Cobblestone Capital Advisors LLC NY decreased its position in QUALCOMM Incorporated (NASDAQ:QCOM) by 1.9% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 8,441 shares of the wireless technology company’s stock after selling 160 shares during the period. Cobblestone Capital Advisors LLC NY’s holdings in QUALCOMM were worth $1,286,000 as of its most recent SEC filing.
Other institutional investors have also recently bought and sold shares of the company. Xcel Wealth Management LLC raised its holdings in shares of QUALCOMM by 1.2% in the 4th quarter. Xcel Wealth Management LLC now owns 5,934 shares of the wireless technology company’s stock worth $903,000 after buying an additional 70 shares in the last quarter. PDS Planning Inc raised its stake in QUALCOMM by 3.9% during the 4th quarter. PDS Planning Inc now owns 1,867 shares of the wireless technology company’s stock worth $284,000 after buying an additional 70 shares during the period. Bedel Financial Consulting Inc. raised its stake in shares of QUALCOMM by 19.5% in the 4th quarter. Bedel Financial Consulting Inc. now owns 459 shares of the wireless technology company’s stock valued at $70,000 after purchasing an additional 75 shares during the period. ICW Investment Advisors LLC raised its stake in shares of QUALCOMM by 2.3% in the 3rd quarter. ICW Investment Advisors LLC now owns 3,440 shares of the wireless technology company’s stock valued at $405,000 after purchasing an additional 78 shares during the period. Finally, Savant Capital LLC increased its position in shares of QUALCOMM by 1.0% in the fourth quarter. Savant Capital LLC now owns 7,993 shares of the wireless technology company’s stock valued at $1,218,000 after acquiring an additional 81 shares during the last quarter. 74.76% of the stock is owned by hedge funds and other institutional investors.
In other QUALCOMM news, EVP Alexander H. Rogers sold 35,102 shares of the stock in a transaction on Tuesday, December 8th. The shares were sold at an average price of $157.17, for a total transaction of $5,516,981.34. Following the completion of the transaction, the executive vice president now owns 64,365 shares in the company, valued at $10,116,247.05. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, President Cristiano R. Amon sold 73,220 shares of the stock in a transaction on Wednesday, December 16th. The shares were sold at an average price of $148.72, for a total transaction of $10,889,278.40. Following the transaction, the president now owns 50,753 shares of the company’s stock, valued at approximately $7,547,986.16. The disclosure for this sale can be found here. 0.12% of the stock is currently owned by corporate insiders.
QUALCOMM (NASDAQ:QCOM) last issued its earnings results on Wednesday, February 3rd. The wireless technology company reported $2.17 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.10 by $0.07. QUALCOMM had a net margin of 22.09% and a return on equity of 90.74%. The firm had revenue of $8.24 billion during the quarter, compared to analyst estimates of $8.26 billion. During the same quarter in the prior year, the business earned $0.80 earnings per share. QUALCOMM’s revenue for the quarter was up 62.2% on a year-over-year basis. As a group, sell-side analysts expect that QUALCOMM Incorporated will post 6.33 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, March 25th. Investors of record on Thursday, March 4th will be given a dividend of $0.65 per share. The ex-dividend date of this dividend is Wednesday, March 3rd. This represents a $2.60 dividend on an annualized basis and a dividend yield of 1.90%. QUALCOMM’s dividend payout ratio is 77.84%.
A number of equities research analysts have recently issued reports on QCOM shares. Citigroup cut QUALCOMM from a “buy” rating to a “neutral” rating and set a $165.00 price objective for the company. in a report on Thursday, February 4th. Mizuho upped their price target on shares of QUALCOMM from $163.00 to $170.00 and gave the stock a “buy” rating in a report on Thursday, February 4th. Oppenheimer reissued a “hold” rating on shares of QUALCOMM in a research note on Thursday, November 5th. Cascend Securities upped their price target on shares of QUALCOMM from $175.00 to $185.00 and gave the company a “buy” rating in a research report on Tuesday, February 2nd. Finally, Piper Sandler increased their price objective on shares of QUALCOMM from $140.00 to $150.00 and gave the stock a “neutral” rating in a research report on Friday, December 4th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $157.81.
QUALCOMM Incorporated engages in the development and commercialization of foundational technologies and products are used in mobile devices and other wireless products, including network equipment, broadband gateway equipment, consumer electronic devices, and other connected devices worldwide. It operates through three segments: Qualcomm CDMA Technologies (QCT); Qualcomm Technology Licensing (QTL); and Qualcomm Strategic Initiatives (QSI).
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