Janus Henderson Group PLC grew its position in shares of QUALCOMM, Inc. (NASDAQ:QCOM) by 238.9% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 4,558,447 shares of the wireless technology company’s stock after acquiring an additional 3,213,243 shares during the period. Janus Henderson Group PLC owned about 0.40% of QUALCOMM worth $402,193,000 at the end of the most recent quarter.
Other hedge funds have also recently bought and sold shares of the company. Samalin Investment Counsel LLC purchased a new stake in shares of QUALCOMM in the 4th quarter worth approximately $27,000. Peddock Capital Advisors LLC purchased a new stake in shares of QUALCOMM in the 4th quarter worth approximately $30,000. AlphaMark Advisors LLC purchased a new stake in shares of QUALCOMM in the 4th quarter worth approximately $31,000. BerganKDV Wealth Management LLC purchased a new stake in shares of QUALCOMM in the 4th quarter worth approximately $31,000. Finally, Howard Wealth Management LLC purchased a new stake in shares of QUALCOMM in the 4th quarter worth approximately $31,000. Hedge funds and other institutional investors own 77.13% of the company’s stock.
In related news, CFO Akash J. Palkhiwala sold 3,590 shares of the firm’s stock in a transaction on Friday, January 17th. The stock was sold at an average price of $94.00, for a total value of $337,460.00. Following the transaction, the chief financial officer now directly owns 15,428 shares of the company’s stock, valued at approximately $1,450,232. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Alexander H. Rogers sold 735 shares of the firm’s stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $95.37, for a total value of $70,096.95. Following the completion of the transaction, the executive vice president now directly owns 14,247 shares in the company, valued at $1,358,736.39. The disclosure for this sale can be found here. Insiders have sold a total of 9,562 shares of company stock worth $873,650 over the last three months. Insiders own 0.12% of the company’s stock.
Several analysts recently weighed in on QCOM shares. UBS Group upped their price target on QUALCOMM from $87.00 to $91.00 and gave the stock a “neutral” rating in a research note on Thursday, February 6th. Susquehanna Bancshares increased their target price on QUALCOMM from $102.00 to $105.00 and gave the company a “positive” rating in a research note on Tuesday, January 28th. DZ Bank upgraded QUALCOMM from a “hold” rating to a “buy” rating and set a $104.00 target price on the stock in a research note on Wednesday, January 15th. Morgan Stanley cut their target price on QUALCOMM from $92.00 to $78.00 and set an “equal weight” rating on the stock in a research note on Wednesday, March 18th. Finally, Piper Sandler started coverage on QUALCOMM in a research note on Wednesday, March 4th. They set a “neutral” rating and a $80.00 target price on the stock. Three investment analysts have rated the stock with a sell rating, ten have assigned a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $91.33.
NASDAQ QCOM opened at $65.46 on Wednesday. The business’s fifty day moving average price is $79.98 and its 200-day moving average price is $83.10. The stock has a market capitalization of $71.47 billion, a price-to-earnings ratio of 18.60, a PEG ratio of 0.90 and a beta of 1.46. The company has a debt-to-equity ratio of 2.98, a current ratio of 1.76 and a quick ratio of 1.61. QUALCOMM, Inc. has a 1-year low of $55.78 and a 1-year high of $96.17.
QUALCOMM (NASDAQ:QCOM) last released its quarterly earnings results on Wednesday, February 5th. The wireless technology company reported $0.99 earnings per share for the quarter, beating the consensus estimate of $0.85 by $0.14. The firm had revenue of $5.08 billion for the quarter, compared to analysts’ expectations of $4.86 billion. QUALCOMM had a return on equity of 66.54% and a net margin of 17.31%. The company’s revenue was up 4.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.20 EPS. Equities research analysts anticipate that QUALCOMM, Inc. will post 3.68 EPS for the current year.
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 issued a dividend of $0.62 per share. The ex-dividend date is Wednesday, March 4th. This represents a $2.48 annualized dividend and a dividend yield of 3.79%. QUALCOMM’s payout ratio is 87.32%.
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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