Banque Pictet & Cie SA cut its holdings in QUALCOMM, Inc. (NASDAQ:QCOM) by 2.3% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 29,750 shares of the wireless technology company’s stock after selling 700 shares during the period. Banque Pictet & Cie SA’s holdings in QUALCOMM were worth $1,697,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Prospera Financial Services Inc lifted its stake in QUALCOMM by 9.9% in the 1st quarter. Prospera Financial Services Inc now owns 9,301 shares of the wireless technology company’s stock worth $536,000 after purchasing an additional 835 shares in the last quarter. State of New Jersey Common Pension Fund D lifted its stake in QUALCOMM by 5.9% in the 1st quarter. State of New Jersey Common Pension Fund D now owns 1,070,000 shares of the wireless technology company’s stock worth $61,022,000 after purchasing an additional 60,000 shares in the last quarter. BancorpSouth Bank lifted its stake in QUALCOMM by 2.3% in the 1st quarter. BancorpSouth Bank now owns 64,066 shares of the wireless technology company’s stock worth $3,654,000 after purchasing an additional 1,468 shares in the last quarter. Robeco Institutional Asset Management B.V. lifted its stake in QUALCOMM by 33.5% in the 1st quarter. Robeco Institutional Asset Management B.V. now owns 567,371 shares of the wireless technology company’s stock worth $32,358,000 after purchasing an additional 142,454 shares in the last quarter. Finally, Flossbach Von Storch AG lifted its stake in QUALCOMM by 53.3% in the 1st quarter. Flossbach Von Storch AG now owns 325,000 shares of the wireless technology company’s stock worth $18,535,000 after purchasing an additional 113,000 shares in the last quarter. 82.04% of the stock is owned by institutional investors.
In other news, President Cristiano R. Amon sold 13,466 shares of QUALCOMM stock in a transaction dated Tuesday, April 16th. The shares were sold at an average price of $60.00, for a total transaction of $807,960.00. Following the sale, the president now owns 37,614 shares of the company’s stock, valued at approximately $2,256,840. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Inc/De Qualcomm sold 848,877 shares of QUALCOMM stock in a transaction dated Tuesday, April 23rd. The shares were sold at an average price of $34.20, for a total transaction of $29,031,593.40. Following the sale, the insider now directly owns 848,877 shares in the company, valued at approximately $29,031,593.40. The disclosure for this sale can be found here. Insiders have sold a total of 944,272 shares of company stock worth $36,962,932 in the last ninety days. Insiders own 0.11% of the company’s stock.
QCOM has been the topic of several research reports. Morgan Stanley upgraded shares of QUALCOMM from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $55.00 to $95.00 in a research report on Tuesday, April 23rd. BidaskClub lowered shares of QUALCOMM from a “sell” rating to a “strong sell” rating in a report on Tuesday, January 29th. Barclays reaffirmed a “buy” rating and set a $70.00 target price on shares of QUALCOMM in a report on Friday, January 18th. JPMorgan Chase & Co. reaffirmed a “buy” rating and set a $88.00 target price on shares of QUALCOMM in a report on Tuesday, April 23rd. Finally, Mizuho reduced their target price on shares of QUALCOMM from $66.00 to $62.00 and set a “buy” rating on the stock in a report on Thursday, January 31st. Seven analysts have rated the stock with a hold rating, twenty have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $83.09.
Shares of QUALCOMM stock opened at $86.26 on Thursday. The firm has a market capitalization of $101.98 billion, a price-to-earnings ratio of 27.04, a PEG ratio of 1.85 and a beta of 1.45. QUALCOMM, Inc. has a 12-month low of $49.10 and a 12-month high of $90.34. The company has a debt-to-equity ratio of 3.98, a quick ratio of 1.39 and a current ratio of 1.55.
QUALCOMM (NASDAQ:QCOM) last announced its quarterly earnings results on Wednesday, May 1st. The wireless technology company reported $0.61 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.54 by $0.07. The business had revenue of $4.88 billion for the quarter, compared to analyst estimates of $4.83 billion. QUALCOMM had a net margin of 11.57% and a return on equity of 56.69%. The company’s revenue was down 5.9% on a year-over-year basis. During the same quarter last year, the firm earned $0.80 EPS. Research analysts expect that QUALCOMM, Inc. will post 3.32 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, June 27th. Stockholders of record on Thursday, June 6th will be paid a dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a dividend yield of 2.88%. The ex-dividend date is Wednesday, June 5th. QUALCOMM’s payout ratio is 77.74%.
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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