Vetr Inc. Lowers QUALCOMM Incorporated (QCOM) to Hold
Vetr cut shares of QUALCOMM Incorporated (NASDAQ:QCOM) from a buy rating to a hold rating in a research note issued to investors on Thursday. They currently have $69.52 price target on the wireless technology company’s stock.
Other equities analysts also recently issued research reports about the stock. BMO Capital Markets restated a market perform rating and issued a $55.00 price target on shares of QUALCOMM in a research note on Thursday, August 24th. William Blair restated a market perform rating on shares of QUALCOMM in a research note on Tuesday, September 5th. Wells Fargo & Company restated an outperform rating on shares of QUALCOMM in a research note on Monday, July 31st. Zacks Investment Research upgraded shares of QUALCOMM from a sell rating to a hold rating in a research note on Tuesday, August 8th. Finally, Sanford C. Bernstein restated a hold rating on shares of QUALCOMM in a research note on Monday, November 13th. Two research analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and twelve have assigned a buy rating to the company’s stock. The company has an average rating of Hold and an average price target of $65.63.
Shares of QUALCOMM (NASDAQ:QCOM) opened at $68.91 on Thursday. The stock has a market capitalization of $101,584.72, a P/E ratio of 18.23, a price-to-earnings-growth ratio of 1.93 and a beta of 1.26. The company has a debt-to-equity ratio of 0.63, a current ratio of 4.00 and a quick ratio of 3.81. QUALCOMM has a 12-month low of $48.92 and a 12-month high of $70.24.
QUALCOMM (NASDAQ:QCOM) last announced its earnings results on Wednesday, November 1st. The wireless technology company reported $0.92 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.70 by $0.22. The company had revenue of $5.96 billion for the quarter, compared to analyst estimates of $5.80 billion. QUALCOMM had a return on equity of 18.08% and a net margin of 11.06%. The firm’s quarterly revenue was down 3.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.28 earnings per share. equities research analysts expect that QUALCOMM will post 3.07 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Wednesday, November 29th will be given a $0.57 dividend. The ex-dividend date of this dividend is Tuesday, November 28th. This represents a $2.28 dividend on an annualized basis and a yield of 3.31%. QUALCOMM’s dividend payout ratio (DPR) is presently 138.18%.
In other news, EVP Michelle M. Sterling sold 7,840 shares of the company’s stock in a transaction dated 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 Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Matthew S. Grob sold 20,000 shares of the company’s stock in a transaction dated Monday, November 6th. The shares were sold at an average price of $60.44, for a total transaction of $1,208,800.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 28,553 shares of company stock valued at $1,768,108. 0.17% of the stock is owned by corporate insiders.
Several large investors have recently made changes to their positions in QCOM. Ronald Blue & Co. LLC raised its holdings in QUALCOMM by 0.5% during the second quarter. Ronald Blue & Co. LLC now owns 3,760 shares of the wireless technology company’s stock worth $208,000 after purchasing an additional 18 shares in the last quarter. Hollencrest Securities LLC raised its holdings in QUALCOMM by 0.9% during the second quarter. Hollencrest Securities LLC now owns 4,356 shares of the wireless technology company’s stock worth $241,000 after purchasing an additional 40 shares in the last quarter. FCA Corp TX raised its holdings in QUALCOMM by 0.9% during the first quarter. FCA Corp TX now owns 4,817 shares of the wireless technology company’s stock worth $276,000 after purchasing an additional 43 shares in the last quarter. Farmers Trust Co. raised its holdings in QUALCOMM by 0.9% during the second quarter. Farmers Trust Co. now owns 5,214 shares of the wireless technology company’s stock worth $288,000 after purchasing an additional 48 shares in the last quarter. Finally, Meridian Investment Counsel Inc. raised its holdings in QUALCOMM by 0.3% during the second quarter. Meridian Investment Counsel Inc. now owns 18,293 shares of the wireless technology company’s stock worth $1,010,000 after purchasing an additional 50 shares in the last quarter. 75.90% of the stock is owned by institutional investors and hedge funds.
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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.
To view Vetr’s full report, visit Vetr’s official website.
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