Posted by on Mar 8th, 2022
Investors Financial Group LLC grew its position in QUALCOMM Incorporated (NASDAQ:QCOM – Get Rating) by 36.3% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 2,512 shares of the wireless technology company’s stock after buying an additional 669 shares during the period. Investors Financial Group LLC’s holdings in QUALCOMM were worth $459,000 at the end of the most recent quarter.
Other institutional investors have also modified their holdings of the company. BKD Wealth Advisors LLC acquired a new position in shares of QUALCOMM in the fourth quarter valued at approximately $303,000. Nepsis Inc. bought a new position in QUALCOMM during the 4th quarter worth about $16,857,000. Baugh & Associates LLC raised its stake in shares of QUALCOMM by 2.8% in the 4th quarter. Baugh & Associates LLC now owns 24,908 shares of the wireless technology company’s stock valued at $4,555,000 after purchasing an additional 690 shares during the period. Fundamentun LLC lifted its holdings in shares of QUALCOMM by 5.1% in the fourth quarter. Fundamentun LLC now owns 9,536 shares of the wireless technology company’s stock valued at $1,744,000 after purchasing an additional 467 shares in the last quarter. Finally, Koshinski Asset Management Inc. boosted its position in shares of QUALCOMM by 24.4% during the fourth quarter. Koshinski Asset Management Inc. now owns 16,712 shares of the wireless technology company’s stock worth $3,056,000 after buying an additional 3,274 shares during the period. 72.78% of the stock is currently owned by institutional investors and hedge funds.
A number of research firms recently weighed in on QCOM. Piper Sandler raised their target price on shares of QUALCOMM from $190.00 to $225.00 and gave the company an “overweight” rating in a research report on Wednesday, November 17th. Susquehanna reaffirmed a “hold” rating and issued a $190.00 target price (up previously from $175.00) on shares of QUALCOMM in a research report on Thursday, February 3rd. Canaccord Genuity Group increased their price target on QUALCOMM from $225.00 to $250.00 and gave the company a “buy” rating in a research report on Thursday, February 3rd. Deutsche Bank Aktiengesellschaft boosted their price target on QUALCOMM from $190.00 to $210.00 and gave the stock a “buy” rating in a research report on Wednesday, November 17th. Finally, Cowen increased their price objective on QUALCOMM from $210.00 to $220.00 and gave the company an “outperform” rating in a report on Thursday, February 3rd. Nine analysts have rated the stock with a hold rating, fifteen have given a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, QUALCOMM currently has a consensus rating of “Buy” and a consensus target price of $203.16.
QUALCOMM stock opened at $150.10 on Tuesday. The business has a 50 day moving average of $174.54 and a 200-day moving average of $160.47. The company has a market capitalization of $168.11 billion, a P/E ratio of 17.19, a P/E/G ratio of 0.95 and a beta of 1.24. QUALCOMM Incorporated has a 1 year low of $122.17 and a 1 year high of $193.58. The company has a debt-to-equity ratio of 1.21, a current ratio of 1.65 and a quick ratio of 1.33.
QUALCOMM (NASDAQ:QCOM – Get Rating) last posted its quarterly earnings data on Wednesday, February 2nd. The wireless technology company reported $2.96 earnings per share for the quarter, beating the Zacks’ consensus estimate of $2.77 by $0.19. The business had revenue of $10.70 billion during the quarter, compared to the consensus estimate of $10.43 billion. QUALCOMM had a return on equity of 104.90% and a net margin of 27.71%. QUALCOMM’s quarterly revenue was up 30.0% on a year-over-year basis. During the same period in the prior year, the business posted $1.97 earnings per share. Equities analysts anticipate that QUALCOMM Incorporated will post 10.65 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, March 24th. Stockholders of record on Thursday, March 3rd will be given a $0.68 dividend. The ex-dividend date is Wednesday, March 2nd. This represents a $2.72 dividend on an annualized basis and a dividend yield of 1.81%. QUALCOMM’s dividend payout ratio (DPR) is currently 31.16%.
In other QUALCOMM news, CTO James H. Thompson sold 9,900 shares of QUALCOMM stock in a transaction that occurred on Friday, December 10th. The stock was sold at an average price of $183.39, for a total value of $1,815,561.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Akash J. Palkhiwala sold 3,100 shares of the business’s stock in a transaction on Thursday, February 10th. The shares were sold at an average price of $179.83, for a total transaction of $557,473.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 23,544 shares of company stock worth $4,333,191. Insiders own 0.05% of the company’s stock.
QUALCOMM Profile (Get Rating)
QUALCOMM, Inc engages in the development, design, and provision of digital telecommunications products and services. It operates through the following 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 technologies for the use in voice and data communications, networking, application processing, multimedia, and global positioning system products.
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