Bowling Portfolio Management LLC cut its stake in shares of QUALCOMM Incorporated (NASDAQ: QCOM – Get Rating) by 1.1% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 7,604 shares of the wireless technology company stock after selling 86 shares during the quarter. Bowling Portfolio Management LLC’s holdings in QUALCOMM were worth $ 1,162,000 at the end of the most recent reporting period.
Several other institutional investors also recently made changes to their positions in the company. Centaurus Financial Inc. grew its position in shares of QUALCOMM by 0.9% during the fourth quarter. Centaurus Financial Inc. now owns 6,566 shares of the wireless technology company stock worth $ 1,201,000 after buying an additional 57 shares in the last quarter. Chase Investment Counsel Corp grew its position in shares of QUALCOMM by 0.3% during the fourth quarter. Chase Investment Counsel Corp now owns 21,620 shares of the wireless technology company stock worth $ 3,953,000 after buying an additional 58 shares in the last quarter. OLD Second National Bank of Aurora grew its position in shares of QUALCOMM by 0.3% during the third quarter. OLD Second National Bank of Aurora now owns 21,442 shares of the wireless technology company stock worth $ 2,766,000 after buying an additional 60 shares in the last quarter. WealthPLAN Partners LLC boosted its holdings in QUALCOMM by 2.8% in the third quarter. WealthPLAN Partners LLC now owns 2,212 shares of the wireless technology company stock valued at $ 406,000 after purchasing an additional 61 shares in the last quarter. Finally, Hemington Wealth Management boosted its holdings in QUALCOMM by 2.4% in the fourth quarter. Hemington Wealth Management now owns 2,613 shares of the wireless technology company stock valued at $ 398,000 after purchasing an additional 61 shares in the last quarter. 73.61% of the stock is owned by institutional investors and hedge funds.
QUALCOMM stock opened at $ 122.16 on Thursday. The company has a debt-to-equity ratio of 0.91, a quick ratio of 1.27 and a current ratio of 1.61. The firm has a market capitalization of $ 136.82 billion, a price-to-earnings ratio of 12.50, a price-to-earnings-growth ratio of 0.67 and a beta of 1.20. QUALCOMM Incorporated has a fifty-two week low of $ 118.36 and a fifty-two week high of $ 193.58. The stock’s fifty day moving average is $ 135.63 and its two-hundred day moving average is $ 157.00.
QUALCOMM (NASDAQ: QCOM – Get Rating) last posted its earnings results on Wednesday, April 27th. The wireless technology company reported $ 2.86 earnings per share for the quarter, beating the consensus estimate of $ 2.67 by $ 0.19. The company had revenue of $ 11.16 billion for the quarter, compared to analyst estimates of $ 10.58 billion. QUALCOMM had a return on equity of 103.73% and a net margin of 28.42%. During the same quarter in the prior year, the company earned $ 1.59 earnings per share. As a group, sell-side analysts forecast that QUALCOMM Incorporated will post 11.12 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 23rd. Investors of record on Thursday, June 2nd will be paid a dividend of $ 0.75 per share. The ex-dividend date is Wednesday, June 1st. This represents a $ 3.00 dividend on an annualized basis and a dividend yield of 2.46%. This is a positive change from QUALCOMM’s previous quarterly dividend of $ 0.68. QUALCOMM’s dividend payout ratio (DPR) is presently 30.71%.
QCOM has been the subject of a number of research analyst reports. Wells Fargo & Company lowered their price target on QUALCOMM from $ 185.00 to $ 150.00 in a report on Thursday, April 28th. Tigress Financial boosted their price objective on QUALCOMM from $ 195.00 to $ 238.00 in a research note on Thursday, May 5th. JPMorgan Chase & Co. reduced their price objective on QUALCOMM from $ 240.00 to $ 205.00 in a research note on Tuesday, April 5th. Susquehanna Bancshares reduced their price objective on QUALCOMM from $ 190.00 to $ 165.00 in a research note on Thursday, April 28th. Finally, StockNews.com upgraded QUALCOMM from a “buy” rating to a “strong-buy” rating in a research note on Saturday, May 7th. Nine investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $ 196.48.
In related news, CAO Erin L. Polek sold 1,521 shares of the stock in a transaction on Monday, May 23rd. The stock was sold at an average price of $ 129.95, for a total transaction of $ 197,653.95. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.05% of the stock is owned by company insiders.
QUALCOMM Company Profile: (Get Rating)
QUALCOMM Incorporated engages in the development and commercialization of foundational technologies for the wireless industry worldwide. The company 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 3G / 4G / 5G and other technologies for use in wireless voice and data communications, networking, application processing, multimedia, and global positioning system products.
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