Wade G W & Inc. boosted its position in QUALCOMM Incorporated (NASDAQ:QCOM) by 3.9% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 148,604 shares of the wireless technology company’s stock after buying an additional 5,525 shares during the period. QUALCOMM makes up approximately 1.0% of Wade G W & Inc.’s portfolio, making the stock its 28th biggest position. Wade G W & Inc.’s holdings in QUALCOMM were worth $19,703,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently modified their holdings of QCOM. Wealthcare Capital Management LLC bought a new stake in QUALCOMM in the 1st quarter valued at about $26,000. Moser Wealth Advisors LLC increased its position in QUALCOMM by 223.2% in the 4th quarter. Moser Wealth Advisors LLC now owns 181 shares of the wireless technology company’s stock valued at $28,000 after buying an additional 125 shares in the last quarter. Capital Directions Investment Advisors LLC increased its holdings in QUALCOMM by 100.0% during the 4th quarter. Capital Directions Investment Advisors LLC now owns 200 shares of the wireless technology company’s stock worth $30,000 after purchasing an additional 100 shares in the last quarter. RMR Wealth Builders bought a new stake in QUALCOMM during the 4th quarter worth approximately $30,000. Finally, Valley Brook Capital Group bought a new stake in QUALCOMM during the 4th quarter worth approximately $30,000. 74.76% of the stock is owned by institutional investors and hedge funds.
A number of brokerages have commented on QCOM. Susquehanna Bancshares lowered QUALCOMM to a “neutral” rating and decreased their price objective for the stock from $175.00 to $155.00 in a report on Monday, April 19th. Raymond James boosted their price objective on QUALCOMM from $150.00 to $190.00 and gave the stock a “strong-buy” rating in a report on Tuesday, January 19th. Citigroup decreased their price objective on QUALCOMM from $165.00 to $154.00 in a report on Thursday, April 29th. Susquehanna restated a “neutral” rating and issued a $155.00 target price (down previously from $175.00) on shares of QUALCOMM in a research note on Monday, April 26th. Finally, JPMorgan Chase & Co. cut their target price on QUALCOMM from $185.00 to $170.00 and set an “overweight” rating on the stock in a research note on Wednesday, March 10th. Twelve research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $163.65.
QUALCOMM (NASDAQ:QCOM) last released its quarterly earnings results on Wednesday, April 28th. The wireless technology company reported $1.90 earnings per share for the quarter, topping the consensus estimate of $1.41 by $0.49. The firm had revenue of $7.93 billion for the quarter, compared to analysts’ expectations of $7.62 billion. QUALCOMM had a net margin of 22.09% and a return on equity of 90.74%. The business’s quarterly revenue was up 52.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.88 earnings per share. As a group, analysts predict that QUALCOMM Incorporated will post 6.33 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, June 24th. Stockholders of record on Thursday, June 3rd will be issued a $0.68 dividend. The ex-dividend date is Wednesday, June 2nd. This represents a $2.72 annualized dividend and a dividend yield of 2.11%. This is a boost from QUALCOMM’s previous quarterly dividend of $0.65. QUALCOMM’s dividend payout ratio is presently 77.84%.
QUALCOMM Company Profile
QUALCOMM Incorporated engages in the development and commercialization of foundational technologies and products are used in mobile devices and other wireless products, including network equipment, broadband gateway equipment, consumer electronic devices, and other connected devices worldwide. It operates through three segments: Qualcomm CDMA Technologies (QCT); Qualcomm Technology Licensing (QTL); and Qualcomm Strategic Initiatives (QSI).
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