Cedar Capital LLC acquired a new position in shares of QUALCOMM, Inc. (NASDAQ:QCOM) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 3,904 shares of the wireless technology company’s stock, valued at approximately $250,000.
Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. FMR LLC increased its holdings in shares of QUALCOMM by 16.5% in the second quarter. FMR LLC now owns 80,528,523 shares of the wireless technology company’s stock valued at $4,446,786,000 after purchasing an additional 11,387,347 shares in the last quarter. Capital International Investors increased its holdings in shares of QUALCOMM by 41.8% in the third quarter. Capital International Investors now owns 21,455,439 shares of the wireless technology company’s stock valued at $1,112,250,000 after purchasing an additional 6,322,645 shares in the last quarter. Veritas Asset Management LLP increased its holdings in shares of QUALCOMM by 68.4% in the third quarter. Veritas Asset Management LLP now owns 13,429,265 shares of the wireless technology company’s stock valued at $696,173,000 after purchasing an additional 5,453,631 shares in the last quarter. Maverick Capital Ltd. acquired a new stake in shares of QUALCOMM in the second quarter valued at approximately $210,548,000. Finally, Parnassus Investments CA increased its holdings in shares of QUALCOMM by 62.4% in the third quarter. Parnassus Investments CA now owns 7,809,000 shares of the wireless technology company’s stock valued at $404,819,000 after purchasing an additional 3,000,000 shares in the last quarter. 77.14% of the stock is owned by institutional investors.
A number of brokerages have issued reports on QCOM. BidaskClub cut shares of QUALCOMM from a “hold” rating to a “sell” rating in a research note on Wednesday, February 21st. Zacks Investment Research cut shares of QUALCOMM from a “hold” rating to a “sell” rating in a research report on Tuesday, February 6th. ValuEngine raised shares of QUALCOMM from a “hold” rating to a “buy” rating in a research report on Friday, February 2nd. KeyCorp boosted their price objective on shares of QUALCOMM from $68.00 to $73.00 and gave the company a “buy” rating in a research report on Thursday, February 1st. Finally, Northland Securities reaffirmed a “buy” rating and issued a $75.00 price objective on shares of QUALCOMM in a research report on Thursday, February 1st. Two research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and fourteen have issued a buy rating to the company. QUALCOMM currently has an average rating of “Hold” and a consensus target price of $68.25.
QUALCOMM (NASDAQ:QCOM) last released its quarterly earnings data on Wednesday, January 31st. The wireless technology company reported $0.98 earnings per share for the quarter, topping the consensus estimate of $0.91 by $0.07. The company had revenue of $6.10 billion for the quarter, compared to analyst estimates of $5.93 billion. QUALCOMM had a negative net margin of 18.65% and a positive return on equity of 18.10%. QUALCOMM’s revenue for the quarter was up 1.7% compared to the same quarter last year. During the same period in the previous year, the business earned $1.19 EPS. research analysts predict that QUALCOMM, Inc. will post 2.8 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 21st. Stockholders of record on Wednesday, February 28th will be paid a dividend of $0.57 per share. The ex-dividend date is Tuesday, February 27th. This represents a $2.28 annualized dividend and a dividend yield of 3.62%. QUALCOMM’s dividend payout ratio is presently -93.06%.
In related news, EVP Matthew S. Grob sold 43,000 shares of QUALCOMM stock in a transaction dated Tuesday, January 9th. The shares were sold at an average price of $65.35, for a total transaction of $2,810,050.00. Following the completion of the sale, the executive vice president now owns 43,000 shares of the company’s stock, valued at approximately $2,810,050. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Alexander H. Rogers sold 713 shares of QUALCOMM stock in a transaction dated Monday, January 29th. The stock was sold at an average price of $68.20, for a total transaction of $48,626.60. Following the sale, the executive vice president now directly owns 10,403 shares of the company’s stock, valued at approximately $709,484.60. The disclosure for this sale can be found here. Insiders have sold a total of 45,812 shares of company stock worth $2,996,776 over the last 90 days. 0.17% of the stock is owned by company insiders.
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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.
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