Jackson Wealth Management LLC lifted its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 5.5% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 37,347 shares of the wireless technology company’s stock after buying an additional 1,937 shares during the quarter. Jackson Wealth Management LLC’s holdings in QUALCOMM were worth $4,952,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds also recently added to or reduced their stakes in the company. Moser Wealth Advisors LLC grew its stake in QUALCOMM by 223.2% during the 4th quarter. Moser Wealth Advisors LLC now owns 181 shares of the wireless technology company’s stock valued at $28,000 after acquiring an additional 125 shares in the last quarter. Capital Directions Investment Advisors LLC lifted its holdings in QUALCOMM by 100.0% in the 4th quarter. Capital Directions Investment Advisors LLC now owns 200 shares of the wireless technology company’s stock worth $30,000 after purchasing an additional 100 shares during the last quarter. RMR Wealth Builders acquired a new stake in QUALCOMM in the 4th quarter worth approximately $30,000. Valley Brook Capital Group acquired a new stake in QUALCOMM in the 4th quarter worth approximately $30,000. Finally, Addison Advisors LLC acquired a new stake in QUALCOMM in the 4th quarter worth approximately $32,000. 74.76% of the stock is owned by institutional investors and hedge funds.
Several research firms recently weighed in on QCOM. Citigroup lowered QUALCOMM from a “buy” rating to a “neutral” rating and set a $165.00 target price for the company. in a report on Thursday, February 4th. Robert W. Baird began coverage on QUALCOMM in a report on Tuesday, December 22nd. They set an “outperform” rating and a $200.00 price target for the company. Piper Sandler upgraded QUALCOMM from a “neutral” rating to an “overweight” rating and upped their target price for the company from $150.00 to $160.00 in a research note on Wednesday, March 10th. JPMorgan Chase & Co. reduced their price target on QUALCOMM from $185.00 to $170.00 and set an “overweight” rating on the stock in a research report on Wednesday, March 10th. Finally, Morgan Stanley reduced their price target on QUALCOMM from $171.00 to $167.00 and set an “overweight” rating on the stock in a research report on Thursday, February 4th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $160.88.
QUALCOMM (NASDAQ:QCOM) last issued its quarterly earnings data on Wednesday, February 3rd. The wireless technology company reported $2.17 EPS for the quarter, topping the consensus estimate of $2.10 by $0.07. The firm had revenue of $8.24 billion during the quarter, compared to the consensus estimate of $8.26 billion. QUALCOMM had a return on equity of 90.74% and a net margin of 22.09%. The company’s quarterly revenue was up 62.2% compared to the same quarter last year. During the same period in the prior year, the business posted $0.80 earnings per share. Equities analysts predict that QUALCOMM Incorporated will post 6.33 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 25th. Stockholders of record on Thursday, March 4th were paid a $0.65 dividend. This represents a $2.60 annualized dividend and a dividend yield of 1.89%. The ex-dividend date was Wednesday, March 3rd. QUALCOMM’s dividend payout ratio (DPR) is presently 77.84%.
QUALCOMM Company Profile
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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