Boston Financial Mangement LLC grew its holdings in QUALCOMM, Inc. (NASDAQ:QCOM) by 2.9% in the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 253,201 shares of the wireless technology company’s stock after buying an additional 7,082 shares during the quarter. Boston Financial Mangement LLC’s holdings in QUALCOMM were worth $14,440,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in QCOM. Los Angeles Capital Management & Equity Research Inc. lifted its stake in shares of QUALCOMM by 60.7% in the 1st quarter. Los Angeles Capital Management & Equity Research Inc. now owns 717,198 shares of the wireless technology company’s stock valued at $40,902,000 after purchasing an additional 270,840 shares during the period. Radnor Capital Management LLC lifted its stake in shares of QUALCOMM by 4.6% in the 1st quarter. Radnor Capital Management LLC now owns 29,192 shares of the wireless technology company’s stock valued at $1,665,000 after purchasing an additional 1,285 shares during the period. OLD Second National Bank of Aurora lifted its stake in shares of QUALCOMM by 4.7% in the 1st quarter. OLD Second National Bank of Aurora now owns 37,027 shares of the wireless technology company’s stock valued at $2,112,000 after purchasing an additional 1,661 shares during the period. Security National Trust Co. lifted its stake in shares of QUALCOMM by 26.0% in the 1st quarter. Security National Trust Co. now owns 17,540 shares of the wireless technology company’s stock valued at $1,000,000 after purchasing an additional 3,615 shares during the period. Finally, Canandaigua National Bank & Trust Co. lifted its stake in shares of QUALCOMM by 3.2% in the 1st quarter. Canandaigua National Bank & Trust Co. now owns 33,094 shares of the wireless technology company’s stock valued at $1,887,000 after purchasing an additional 1,018 shares during the period. Institutional investors and hedge funds own 82.04% of the company’s stock.
A number of research analysts have recently commented on QCOM shares. Mizuho lowered their target price on QUALCOMM from $66.00 to $62.00 and set a “buy” rating for the company in a research note on Thursday, January 31st. Zacks Investment Research upgraded QUALCOMM from a “hold” rating to a “buy” rating and set a $58.00 target price for the company in a research note on Wednesday, February 13th. Raymond James set a $65.00 target price on QUALCOMM and gave the company a “buy” rating in a research note on Saturday, February 2nd. BidaskClub upgraded QUALCOMM from a “hold” rating to a “buy” rating in a research note on Friday, March 22nd. Finally, Stifel Nicolaus upgraded QUALCOMM from a “hold” rating to a “buy” rating and raised their target price for the company from $57.00 to $100.00 in a research note on Tuesday, April 16th. Eight equities research analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $83.09.
In other QUALCOMM news, EVP Donald J. Rosenberg sold 7,141 shares of QUALCOMM stock in a transaction on Friday, May 10th. The stock was sold at an average price of $84.56, for a total value of $603,842.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Michelle M. Sterling sold 5,560 shares of QUALCOMM stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $86.44, for a total value of $480,606.40. The disclosure for this sale can be found here. In the last three months, insiders sold 949,832 shares of company stock valued at $37,443,538. Corporate insiders own 0.11% of the company’s stock.
QCOM stock traded down $8.44 on Wednesday, reaching $69.31. 65,114,904 shares of the company traded hands, compared to its average volume of 19,155,967. QUALCOMM, Inc. has a one year low of $49.10 and a one year high of $90.34. The company has a quick ratio of 1.39, a current ratio of 1.55 and a debt-to-equity ratio of 3.98. The firm has a market cap of $99.08 billion, a PE ratio of 21.73, a price-to-earnings-growth ratio of 1.79 and a beta of 1.45.
QUALCOMM (NASDAQ:QCOM) last posted its quarterly earnings data on Wednesday, May 1st. The wireless technology company reported $0.61 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.54 by $0.07. The company had revenue of $4.88 billion during the quarter, compared to analyst estimates of $4.83 billion. QUALCOMM had a return on equity of 56.69% and a net margin of 11.57%. The firm’s revenue for the quarter was down 5.9% on a year-over-year basis. During the same quarter last year, the company earned $0.80 EPS. On average, research analysts expect that QUALCOMM, Inc. will post 3.32 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 27th. Shareholders of record on Thursday, June 6th will be issued a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a dividend yield of 3.58%. The ex-dividend date of this dividend is Wednesday, June 5th. QUALCOMM’s payout ratio is 77.74%.
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QUALCOMM Company Profile
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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