Financial Counselors Inc. increased its position in QUALCOMM, Inc. (NASDAQ:QCOM) by 0.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 141,059 shares of the wireless technology company’s stock after buying an additional 634 shares during the quarter. Financial Counselors Inc.’s holdings in QUALCOMM were worth $8,028,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds and other institutional investors have also recently modified their holdings of QCOM. Bank of New York Mellon Corp increased its stake in shares of QUALCOMM by 1,897,041.6% in the third quarter. Bank of New York Mellon Corp now owns 20,830,615 shares of the wireless technology company’s stock worth $1,500,428,000 after buying an additional 20,829,517 shares during the period. Morgan Stanley increased its stake in shares of QUALCOMM by 163.2% in the third quarter. Morgan Stanley now owns 18,891,278 shares of the wireless technology company’s stock worth $1,360,740,000 after buying an additional 11,713,988 shares during the period. Point72 Asset Management L.P. purchased a new position in shares of QUALCOMM in the third quarter worth $357,926,000. Capital World Investors increased its position in QUALCOMM by 33.5% during the 3rd quarter. Capital World Investors now owns 18,580,637 shares of the wireless technology company’s stock valued at $1,338,363,000 after purchasing an additional 4,662,437 shares during the period. Finally, Clearbridge Investments LLC increased its position in QUALCOMM by 28.8% during the 3rd quarter. Clearbridge Investments LLC now owns 9,192,851 shares of the wireless technology company’s stock valued at $662,161,000 after purchasing an additional 2,058,096 shares during the period. 92.15% of the stock is currently owned by institutional investors.
QCOM has been the topic of a number of research analyst reports. Canaccord Genuity reduced their price objective on shares of QUALCOMM from $86.00 to $75.00 and set a “buy” rating on the stock in a research report on Thursday, November 8th. BidaskClub raised shares of QUALCOMM from a “hold” rating to a “buy” rating in a research report on Thursday, December 20th. Barclays reissued a “buy” rating and set a $70.00 price objective on shares of QUALCOMM in a research report on Friday, January 18th. Mizuho reduced their price objective on shares of QUALCOMM from $66.00 to $62.00 and set a “buy” rating on the stock in a research report on Thursday, January 31st. Finally, Raymond James set a $65.00 price objective on shares of QUALCOMM and gave the company a “buy” rating in a research report on Saturday, February 2nd. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating and twelve have assigned a buy rating to the stock. QUALCOMM presently has a consensus rating of “Hold” and an average price target of $66.25.
Shares of QCOM stock opened at $50.83 on Tuesday. QUALCOMM, Inc. has a 12 month low of $48.56 and a 12 month high of $76.50. The firm has a market cap of $60.87 billion, a PE ratio of 15.93, a price-to-earnings-growth ratio of 1.58 and a beta of 1.17. The company has a current ratio of 1.54, a quick ratio of 1.38 and a debt-to-equity ratio of 4.25.
QUALCOMM (NASDAQ:QCOM) last announced its earnings results on Wednesday, January 30th. The wireless technology company reported $1.20 EPS for the quarter, beating the Zacks’ consensus estimate of $1.09 by $0.11. QUALCOMM had a net margin of 10.03% and a return on equity of 36.66%. The firm had revenue of $4.80 billion for the quarter, compared to analysts’ expectations of $4.89 billion. During the same quarter in the previous year, the business posted $0.98 EPS. The company’s quarterly revenue was down 21.3% on a year-over-year basis. As a group, analysts expect that QUALCOMM, Inc. will post 3.23 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 28th. Stockholders of record on Thursday, March 7th will be issued a dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a dividend yield of 4.88%. The ex-dividend date is Wednesday, March 6th. QUALCOMM’s dividend payout ratio (DPR) is presently 77.74%.
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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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