Quantitative Investment Management LLC bought a new position in shares of QUALCOMM, Inc. (NASDAQ:QCOM) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 258,200 shares of the wireless technology company’s stock, valued at approximately $16,529,000.
A number of other institutional investors have also bought and sold shares of QCOM. Burke & Herbert Bank & Trust Co. lifted its stake in shares of QUALCOMM by 7.2% in the fourth quarter. Burke & Herbert Bank & Trust Co. now owns 11,458 shares of the wireless technology company’s stock valued at $734,000 after buying an additional 774 shares during the period. Dorsey & Whitney Trust CO LLC lifted its stake in shares of QUALCOMM by 1.8% in the fourth quarter. Dorsey & Whitney Trust CO LLC now owns 47,706 shares of the wireless technology company’s stock valued at $3,055,000 after buying an additional 840 shares during the period. IFM Investors Pty Ltd lifted its stake in shares of QUALCOMM by 2.1% in the third quarter. IFM Investors Pty Ltd now owns 41,146 shares of the wireless technology company’s stock valued at $2,133,000 after buying an additional 843 shares during the period. Garland Capital Management Inc. lifted its stake in shares of QUALCOMM by 1.1% in the third quarter. Garland Capital Management Inc. now owns 84,200 shares of the wireless technology company’s stock valued at $4,365,000 after buying an additional 875 shares during the period. Finally, Marco Investment Management LLC lifted its stake in shares of QUALCOMM by 0.4% in the third quarter. Marco Investment Management LLC now owns 217,546 shares of the wireless technology company’s stock valued at $11,278,000 after buying an additional 888 shares during the period. 78.00% of the stock is currently owned by hedge funds and other institutional investors.
Shares of QUALCOMM stock opened at $55.73 on Friday. The company has a debt-to-equity ratio of 0.81, a current ratio of 3.41 and a quick ratio of 3.25. The company has a market capitalization of $81,434.77, a P/E ratio of 14.74, a P/E/G ratio of 1.71 and a beta of 1.44. QUALCOMM, Inc. has a fifty-two week low of $48.92 and a fifty-two week high of $69.28.
QUALCOMM (NASDAQ:QCOM) last issued its quarterly earnings results on Wednesday, January 31st. The wireless technology company reported $0.98 earnings per share for the quarter, beating analysts’ consensus estimates of $0.91 by $0.07. The business had revenue of $6.10 billion during the quarter, compared to analyst estimates of $5.93 billion. QUALCOMM had a negative net margin of 18.65% and a positive return on equity of 18.10%. QUALCOMM’s revenue for the quarter was up 1.7% compared to the same quarter last year. During the same quarter last year, the business posted $1.19 earnings per share. equities analysts predict that QUALCOMM, Inc. will post 2.8 earnings per share for the current fiscal year.
Several equities research analysts recently weighed in on the stock. Citigroup assumed coverage on shares of QUALCOMM in a research note on Thursday. They issued a “neutral” rating and a $58.00 target price for the company. UBS assumed coverage on shares of QUALCOMM in a research note on Thursday, April 5th. They issued a “neutral” rating and a $56.00 target price for the company. BidaskClub cut shares of QUALCOMM from a “sell” rating to a “strong sell” rating in a research note on Thursday, March 22nd. Morgan Stanley began coverage on shares of QUALCOMM in a research report on Monday, March 19th. They issued an “underweight” rating and a $55.00 price target for the company. Finally, Wells Fargo began coverage on shares of QUALCOMM in a research report on Friday, March 16th. They issued a “market perform” rating for the company. Three equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and thirteen have assigned a buy rating to the stock. QUALCOMM has an average rating of “Hold” and a consensus target price of $67.82.
In related news, EVP James H. Thompson sold 50,126 shares of the firm’s stock in a transaction that occurred on Friday, March 9th. The shares were sold at an average price of $62.66, for a total value of $3,140,895.16. Following the completion of the sale, the executive vice president now owns 136,482 shares of the company’s stock, valued at $8,551,962.12. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Alexander H. Rogers sold 713 shares of the firm’s stock in a transaction that occurred on Monday, January 29th. The shares were sold at an average price of $68.20, for a total transaction of $48,626.60. Following the completion of the sale, the executive vice president now directly owns 10,403 shares of the company’s stock, valued at approximately $709,484.60. The disclosure for this sale can be found here. In the last three months, insiders sold 52,682 shares of company stock valued at $3,306,030. 0.17% of the stock is currently owned by company insiders.
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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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