Palladium Partners LLC cut its stake in shares of QUALCOMM, Inc. (NASDAQ:QCOM) by 4.6% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 5,800 shares of the wireless technology company’s stock after selling 280 shares during the period. Palladium Partners LLC’s holdings in QUALCOMM were worth $331,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds also recently made changes to their positions in the company. Oregon Public Employees Retirement Fund grew its position in QUALCOMM by 9,505.7% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 33,612,696 shares of the wireless technology company’s stock valued at $591,000 after acquiring an additional 33,262,770 shares during the last quarter. Bank of New York Mellon Corp grew its position in QUALCOMM by 24.1% during the fourth quarter. Bank of New York Mellon Corp now owns 25,852,938 shares of the wireless technology company’s stock valued at $1,471,289,000 after acquiring an additional 5,022,323 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC grew its position in QUALCOMM by 0.5% during the fourth quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 20,156,306 shares of the wireless technology company’s stock valued at $1,147,095,000 after acquiring an additional 96,527 shares during the last quarter. Norges Bank bought a new position in QUALCOMM during the fourth quarter valued at approximately $736,806,000. Finally, Eaton Vance Management grew its position in QUALCOMM by 10.3% during the fourth quarter. Eaton Vance Management now owns 7,306,885 shares of the wireless technology company’s stock valued at $415,835,000 after acquiring an additional 680,397 shares during the last quarter. Hedge funds and other institutional investors own 82.04% of the company’s stock.
In other QUALCOMM news, SVP Erin L. Polek sold 6,118 shares of the stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $89.26, for a total value of $546,092.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Michelle M. Sterling sold 5,560 shares of the 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 quarter, insiders sold 949,832 shares of company stock valued at $37,443,538. 0.11% of the stock is owned by corporate insiders.
QCOM opened at $81.50 on Monday. 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 capitalization of $99.08 billion, a price-to-earnings ratio of 25.55, a PEG ratio of 1.79 and a beta of 1.45. QUALCOMM, Inc. has a 12-month low of $49.10 and a 12-month high of $90.34.
QUALCOMM (NASDAQ:QCOM) last posted its quarterly earnings data 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 during the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.80 earnings per share. On average, equities analysts predict that QUALCOMM, Inc. will post 3.32 earnings per share for the current year.
The company also recently disclosed 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. The ex-dividend date is Wednesday, June 5th. This represents a $2.48 dividend on an annualized basis and a yield of 3.04%. QUALCOMM’s dividend payout ratio (DPR) is 77.74%.
A number of research analysts have commented on the stock. Zacks Investment Research cut shares of QUALCOMM from a “buy” rating to a “hold” rating in a research report on Tuesday, February 19th. Citigroup increased their price target on shares of QUALCOMM from $55.00 to $85.00 and gave the company a “neutral” rating in a research report on Thursday, May 2nd. Macquarie set a $85.00 price target on shares of QUALCOMM and gave the company a “buy” rating in a research report on Wednesday, April 17th. Rosenblatt Securities increased their price target on shares of QUALCOMM from $70.00 to $82.00 and gave the company a “buy” rating in a research report on Wednesday, April 17th. Finally, BidaskClub upgraded shares of QUALCOMM from a “strong sell” rating to a “sell” rating in a research report on Friday, March 1st. Seven equities research analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has issued a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $83.09.
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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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