Fortem Financial Group LLC lifted its stake in QUALCOMM, Inc. (NASDAQ:QCOM) by 43.0% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 5,865 shares of the wireless technology company’s stock after purchasing an additional 1,765 shares during the quarter. Fortem Financial Group LLC’s holdings in QUALCOMM were worth $535,000 at the end of the most recent reporting period.
Several other large investors also recently bought and sold shares of the stock. Geode Capital Management LLC increased its holdings in shares of QUALCOMM by 1.7% in the first quarter. Geode Capital Management LLC now owns 16,747,551 shares of the wireless technology company’s stock valued at $1,131,038,000 after purchasing an additional 287,438 shares during the last quarter. Capital World Investors increased its holdings in shares of QUALCOMM by 5.2% in the first quarter. Capital World Investors now owns 15,268,873 shares of the wireless technology company’s stock valued at $1,032,939,000 after purchasing an additional 751,290 shares during the last quarter. Norges Bank acquired a new stake in QUALCOMM during the fourth quarter worth $1,044,613,000. Clearbridge Investments LLC increased its stake in QUALCOMM by 6.0% during the first quarter. Clearbridge Investments LLC now owns 10,167,014 shares of the wireless technology company’s stock worth $687,798,000 after acquiring an additional 571,593 shares during the last quarter. Finally, Royal Bank of Canada increased its stake in QUALCOMM by 1.6% during the first quarter. Royal Bank of Canada now owns 8,278,895 shares of the wireless technology company’s stock worth $560,068,000 after acquiring an additional 127,006 shares during the last quarter. 74.50% of the stock is owned by hedge funds and other institutional investors.
Several equities research analysts have issued reports on QCOM shares. Wells Fargo & Co started coverage on QUALCOMM in a research note on Monday, May 4th. They set an “underweight” rating and a $70.00 target price for the company. Raymond James cut QUALCOMM to a “sell” rating in a research note on Friday, June 5th. Morgan Stanley raised QUALCOMM from an “equal weight” rating to an “overweight” rating and set a $102.00 target price for the company in a research note on Tuesday, June 16th. Citigroup cut their target price on QUALCOMM from $108.00 to $98.00 and set a “buy” rating for the company in a research note on Monday, March 30th. Finally, Bank of America raised their price target on QUALCOMM from $100.00 to $115.00 and gave the stock a “buy” rating in a research report on Wednesday, June 24th. Four equities research analysts have rated the stock with a sell rating, eight have given a hold rating and sixteen have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $93.57.
Shares of QCOM stock traded up $1.05 during trading hours on Tuesday, reaching $92.38. 6,564,787 shares of the stock were exchanged, compared to its average volume of 10,776,617. The business’s fifty day moving average is $87.80 and its two-hundred day moving average is $82.19. The company has a debt-to-equity ratio of 4.42, a current ratio of 1.57 and a quick ratio of 1.39. QUALCOMM, Inc. has a 12-month low of $58.00 and a 12-month high of $96.17. The firm has a market capitalization of $104.07 billion, a P/E ratio of 27.33, a P/E/G ratio of 1.71 and a beta of 1.34.
QUALCOMM (NASDAQ:QCOM) last released its earnings results on Wednesday, April 29th. The wireless technology company reported $0.88 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.79 by $0.09. QUALCOMM had a net margin of 16.36% and a return on equity of 69.92%. The firm had revenue of $5.21 billion for the quarter, compared to analyst estimates of $5.04 billion. During the same period in the prior year, the firm earned $0.77 earnings per share. The business’s quarterly revenue was up 6.6% compared to the same quarter last year. As a group, equities research analysts predict that QUALCOMM, Inc. will post 3.08 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Thursday, June 25th. Shareholders of record on Thursday, June 4th were paid a $0.65 dividend. This is a positive change from QUALCOMM’s previous quarterly dividend of $0.62. This represents a $2.60 annualized dividend and a yield of 2.81%. The ex-dividend date was Wednesday, June 3rd. QUALCOMM’s dividend payout ratio is currently 91.55%.
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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