Ropes Wealth Advisors LLC decreased its position in QUALCOMM, Inc. (NASDAQ:QCOM) by 22.0% in the 1st quarter, HoldingsChannel reports. The fund owned 7,076 shares of the wireless technology company’s stock after selling 2,000 shares during the quarter. Ropes Wealth Advisors LLC’s holdings in QUALCOMM were worth $404,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently bought and sold shares of QCOM. Oregon Public Employees Retirement Fund boosted its holdings in shares of QUALCOMM by 9,505.7% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 33,612,696 shares of the wireless technology company’s stock worth $591,000 after buying an additional 33,262,770 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of QUALCOMM by 24.1% in the 4th quarter. Bank of New York Mellon Corp now owns 25,852,938 shares of the wireless technology company’s stock worth $1,471,289,000 after buying an additional 5,022,323 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC boosted its holdings in shares of QUALCOMM by 0.5% in the 4th quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 20,156,306 shares of the wireless technology company’s stock worth $1,147,095,000 after buying an additional 96,527 shares during the last quarter. Morgan Stanley boosted its holdings in shares of QUALCOMM by 163.2% in the 3rd quarter. Morgan Stanley now owns 18,891,278 shares of the wireless technology company’s stock worth $1,360,740,000 after buying an additional 11,713,988 shares during the last quarter. Finally, Norges Bank purchased a new position in shares of QUALCOMM in the 4th quarter worth about $736,806,000. Hedge funds and other institutional investors own 83.70% of the company’s stock.
In other QUALCOMM news, EVP James H. Thompson sold 40,000 shares of the company’s stock in a transaction dated Monday, February 11th. The shares were sold at an average price of $50.75, for a total transaction of $2,030,000.00. Following the sale, the executive vice president now directly owns 62,301 shares of the company’s stock, valued at $3,161,775.75. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.11% of the stock is owned by corporate insiders.
A number of brokerages recently weighed in on QCOM. BidaskClub downgraded shares of QUALCOMM from a “buy” rating to a “hold” rating in a report on Thursday, April 11th. JPMorgan Chase & Co. began coverage on shares of QUALCOMM in a report on Wednesday, March 27th. They issued a “neutral” rating and a $54.00 price target on the stock. ValuEngine raised shares of QUALCOMM from a “sell” rating to a “hold” rating in a report on Tuesday, March 5th. Zacks Investment Research downgraded shares of QUALCOMM from a “buy” rating to a “hold” rating in a report on Tuesday, February 19th. Finally, Raymond James set a $65.00 price target on shares of QUALCOMM and gave the stock a “buy” rating in a report on Saturday, February 2nd. Thirteen analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $65.95.
NASDAQ QCOM opened at $57.18 on Tuesday. The stock has a market cap of $68.93 billion, a price-to-earnings ratio of 17.92, a price-to-earnings-growth ratio of 1.80 and a beta of 1.22. QUALCOMM, Inc. has a 52 week low of $48.56 and a 52 week high of $76.50. The company has a current ratio of 1.54, a quick ratio of 1.38 and a debt-to-equity ratio of 4.25.
QUALCOMM (NASDAQ:QCOM) last released its quarterly earnings data on Wednesday, January 30th. The wireless technology company reported $1.20 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.09 by $0.11. The business had revenue of $4.80 billion for the quarter, compared to the consensus estimate of $4.89 billion. QUALCOMM had a net margin of 10.03% and a return on equity of 36.66%. The company’s revenue was down 21.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.98 earnings per share. On average, analysts anticipate that QUALCOMM, Inc. will post 3.21 earnings per share for the current fiscal year.
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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