Courier Capital LLC lifted its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 6.5% during the third quarter, Holdings Channel.com reports. The institutional investor owned 3,491 shares of the wireless technology company’s stock after acquiring an additional 214 shares during the quarter. Courier Capital LLC’s holdings in QUALCOMM were worth $506,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also recently bought and sold shares of QCOM. Morgan Stanley grew its position in shares of QUALCOMM by 6.3% during the 1st quarter. Morgan Stanley now owns 5,838,244 shares of the wireless technology company’s stock worth $394,958,000 after buying an additional 346,856 shares in the last quarter. Csenge Advisory Group bought a new position in shares of QUALCOMM during the 2nd quarter worth $227,000. Financial Sense Advisors Inc. grew its position in shares of QUALCOMM by 3.3% during the 2nd quarter. Financial Sense Advisors Inc. now owns 42,334 shares of the wireless technology company’s stock worth $3,861,000 after buying an additional 1,344 shares in the last quarter. DORCHESTER WEALTH MANAGEMENT Co bought a new position in shares of QUALCOMM during the 2nd quarter worth $365,000. Finally, Symmetry Partners LLC grew its position in shares of QUALCOMM by 7.8% during the 2nd quarter. Symmetry Partners LLC now owns 16,028 shares of the wireless technology company’s stock worth $1,462,000 after buying an additional 1,164 shares in the last quarter. 74.79% of the stock is currently owned by institutional investors and hedge funds.
QUALCOMM stock opened at $148.74 on Tuesday. QUALCOMM Incorporated has a twelve month low of $58.00 and a twelve month high of $149.41. The stock’s fifty day simple moving average is $128.60 and its 200-day simple moving average is $104.55. The company has a current ratio of 1.97, a quick ratio of 1.67 and a debt-to-equity ratio of 4.67. The firm has a market capitalization of $168.60 billion, a P/E ratio of 62.90, a P/E/G ratio of 0.89 and a beta of 1.34.
QUALCOMM (NASDAQ:QCOM) last posted its quarterly earnings data on Wednesday, November 4th. The wireless technology company reported $1.45 earnings per share for the quarter, topping analysts’ consensus estimates of $1.17 by $0.28. QUALCOMM had a return on equity of 78.39% and a net margin of 13.72%. The business had revenue of $6.50 billion for the quarter, compared to analyst estimates of $5.94 billion. During the same quarter in the prior year, the company earned $0.78 earnings per share. The company’s revenue was up 35.3% on a year-over-year basis. Sell-side analysts predict that QUALCOMM Incorporated will post 3.2 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 17th. Investors of record on Thursday, December 3rd will be issued a $0.65 dividend. This represents a $2.60 annualized dividend and a yield of 1.75%. The ex-dividend date of this dividend is Wednesday, December 2nd. QUALCOMM’s dividend payout ratio (DPR) is presently 91.55%.
In related news, EVP Alexander H. Rogers sold 8,491 shares of the stock in a transaction on Friday, October 2nd. The stock was sold at an average price of $116.78, for a total value of $991,578.98. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, President Cristiano R. Amon sold 20,530 shares of the stock in a transaction on Wednesday, October 14th. The shares were sold at an average price of $130.60, for a total value of $2,681,218.00. Following the completion of the transaction, the president now directly owns 50,753 shares in the company, valued at approximately $6,628,341.80. The disclosure for this sale can be found here. Insiders sold 39,741 shares of company stock worth $4,940,651 in the last three months. 0.12% of the stock is currently owned by corporate insiders.
A number of equities research analysts recently weighed in on the company. Deutsche Bank Aktiengesellschaft upped their price objective on QUALCOMM from $127.00 to $150.00 and gave the stock a “buy” rating in a research note on Thursday, November 5th. Canaccord Genuity upped their price objective on QUALCOMM from $150.00 to $175.00 and gave the stock a “buy” rating in a research note on Thursday, November 5th. Argus increased their price target on QUALCOMM from $150.00 to $175.00 and gave the company a “buy” rating in a research note on Friday, November 6th. Mizuho boosted their target price on shares of QUALCOMM from $145.00 to $154.00 and gave the stock a “buy” rating in a research report on Thursday, November 5th. Finally, Piper Sandler boosted their target price on shares of QUALCOMM from $110.00 to $140.00 and gave the stock a “neutral” rating in a research report on Thursday, November 5th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating, twenty-one have given a buy rating and one has issued a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $142.08.
QUALCOMM Company Profile
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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