a market cap of $101.27 billion, a price-to-earnings ratio of 25.45, a P/E/G ratio of 1.23 and a beta of 1.56. QUALCOMM, Inc. has a 12 month low of $51.60 and a 12 month high of $96.17. The business has a 50-day simple moving average of $89.52 and a 200-day simple moving average of $82.26.
QUALCOMM (NASDAQ:QCOM) last posted its earnings results on Wednesday, February 5th. The wireless technology company reported $0.99 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.85 by $0.14. The company had revenue of $5.08 billion for the quarter, compared to analysts’ expectations of $4.86 billion. QUALCOMM had a return on equity of 66.54% and a net margin of 17.31%. QUALCOMM’s quarterly revenue was up 4.9% on a year-over-year basis. During the same period last year, the firm earned $1.20 earnings per share. On average, equities research analysts forecast that QUALCOMM, Inc. will post 3.68 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 26th. Investors of record on Thursday, March 5th will be paid a $0.62 dividend. The ex-dividend date of this dividend is Wednesday, March 4th. This represents a $2.48 annualized dividend and a dividend yield of 2.77%. QUALCOMM’s payout ratio is presently 87.32%.
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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