Candriam Luxembourg S.C.A. lowered its position in QUALCOMM, Inc. (NASDAQ:QCOM) by 18.8% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 145,869 shares of the wireless technology company’s stock after selling 33,860 shares during the quarter. Candriam Luxembourg S.C.A.’s holdings in QUALCOMM were worth $8,319,000 as of its most recent SEC filing.
Other large investors have also recently made changes to their positions in the company. Lavaca Capital LLC bought a new stake in QUALCOMM during the 4th quarter valued at $25,000. Field & Main Bank bought a new stake in QUALCOMM during the 1st quarter valued at $32,000. Baldwin Brothers Inc. MA bought a new stake in QUALCOMM during the 1st quarter valued at $34,000. Transamerica Financial Advisors Inc. boosted its position in QUALCOMM by 688.5% during the 4th quarter. Transamerica Financial Advisors Inc. now owns 615 shares of the wireless technology company’s stock valued at $35,000 after acquiring an additional 537 shares in the last quarter. Finally, Brandywine Global Investment Management LLC bought a new stake in QUALCOMM during the 4th quarter valued at $36,000. 82.04% of the stock is currently owned by institutional investors.
A number of research firms have recently weighed in on QCOM. JPMorgan Chase & Co. began coverage on QUALCOMM in a research report on Wednesday, March 27th. They issued a “neutral” rating and a $54.00 price objective for the company. Canaccord Genuity reissued a “buy” rating and issued a $89.00 price objective (up previously from $75.00) on shares of QUALCOMM in a research report on Wednesday, April 17th. Bank of America raised QUALCOMM from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $90.00 to $105.00 in a research report on Thursday, May 2nd. Argus raised their price objective on QUALCOMM to $95.00 and gave the stock a “buy” rating in a research report on Wednesday, April 17th. Finally, Citigroup raised their price objective on QUALCOMM from $55.00 to $85.00 and gave the stock a “neutral” rating in a research report on Thursday, May 2nd. Seven investment analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $83.09.
Shares of QCOM stock opened at $86.13 on Thursday. The firm has a market capitalization of $101.98 billion, a P/E ratio of 27.00, a PEG ratio of 1.85 and a beta of 1.45. The company has a quick ratio of 1.39, a current ratio of 1.55 and a debt-to-equity ratio of 3.98. QUALCOMM, Inc. has a 1 year low of $49.10 and a 1 year high of $90.34.
QUALCOMM (NASDAQ:QCOM) last issued its earnings results on Wednesday, May 1st. The wireless technology company reported $0.61 earnings per share (EPS) for the quarter, topping 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 quarterly revenue was down 5.9% on a year-over-year basis. During the same quarter last year, the business posted $0.80 EPS. Analysts forecast that QUALCOMM, Inc. will post 3.32 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, June 27th. Investors of record on Thursday, June 6th will be paid a $0.62 dividend. The ex-dividend date is Wednesday, June 5th. This represents a $2.48 dividend on an annualized basis and a yield of 2.88%. QUALCOMM’s dividend payout ratio (DPR) is 77.74%.
In related news, major shareholder Inc/De Qualcomm sold 848,877 shares of the firm’s stock in a transaction on Tuesday, April 23rd. The stock was sold at an average price of $34.20, for a total value of $29,031,593.40. Following the completion of the transaction, the insider now owns 848,877 shares in the company, valued at approximately $29,031,593.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Donald J. Rosenberg sold 7,141 shares of the firm’s 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 disclosure for this sale can be found here. Insiders sold a total of 944,272 shares of company stock valued at $36,962,932 in the last 90 days. 0.11% of the stock is currently owned by company insiders.
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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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