Calton & Associates Inc. reduced its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 23.4% during the 1st quarter, HoldingsChannel.com reports. The fund owned 4,604 shares of the wireless technology company’s stock after selling 1,403 shares during the quarter. Calton & Associates Inc.’s holdings in QUALCOMM were worth $611,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds have also recently made changes to their positions in the business. Xcel Wealth Management LLC lifted its holdings in QUALCOMM by 1.2% during the 4th quarter. Xcel Wealth Management LLC now owns 5,934 shares of the wireless technology company’s stock valued at $903,000 after purchasing an additional 70 shares during the last quarter. PDS Planning Inc boosted its holdings in shares of QUALCOMM by 3.9% during the 4th quarter. PDS Planning Inc now owns 1,867 shares of the wireless technology company’s stock worth $284,000 after buying an additional 70 shares during the period. Bedel Financial Consulting Inc. grew its stake in QUALCOMM by 19.5% in the 4th quarter. Bedel Financial Consulting Inc. now owns 459 shares of the wireless technology company’s stock valued at $70,000 after buying an additional 75 shares during the last quarter. Intrust Bank NA raised its holdings in QUALCOMM by 0.6% in the 4th quarter. Intrust Bank NA now owns 12,303 shares of the wireless technology company’s stock valued at $1,874,000 after acquiring an additional 76 shares during the period. Finally, Liberty Wealth Management LLC raised its holdings in QUALCOMM by 12.4% in the 4th quarter. Liberty Wealth Management LLC now owns 699 shares of the wireless technology company’s stock valued at $112,000 after acquiring an additional 77 shares during the period. Hedge funds and other institutional investors own 74.76% of the company’s stock.
A number of equities analysts have recently weighed in on QCOM shares. Canaccord Genuity increased their target price on QUALCOMM from $180.00 to $188.00 and gave the stock a “buy” rating in a research note on Wednesday, May 5th. Raymond James increased their price objective on QUALCOMM from $150.00 to $190.00 and gave the stock a “strong-buy” rating in a research report on Tuesday, January 19th. Royal Bank of Canada upped their price target 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. Mizuho raised their price target on shares of QUALCOMM from $170.00 to $175.00 and gave the stock a “buy” rating in a research report on Thursday, April 29th. Finally, Evercore ISI reissued an “in-line” rating and issued a $150.00 price objective (down previously from $195.00) on shares of QUALCOMM in a report on Monday, April 19th. Twelve research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $163.65.
QUALCOMM (NASDAQ:QCOM) last released its quarterly earnings data on Wednesday, April 28th. The wireless technology company reported $1.90 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.41 by $0.49. QUALCOMM had a return on equity of 90.74% and a net margin of 22.09%. The company had revenue of $7.93 billion for the quarter, compared to the consensus estimate of $7.62 billion. During the same quarter last year, the business posted $0.88 EPS. QUALCOMM’s revenue for the quarter was up 52.2% on a year-over-year basis. On average, analysts expect that QUALCOMM Incorporated will post 6.33 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, June 24th. Stockholders of record on Thursday, June 3rd will be issued a dividend of $0.68 per share. This is a boost from QUALCOMM’s previous quarterly dividend of $0.65. This represents a $2.72 annualized dividend and a dividend yield of 2.12%. The ex-dividend date of this dividend is Wednesday, June 2nd. QUALCOMM’s payout ratio is 77.84%.
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).
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