Parsons Capital Management Inc. RI boosted its holdings in QUALCOMM Incorporated (NASDAQ:QCOM) by 1.2% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 7,343 shares of the wireless technology company’s stock after buying an additional 86 shares during the quarter. Parsons Capital Management Inc. RI’s holdings in QUALCOMM were worth $974,000 at the end of the most recent quarter.
A number of other large investors have also bought and sold shares of QCOM. Norges Bank purchased a new position in QUALCOMM in the fourth quarter valued at $1,638,769,000. BlackRock Inc. increased its holdings in QUALCOMM by 5.4% in the fourth quarter. BlackRock Inc. now owns 79,999,443 shares of the wireless technology company’s stock valued at $12,187,113,000 after buying an additional 4,097,822 shares during the last quarter. Alliancebernstein L.P. increased its holdings in QUALCOMM by 31.2% in the fourth quarter. Alliancebernstein L.P. now owns 13,277,733 shares of the wireless technology company’s stock valued at $2,022,730,000 after buying an additional 3,158,229 shares during the last quarter. FMR LLC increased its holdings in QUALCOMM by 3.4% in the fourth quarter. FMR LLC now owns 56,956,778 shares of the wireless technology company’s stock valued at $8,676,796,000 after buying an additional 1,855,061 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund increased its holdings in QUALCOMM by 2,766.4% in the fourth quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,401,954 shares of the wireless technology company’s stock valued at $213,574,000 after buying an additional 1,353,044 shares during the last quarter. 74.76% of the stock is currently owned by hedge funds and other institutional investors.
QCOM stock opened at $137.43 on Tuesday. The firm has a 50 day moving average of $135.51 and a 200-day moving average of $142.67. QUALCOMM Incorporated has a 12-month low of $74.09 and a 12-month high of $167.94. The company has a current ratio of 2.14, a quick ratio of 1.84 and a debt-to-equity ratio of 2.51. The company has a market cap of $156.12 billion, a price-to-earnings ratio of 30.34, a PEG ratio of 1.27 and a beta of 1.34.
QUALCOMM (NASDAQ:QCOM) last posted its quarterly earnings results on Wednesday, April 28th. The wireless technology company reported $1.90 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.41 by $0.49. QUALCOMM had a net margin of 22.09% and a return on equity of 90.74%. The company had revenue of $7.93 billion during the quarter, compared to the consensus estimate of $7.62 billion. During the same period last year, the firm earned $0.88 EPS. The company’s revenue for the quarter was up 52.2% on a year-over-year basis. Sell-side analysts forecast that QUALCOMM Incorporated will post 6.33 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, June 24th. Stockholders of record on Thursday, June 3rd will be given a dividend of $0.68 per share. This represents a $2.72 dividend on an annualized basis and a dividend yield of 1.98%. This is an increase from QUALCOMM’s previous quarterly dividend of $0.65. The ex-dividend date is Wednesday, June 2nd. QUALCOMM’s dividend payout ratio (DPR) is presently 77.84%.
QCOM has been the topic of several recent analyst reports. Citigroup dropped their target price on QUALCOMM from $165.00 to $154.00 in a report on Thursday, April 29th. Royal Bank of Canada raised their price objective on QUALCOMM from $126.00 to $150.00 and gave the stock a “sector perform” rating in a report on Thursday, February 4th. KeyCorp raised their price objective on QUALCOMM from $175.00 to $180.00 and gave the stock an “overweight” rating in a report on Wednesday, January 6th. Raymond James raised 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. Finally, JPMorgan Chase & Co. dropped their price objective on QUALCOMM from $185.00 to $170.00 and set an “overweight” rating on the stock in a report on Wednesday, March 10th. Twelve investment 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. The company currently has a consensus rating of “Buy” and a consensus target price of $163.65.
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).
Further Reading: Golden Cross
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