Nomura Asset Management Co. Ltd. grew its stake in shares of QUALCOMM, Inc. (NASDAQ:QCOM) by 9.0% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 343,646 shares of the wireless technology company’s stock after purchasing an additional 28,511 shares during the period. Nomura Asset Management Co. Ltd.’s holdings in QUALCOMM were worth $23,248,000 as of its most recent filing with the SEC.
A number of other institutional investors and hedge funds also recently modified their holdings of the business. Park Avenue Securities LLC grew its holdings in shares of QUALCOMM by 23.5% in the fourth quarter. Park Avenue Securities LLC now owns 3,621 shares of the wireless technology company’s stock valued at $319,000 after acquiring an additional 688 shares in the last quarter. Howard Wealth Management LLC bought a new position in shares of QUALCOMM in the fourth quarter valued at approximately $31,000. Naples Global Advisors LLC grew its holdings in shares of QUALCOMM by 9.3% in the fourth quarter. Naples Global Advisors LLC now owns 5,726 shares of the wireless technology company’s stock valued at $505,000 after acquiring an additional 486 shares in the last quarter. Samalin Investment Counsel LLC bought a new position in shares of QUALCOMM in the fourth quarter valued at approximately $27,000. Finally, Signaturefd LLC grew its holdings in shares of QUALCOMM by 18.2% in the fourth quarter. Signaturefd LLC now owns 10,412 shares of the wireless technology company’s stock valued at $919,000 after acquiring an additional 1,604 shares in the last quarter. 74.56% of the stock is owned by hedge funds and other institutional investors.
Several equities analysts have recently issued reports on QCOM shares. BNP Paribas lowered QUALCOMM from an “outperform” rating to an “underperform” rating and set a $65.00 target price for the company. in a report on Tuesday, March 24th. Raymond James lowered QUALCOMM to a “sell” rating in a report on Friday, June 5th. Rosenblatt Securities started coverage on QUALCOMM in a research note on Friday, June 5th. They issued a “buy” rating and a $105.00 price objective on the stock. ValuEngine upgraded QUALCOMM from a “sell” rating to a “hold” rating in a research note on Tuesday, March 3rd. Finally, Mizuho dropped their price objective on QUALCOMM from $95.00 to $91.00 and set a “buy” rating on the stock in a research note on Wednesday, April 29th. Five equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and fourteen have issued a buy rating to the company. The company has an average rating of “Hold” and an average target price of $90.23.
Shares of QCOM stock traded down $4.67 on Thursday, reaching $86.34. The company’s stock had a trading volume of 7,860,848 shares, compared to its average volume of 11,192,879. The company has a quick ratio of 1.39, a current ratio of 1.57 and a debt-to-equity ratio of 4.42. QUALCOMM, Inc. has a 12-month low of $58.00 and a 12-month high of $96.17. The company has a market capitalization of $103.07 billion, a P/E ratio of 25.77, a PEG ratio of 1.56 and a beta of 1.35. The stock’s 50 day simple moving average is $79.37 and its 200-day simple moving average is $81.51.
QUALCOMM (NASDAQ:QCOM) last issued its quarterly earnings data on Wednesday, April 29th. The wireless technology company reported $0.88 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.79 by $0.09. QUALCOMM had a return on equity of 69.92% and a net margin of 16.36%. The company had revenue of $5.21 billion for the quarter, compared to the consensus estimate of $5.04 billion. During the same quarter last year, the business posted $0.77 earnings per share. The firm’s revenue was up 6.6% compared to the same quarter last year. Research analysts expect that QUALCOMM, Inc. will post 3.08 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 25th. Investors of record on Thursday, June 4th will be given a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a dividend yield of 3.01%. The ex-dividend date of this dividend is Wednesday, June 3rd. This is an increase from QUALCOMM’s previous quarterly dividend of $0.62. QUALCOMM’s dividend payout ratio (DPR) is 91.55%.
In related news, CAO Erin L. Polek sold 1,646 shares of the stock in a transaction on Thursday, May 21st. The stock was sold at an average price of $79.47, for a total value of $130,807.62. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 0.12% of the company’s stock.
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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