Creative Planning decreased its position in shares of QUALCOMM, Inc. (NASDAQ:QCOM) by 5.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 172,007 shares of the wireless technology company’s stock after selling 9,328 shares during the period. Creative Planning’s holdings in QUALCOMM were worth $11,012,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors have also recently bought and sold shares of QCOM. Sicart Associates LLC acquired a new stake in shares of QUALCOMM in the fourth quarter valued at approximately $532,000. National Pension Service increased its holdings in shares of QUALCOMM by 5.2% in the fourth quarter. National Pension Service now owns 1,274,443 shares of the wireless technology company’s stock valued at $81,590,000 after purchasing an additional 62,624 shares in the last quarter. RNC Capital Management LLC increased its holdings in shares of QUALCOMM by 1.8% in the fourth quarter. RNC Capital Management LLC now owns 668,424 shares of the wireless technology company’s stock valued at $42,793,000 after purchasing an additional 11,595 shares in the last quarter. Asset Dedication LLC increased its holdings in shares of QUALCOMM by 95.8% in the fourth quarter. Asset Dedication LLC now owns 7,820 shares of the wireless technology company’s stock valued at $500,000 after purchasing an additional 3,826 shares in the last quarter. Finally, E&G Advisors LP acquired a new stake in shares of QUALCOMM in the fourth quarter valued at approximately $215,000. 75.68% of the stock is owned by institutional investors.
A number of brokerages recently weighed in on QCOM. KeyCorp raised their price target on shares of QUALCOMM from $68.00 to $73.00 and gave the company a “buy” rating in a report on Thursday, February 1st. Canaccord Genuity raised their price target on shares of QUALCOMM from $83.00 to $86.00 and gave the company a “buy” rating in a report on Wednesday, January 17th. Vetr lowered shares of QUALCOMM from a “strong-buy” rating to a “buy” rating and set a $76.42 price target for the company. in a report on Thursday, February 1st. ValuEngine raised shares of QUALCOMM from a “hold” rating to a “buy” rating in a report on Friday, February 2nd. Finally, Sanford C. Bernstein reissued a “hold” rating on shares of QUALCOMM in a report on Monday, November 13th. One research analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and fourteen have given a buy rating to the company’s stock. QUALCOMM has a consensus rating of “Hold” and an average price target of $68.25.
In related news, EVP Michelle M. Sterling sold 7,840 shares of the business’s stock in a transaction on Tuesday, November 21st. The shares were sold at an average price of $66.56, for a total value of $521,830.40. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Matthew S. Grob sold 43,000 shares of the business’s stock in a transaction on Tuesday, January 9th. The shares were sold at an average price of $65.35, for a total transaction of $2,810,050.00. Following the completion of the sale, the executive vice president now directly owns 43,000 shares in the company, valued at $2,810,050. The disclosure for this sale can be found here. Over the last three months, insiders have sold 53,346 shares of company stock worth $3,499,504. Insiders own 0.17% of the company’s stock.
QUALCOMM, Inc. (QCOM) opened at $65.28 on Friday. The firm has a market cap of $96,640.00, a price-to-earnings ratio of -26.64, a PEG ratio of 2.04 and a beta of 1.38. QUALCOMM, Inc. has a 52-week low of $48.92 and a 52-week high of $69.28. The company has a current ratio of 3.41, a quick ratio of 3.25 and a debt-to-equity ratio of 0.81.
QUALCOMM (NASDAQ:QCOM) last announced its quarterly earnings results on Wednesday, January 31st. The wireless technology company reported $0.98 earnings per share for the quarter, topping analysts’ consensus estimates of $0.91 by $0.07. The company had revenue of $6.10 billion for the quarter, compared to analysts’ expectations of $5.93 billion. QUALCOMM had a negative net margin of 18.65% and a positive return on equity of 18.10%. The business’s quarterly revenue was up 1.7% compared to the same quarter last year. During the same period last year, the firm posted $1.19 earnings per share. research analysts anticipate that QUALCOMM, Inc. will post 2.8 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 21st. Stockholders of record on Wednesday, February 28th will be given a dividend of $0.57 per share. The ex-dividend date is Tuesday, February 27th. This represents a $2.28 dividend on an annualized basis and a dividend yield of 3.49%. QUALCOMM’s dividend payout ratio is -93.06%.
QUALCOMM Company Profile
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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