Regent Investment Management LLC cut its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 1.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 61,609 shares of the wireless technology company’s stock after selling 707 shares during the period. QUALCOMM accounts for 2.1% of Regent Investment Management LLC’s holdings, making the stock its 10th largest position. Regent Investment Management LLC’s holdings in QUALCOMM were worth $8,169,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in QCOM. Moser Wealth Advisors LLC raised its position in shares of QUALCOMM by 223.2% in the fourth 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 stake in QUALCOMM by 100.0% in the fourth quarter. Capital Directions Investment Advisors LLC now owns 200 shares of the wireless technology company’s stock valued at $30,000 after acquiring an additional 100 shares during the last quarter. RMR Wealth Builders bought a new position in QUALCOMM in the fourth quarter valued at approximately $30,000. Valley Brook Capital Group bought a new position in QUALCOMM in the fourth quarter valued at approximately $30,000. Finally, Addison Advisors LLC bought a new position in QUALCOMM in the fourth quarter valued at approximately $32,000. Institutional investors own 74.76% of the company’s stock.
A number of research analysts recently issued reports on QCOM shares. Royal Bank of Canada lifted their price objective on shares of QUALCOMM from $126.00 to $150.00 and gave the company a “sector perform” rating in a research note on Thursday, February 4th. Canaccord Genuity lifted their price objective on shares of QUALCOMM from $175.00 to $180.00 and gave the company a “buy” rating in a research note on Tuesday, January 5th. Piper Sandler raised shares of QUALCOMM from a “neutral” rating to an “overweight” rating and lifted their price objective for the company from $150.00 to $160.00 in a research note on Wednesday, March 10th. KeyCorp lifted their price objective on shares of QUALCOMM from $175.00 to $180.00 and gave the company an “overweight” rating in a research note on Wednesday, January 6th. Finally, Susquehanna cut shares of QUALCOMM from a “positive” rating to a “neutral” rating and decreased their target price for the stock from $175.00 to $155.00 in a research note on Monday. Thirteen investment analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $162.77.
QUALCOMM (NASDAQ:QCOM) last released its earnings results on Wednesday, February 3rd. The wireless technology company reported $2.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.10 by $0.07. The business had revenue of $8.24 billion for the quarter, compared to analyst estimates of $8.26 billion. QUALCOMM had a net margin of 22.09% and a return on equity of 90.74%. QUALCOMM’s revenue for the quarter was up 62.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.80 earnings per share. On average, equities analysts anticipate that QUALCOMM Incorporated will post 6.33 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, June 24th. Investors of record on Thursday, June 3rd will be issued a $0.68 dividend. This is a positive change from QUALCOMM’s previous quarterly dividend of $0.65. The ex-dividend date of this dividend is Wednesday, June 2nd. This represents a $2.72 annualized dividend and a yield of 2.01%. QUALCOMM’s payout ratio is presently 77.84%.
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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