Princeton Portfolio Strategies Group LLC grew its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 22.6% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 35,215 shares of the wireless technology company’s stock after acquiring an additional 6,492 shares during the period. Princeton Portfolio Strategies Group LLC’s holdings in QUALCOMM were worth $1,945,000 at the end of the most recent quarter.
Other hedge funds also recently made changes to their positions in the company. Bluefin Trading LLC bought a new position in shares of QUALCOMM in the 2nd quarter worth about $615,000. Westside Investment Management Inc. lifted its position in shares of QUALCOMM by 34.2% in the 2nd quarter. Westside Investment Management Inc. now owns 17,996 shares of the wireless technology company’s stock worth $1,001,000 after buying an additional 4,588 shares during the last quarter. TT International lifted its position in shares of QUALCOMM by 2.9% in the 2nd quarter. TT International now owns 103,132 shares of the wireless technology company’s stock worth $5,694,000 after buying an additional 2,870 shares during the last quarter. Sather Financial Group Inc lifted its position in shares of QUALCOMM by 7.4% in the 2nd quarter. Sather Financial Group Inc now owns 210,317 shares of the wireless technology company’s stock worth $11,614,000 after buying an additional 14,415 shares during the last quarter. Finally, Gyroscope Capital Management Group LLC lifted its position in shares of QUALCOMM by 7.6% in the 2nd quarter. Gyroscope Capital Management Group LLC now owns 97,554 shares of the wireless technology company’s stock worth $5,387,000 after buying an additional 6,886 shares during the last quarter. 76.66% of the stock is owned by institutional investors.
A number of research firms have recently issued reports on QCOM. Vetr upgraded shares of QUALCOMM from a “hold” rating to a “buy” rating and set a $75.00 price target on the stock in a research report on Monday, November 27th. Stifel Nicolaus downgraded shares of QUALCOMM from a “buy” rating to a “hold” rating and lifted their price objective for the company from $65.00 to $75.00 in a research report on Tuesday, November 28th. Sanford C. Bernstein reiterated a “hold” rating on shares of QUALCOMM in a research report on Monday, November 13th. Royal Bank Of Canada lifted their price objective on shares of QUALCOMM from $70.00 to $77.00 and gave the company an “outperform” rating in a research report on Tuesday, November 14th. Finally, ValuEngine upgraded shares of QUALCOMM from a “hold” rating to a “buy” rating in a research report on Friday, December 1st. One analyst has rated the stock with a sell rating, nineteen have assigned a hold rating and twelve have issued a buy rating to the stock. QUALCOMM presently has an average rating of “Hold” and a consensus price target of $66.02.
QUALCOMM Incorporated (NASDAQ:QCOM) opened at $64.98 on Thursday. The stock has a market cap of $95,363.74, a P/E ratio of 17.11, a PEG ratio of 1.81 and a beta of 1.39. The company has a quick ratio of 3.81, a current ratio of 4.00 and a debt-to-equity ratio of 0.63. QUALCOMM Incorporated has a 52 week low of $48.92 and a 52 week high of $70.24.
QUALCOMM (NASDAQ:QCOM) last announced its quarterly earnings data on Wednesday, November 1st. The wireless technology company reported $0.92 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.70 by $0.22. The company had revenue of $5.96 billion for the quarter, compared to analysts’ expectations of $5.80 billion. QUALCOMM had a net margin of 11.06% and a return on equity of 18.08%. The business’s revenue was down 3.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.28 EPS. research analysts expect that QUALCOMM Incorporated will post 3.07 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Wednesday, November 29th will be paid a $0.57 dividend. The ex-dividend date is Tuesday, November 28th. This represents a $2.28 annualized dividend and a dividend yield of 3.51%. QUALCOMM’s dividend payout ratio is currently 138.18%.
In other news, EVP Michelle M. Sterling sold 7,840 shares of QUALCOMM stock in a transaction that occurred on Tuesday, November 21st. The shares were sold at an average price of $66.56, for a total value of $521,830.40. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Alexander H. Rogers sold 874 shares of QUALCOMM stock in a transaction that occurred on Monday, November 27th. The stock was sold at an average price of $68.52, for a total transaction of $59,886.48. Following the completion of the transaction, the executive vice president now directly owns 12,035 shares in the company, valued at approximately $824,638.20. The disclosure for this sale can be found here. Insiders sold a total of 29,427 shares of company stock worth $1,827,995 in the last ninety days. Corporate insiders own 0.17% of the company’s stock.
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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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