MADDEN SECURITIES Corp lowered its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM – Get Rating) by 14.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,677 shares of the wireless technology company’s stock after selling 800 shares during the quarter. MADDEN SECURITIES Corp’s holdings in QUALCOMM were worth $514,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Pin Oak Investment Advisors Inc. grew its position in QUALCOMM by 26.7% in the 2nd quarter. Pin Oak Investment Advisors Inc. now owns 337 shares of the wireless technology company’s stock worth $43,000 after purchasing an additional 71 shares during the last quarter. Birchcreek Wealth Management LLC grew its position in QUALCOMM by 4.3% in the 2nd quarter. Birchcreek Wealth Management LLC now owns 1,797 shares of the wireless technology company’s stock worth $230,000 after purchasing an additional 74 shares during the last quarter. Probity Advisors Inc. grew its position in QUALCOMM by 3.9% in the 2nd quarter. Probity Advisors Inc. now owns 2,085 shares of the wireless technology company’s stock worth $266,000 after purchasing an additional 79 shares during the last quarter. Certified Advisory Corp grew its position in QUALCOMM by 0.7% in the 1st quarter. Certified Advisory Corp now owns 11,582 shares of the wireless technology company’s stock worth $1,770,000 after purchasing an additional 79 shares during the last quarter. Finally, Carolinas Wealth Consulting LLC grew its position in QUALCOMM by 6.5% in the 3rd quarter. Carolinas Wealth Consulting LLC now owns 1,360 shares of the wireless technology company’s stock worth $154,000 after purchasing an additional 83 shares during the last quarter. 70.87% of the stock is currently owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
Several equities analysts recently issued reports on the stock. Bank of America reissued a “buy” rating and set a $150.00 price target on shares of QUALCOMM in a report on Friday, February 3rd. Credit Suisse Group raised their price objective on shares of QUALCOMM from $150.00 to $165.00 and gave the company an “outperform” rating in a research report on Friday, February 3rd. Raymond James began coverage on shares of QUALCOMM in a research report on Wednesday, March 1st. They issued a “market perform” rating for the company. Barclays upgraded shares of QUALCOMM from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $120.00 to $150.00 in a research report on Monday, January 23rd. Finally, JPMorgan Chase & Co. lowered their price target on shares of QUALCOMM from $185.00 to $160.00 and set an “overweight” rating for the company in a research report on Tuesday, December 20th. One analyst has rated the stock with a sell rating, five have given a hold rating and seventeen have assigned a buy rating to the stock. According to MarketBeat, QUALCOMM presently has an average rating of “Moderate Buy” and a consensus price target of $156.48.
Insider Buying and Selling at QUALCOMM
QUALCOMM Stock Performance
Shares of NASDAQ QCOM traded up $0.22 during mid-day trading on Friday, reaching $120.73. 12,304,145 shares of the company’s stock were exchanged, compared to its average volume of 7,995,837. The firm has a market capitalization of $134.61 billion, a price-to-earnings ratio of 11.63, a price-to-earnings-growth ratio of 0.91 and a beta of 1.28. QUALCOMM Incorporated has a 52 week low of $101.93 and a 52 week high of $161.30. The company has a debt-to-equity ratio of 0.82, a current ratio of 2.09 and a quick ratio of 1.41. The firm has a 50-day moving average price of $125.43 and a two-hundred day moving average price of $121.15.
QUALCOMM (NASDAQ:QCOM – Get Rating) last announced its quarterly earnings data on Thursday, February 2nd. The wireless technology company reported $2.37 earnings per share for the quarter, topping the consensus estimate of $2.35 by $0.02. QUALCOMM had a return on equity of 69.93% and a net margin of 27.40%. The company had revenue of $9.46 billion during the quarter, compared to analyst estimates of $9.57 billion. During the same quarter last year, the firm posted $2.96 EPS. The firm’s revenue for the quarter was down 11.6% on a year-over-year basis. Analysts predict that QUALCOMM Incorporated will post 8.21 EPS for the current year.
QUALCOMM Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Thursday, March 23rd. Shareholders of record on Thursday, March 2nd will be issued a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a yield of 2.48%. The ex-dividend date of this dividend is Wednesday, March 1st. QUALCOMM’s payout ratio is presently 28.90%.
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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