Breiter Capital Management Inc. reduced its stake in QUALCOMM, Inc. (NASDAQ:QCOM) by 1.2% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 11,488 shares of the wireless technology company’s stock after selling 141 shares during the quarter. Breiter Capital Management Inc.’s holdings in QUALCOMM were worth $1,014,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds also recently bought and sold shares of the company. Bernardo Wealth Planning LLC acquired a new position in shares of QUALCOMM during the second quarter worth approximately $223,000. Victory Capital Management Inc. lifted its holdings in shares of QUALCOMM by 40.0% during the second quarter. Victory Capital Management Inc. now owns 24,821 shares of the wireless technology company’s stock worth $1,888,000 after buying an additional 7,090 shares during the last quarter. Centaurus Financial Inc. lifted its holdings in shares of QUALCOMM by 1,096.5% during the second quarter. Centaurus Financial Inc. now owns 3,745 shares of the wireless technology company’s stock worth $285,000 after buying an additional 3,432 shares during the last quarter. Integrated Wealth Concepts LLC acquired a new position in shares of QUALCOMM during the second quarter worth approximately $217,000. Finally, Covington Capital Management lifted its holdings in shares of QUALCOMM by 1.4% during the second quarter. Covington Capital Management now owns 61,538 shares of the wireless technology company’s stock worth $4,681,000 after buying an additional 872 shares during the last quarter. Hedge funds and other institutional investors own 77.38% of the company’s stock.
Shares of QCOM stock opened at $92.00 on Friday. The stock’s fifty day moving average is $88.97 and its 200-day moving average is $80.98. The company has a debt-to-equity ratio of 2.74, a quick ratio of 1.72 and a current ratio of 1.88. The stock has a market capitalization of $106.16 billion, a PE ratio of 25.63, a PEG ratio of 1.91 and a beta of 1.62. QUALCOMM, Inc. has a 52 week low of $49.10 and a 52 week high of $96.17.
The company also recently declared a quarterly dividend, which will be paid on Thursday, March 26th. Stockholders of record on Thursday, March 5th will be paid a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a dividend yield of 2.70%. The ex-dividend date is Wednesday, March 4th. QUALCOMM’s dividend payout ratio (DPR) is presently 87.32%.
In other news, CAO Erin L. Polek sold 3,190 shares of the company’s stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $84.65, for a total transaction of $270,033.50. Following the transaction, the chief accounting officer now owns 1,040 shares of the company’s stock, valued at $88,036. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Akash J. Palkhiwala sold 5,237 shares of the company’s stock in a transaction on Tuesday, January 7th. The shares were sold at an average price of $89.00, for a total value of $466,093.00. Following the transaction, the chief financial officer now directly owns 19,018 shares in the company, valued at approximately $1,692,602. The disclosure for this sale can be found here. Insiders have sold 109,458 shares of company stock worth $9,349,683 in the last ninety days. 0.11% of the stock is currently owned by insiders.
QCOM has been the subject of a number of research analyst reports. Rosenblatt Securities reiterated a “buy” rating and set a $95.00 price target on shares of QUALCOMM in a report on Thursday, November 7th. ValuEngine cut QUALCOMM from a “buy” rating to a “hold” rating in a research report on Monday, October 7th. Morgan Stanley cut QUALCOMM from an “overweight” rating to an “equal” rating and upped their price target for the company from $89.00 to $90.00 in a research report on Monday, November 11th. They noted that the move was a valuation call. Argus upped their price target on QUALCOMM from $95.00 to $110.00 and gave the company a “buy” rating in a research report on Friday, November 8th. Finally, Canaccord Genuity upped their price target on QUALCOMM from $101.00 to $115.00 and gave the company a “buy” rating in a research report on Wednesday, January 15th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $88.84.
QUALCOMM Company Profile
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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