Pzena Investment Management LLC boosted its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 0.0% during the first quarter, Holdings Channel reports. The institutional investor owned 743,776 shares of the wireless technology company’s stock after buying an additional 45 shares during the period. Pzena Investment Management LLC’s holdings in QUALCOMM were worth $42,648,000 as of its most recent SEC filing.
Other hedge funds have also recently added to or reduced their stakes in the company. GSA Capital Partners LLP boosted its stake in QUALCOMM by 572.8% in the fourth quarter. GSA Capital Partners LLP now owns 114,706 shares of the wireless technology company’s stock worth $7,479,000 after buying an additional 97,656 shares in the last quarter. Doyle Wealth Management purchased a new stake in QUALCOMM during the first quarter worth $17,957,000. Berkshire Asset Management LLC PA boosted its stake in QUALCOMM by 2.7% in the first quarter. Berkshire Asset Management LLC PA now owns 168,062 shares of the wireless technology company’s stock worth $9,637,000 after buying an additional 4,356 shares in the last quarter. P.R. Herzig & Co. Inc. boosted its stake in QUALCOMM by 6.2% in the first quarter. P.R. Herzig & Co. Inc. now owns 35,925 shares of the wireless technology company’s stock worth $2,060,000 after buying an additional 2,100 shares in the last quarter. Finally, Triangle Securities Wealth Management boosted its stake in QUALCOMM by 9.2% in the first quarter. Triangle Securities Wealth Management now owns 9,887 shares of the wireless technology company’s stock worth $567,000 after buying an additional 830 shares in the last quarter. Institutional investors and hedge funds own 76.73% of the company’s stock.
QUALCOMM Incorporated (NASDAQ QCOM) opened at 53.27 on Wednesday. The stock has a market capitalization of $78.63 billion, a price-to-earnings ratio of 20.40 and a beta of 1.30. The firm’s 50-day moving average is $56.27 and its 200-day moving average is $56.58. QUALCOMM Incorporated has a 52-week low of $51.05 and a 52-week high of $71.62.
QUALCOMM (NASDAQ:QCOM) last posted its quarterly earnings data on Wednesday, July 19th. The wireless technology company reported $0.83 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.81 by $0.02. The business had revenue of $5.37 billion during the quarter, compared to the consensus estimate of $5.25 billion. QUALCOMM had a return on equity of 19.64% and a net margin of 17.26%. The company’s revenue was down 11.1% compared to the same quarter last year. During the same period in the prior year, the company earned $1.16 earnings per share. Analysts predict that QUALCOMM Incorporated will post $4.17 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 20th. Stockholders of record on Wednesday, August 30th will be issued a $0.57 dividend. This represents a $2.28 annualized dividend and a dividend yield of 4.28%. The ex-dividend date of this dividend is Monday, August 28th. QUALCOMM’s payout ratio is currently 87.36%.
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QCOM has been the topic of a number of recent analyst reports. Vetr upgraded shares of QUALCOMM from a “hold” rating to a “buy” rating and set a $60.45 price target on the stock in a report on Wednesday, June 7th. Susquehanna Bancshares Inc restated a “positive” rating and issued a $61.00 price target (down from $63.00) on shares of QUALCOMM in a report on Thursday, May 4th. Stifel Nicolaus restated a “buy” rating and issued a $64.00 price target on shares of QUALCOMM in a report on Monday, April 17th. Wells Fargo & Company restated an “outperform” rating and issued a $75.00 price target on shares of QUALCOMM in a report on Saturday, April 22nd. Finally, Zacks Investment Research cut shares of QUALCOMM from a “hold” rating to a “strong sell” rating in a report on Tuesday, June 20th. Three equities research analysts have rated the stock with a sell rating, eighteen have given a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $64.32.
In other news, EVP Alexander H. Rogers sold 470 shares of the stock in a transaction that occurred on Tuesday, May 30th. The stock was sold at an average price of $57.28, for a total value of $26,921.60. Following the completion of the sale, the executive vice president now directly owns 3,049 shares of the company’s stock, valued at $174,646.72. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, President Derek K. Aberle sold 23,104 shares of the stock in a transaction that occurred on Monday, July 10th. The shares were sold at an average price of $55.38, for a total value of $1,279,499.52. Following the completion of the sale, the president now directly owns 5,855 shares of the company’s stock, valued at $324,249.90. The disclosure for this sale can be found here. Insiders sold 62,473 shares of company stock valued at $3,526,917 over the last three months. Corporate insiders own 0.24% of the company’s stock.
QUALCOMM Company Profile
QUALCOMM Incorporated is engaged in the development and commercialization of a digital communication technology called code division multiple access (CDMA). The Company is engaged in the development and commercialization of the orthogonal frequency division multiple access (OFDMA) family of technologies, including long-term evolution (LTE), which is an Orthogonal Frequency Division Multiplexing (OFDM)-based standard that uses OFDMA and single-carrier Frequency Division Multiple Access (FDMA), for cellular wireless communication applications.
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