Viking Fund Management LLC cut its stake in shares of QUALCOMM, Inc. (NASDAQ:QCOM) by 7.5% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 62,000 shares of the wireless technology company’s stock after selling 5,000 shares during the quarter. Viking Fund Management LLC’s holdings in QUALCOMM were worth $3,969,000 at the end of the most recent quarter.
Other large investors also recently bought and sold shares of the company. Wrapmanager Inc. acquired a new position in shares of QUALCOMM during the 3rd quarter worth $369,000. Garde Capital Inc. grew its stake in shares of QUALCOMM by 77.8% during the 3rd quarter. Garde Capital Inc. now owns 17,252 shares of the wireless technology company’s stock worth $894,000 after purchasing an additional 7,547 shares during the period. Conning Inc. grew its stake in shares of QUALCOMM by 16.4% during the 3rd quarter. Conning Inc. now owns 719,378 shares of the wireless technology company’s stock worth $37,293,000 after purchasing an additional 101,483 shares during the period. Stephens Inc. AR grew its stake in shares of QUALCOMM by 10.8% during the 2nd quarter. Stephens Inc. AR now owns 115,483 shares of the wireless technology company’s stock worth $6,377,000 after purchasing an additional 11,232 shares during the period. Finally, Ffcm LLC grew its stake in shares of QUALCOMM by 44.7% during the 3rd quarter. Ffcm LLC now owns 101,475 shares of the wireless technology company’s stock worth $5,261,000 after purchasing an additional 31,326 shares during the period. 78.11% of the stock is currently owned by institutional investors and hedge funds.
QCOM has been the topic of a number of recent analyst reports. Vetr raised shares of QUALCOMM from a “hold” rating to a “buy” rating and set a $74.63 price target on the stock in a research note on Friday, January 26th. ValuEngine upgraded shares of QUALCOMM from a “hold” rating to a “buy” rating in a research report on Friday, December 1st. Nomura upgraded shares of QUALCOMM from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $58.00 to $75.00 in a research report on Tuesday, January 16th. Canaccord Genuity boosted their price objective on shares of QUALCOMM from $83.00 to $86.00 and gave the stock a “buy” rating in a research report on Wednesday, January 17th. Finally, Mizuho reiterated a “buy” rating and issued a $75.00 price objective (up from $65.00) on shares of QUALCOMM in a research report on Wednesday, January 17th. Two research analysts have rated the stock with a sell rating, fifteen have given a hold rating and fourteen have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $68.25.
In other news, EVP Alexander H. Rogers sold 713 shares of the stock in a transaction dated Monday, January 29th. The shares were sold at an average price of $68.20, for a total transaction of $48,626.60. Following the transaction, the executive vice president now directly owns 10,403 shares in the company, valued at approximately $709,484.60. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Matthew S. Grob sold 43,000 shares of the stock in a transaction dated Tuesday, January 9th. The stock was sold at an average price of $65.35, for a total transaction of $2,810,050.00. Following the transaction, the executive vice president now owns 43,000 shares in the company, valued at $2,810,050. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 95,938 shares of company stock worth $6,137,671. Insiders own 0.24% of the company’s stock.
QUALCOMM, Inc. (QCOM) traded up $0.42 during trading hours on Wednesday, reaching $60.12. 29,754,505 shares of the company’s stock were exchanged, compared to its average volume of 15,900,000. The stock has a market cap of $89,000.00, a price-to-earnings ratio of -24.54, a price-to-earnings-growth ratio of 1.95 and a beta of 1.35. The company has a debt-to-equity ratio of 0.81, a quick ratio of 3.25 and a current ratio of 3.41. QUALCOMM, Inc. has a 52 week low of $48.92 and a 52 week high of $69.28.
QUALCOMM (NASDAQ:QCOM) last released its earnings results on Wednesday, January 31st. The wireless technology company reported $0.98 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.91 by $0.07. The company had revenue of $6.10 billion for the quarter, compared to analyst estimates of $5.93 billion. QUALCOMM had a negative net margin of 18.65% and a positive return on equity of 18.10%. The firm’s quarterly revenue was up 1.7% on a year-over-year basis. During the same period in the prior year, the firm earned $1.19 EPS. equities analysts predict that QUALCOMM, Inc. will post 2.8 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 21st. Stockholders of record on Wednesday, February 28th will be issued a dividend of $0.57 per share. The ex-dividend date of this dividend is Tuesday, February 27th. This represents a $2.28 annualized dividend and a dividend yield of 3.79%. QUALCOMM’s payout ratio is currently -93.06%.
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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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