Beaumont Financial Partners LLC reduced its holdings in shares of QUALCOMM, Inc. (NASDAQ:QCOM) by 2.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 17,176 shares of the wireless technology company’s stock after selling 522 shares during the period. Beaumont Financial Partners LLC’s holdings in QUALCOMM were worth $1,515,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also modified their holdings of the company. Samalin Investment Counsel LLC purchased a new position in QUALCOMM during the 4th quarter valued at about $27,000. Peddock Capital Advisors LLC bought a new stake in QUALCOMM during the 4th quarter valued at about $30,000. Howard Wealth Management LLC bought a new stake in QUALCOMM during the 4th quarter valued at about $31,000. IndexIQ Advisors LLC bought a new stake in QUALCOMM during the 4th quarter valued at about $37,000. Finally, Mechanics Bank Trust Department bought a new stake in QUALCOMM during the 3rd quarter valued at about $34,000. 77.48% of the stock is owned by institutional investors.
Shares of QCOM stock opened at $90.03 on Friday. The company has a 50 day moving average price of $89.52 and a 200-day moving average price of $82.26. QUALCOMM, Inc. has a 52 week low of $51.09 and a 52 week high of $96.17. The firm has a market capitalization of $101.27 billion, a PE ratio of 25.58, a P/E/G ratio of 1.23 and a beta of 1.56. The company has a quick ratio of 1.61, a current ratio of 1.76 and a debt-to-equity ratio of 2.98.
QUALCOMM (NASDAQ:QCOM) last announced its quarterly earnings results on Wednesday, February 5th. The wireless technology company reported $0.99 EPS for the quarter, topping analysts’ consensus estimates of $0.85 by $0.14. QUALCOMM had a net margin of 17.31% and a return on equity of 66.54%. The firm had revenue of $5.08 billion during the quarter, compared to analyst estimates of $4.86 billion. During the same period in the previous year, the business posted $1.20 earnings per share. The business’s revenue for the quarter was up 4.9% on a year-over-year basis. Analysts anticipate that QUALCOMM, Inc. will post 3.68 earnings per share for the current year.
The business 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 $0.62 dividend. The ex-dividend date of this dividend is Wednesday, March 4th. This represents a $2.48 dividend on an annualized basis and a dividend yield of 2.75%. QUALCOMM’s dividend payout ratio is presently 87.32%.
A number of analysts have weighed in on the stock. Daiwa Capital Markets upgraded shares of QUALCOMM from a “neutral” rating to an “outperform” rating in a research note on Tuesday. Argus raised their price objective on shares of QUALCOMM from $95.00 to $110.00 and gave the company a “buy” rating in a research note on Friday, November 8th. JPMorgan Chase & Co. reduced their price objective on shares of QUALCOMM from $108.00 to $105.00 and set an “overweight” rating for the company in a research note on Thursday, February 6th. Morgan Stanley raised their price objective on shares of QUALCOMM from $90.00 to $92.00 and gave the company an “equal weight” rating in a research note on Thursday, February 6th. Finally, BidaskClub lowered shares of QUALCOMM from a “hold” rating to a “sell” rating in a research note on Saturday, February 1st. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. QUALCOMM has a consensus rating of “Buy” and a consensus price target of $94.38.
In related news, CFO Akash J. Palkhiwala sold 5,237 shares of the business’s stock in a transaction that occurred on Tuesday, January 7th. The shares were sold at an average price of $89.00, for a total transaction of $466,093.00. Following the completion of the sale, the chief financial officer now directly owns 19,018 shares in the company, valued at $1,692,602. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Alexander H. Rogers sold 735 shares of the business’s stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $95.37, for a total transaction of $70,096.95. Following the sale, the executive vice president now owns 14,247 shares of the company’s stock, valued at $1,358,736.39. The disclosure for this sale can be found here. Insiders sold 109,458 shares of company stock valued at $9,349,683 over the last quarter. Company insiders own 0.12% of the company’s stock.
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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