King Luther Capital Management Corp boosted its holdings in QUALCOMM, Inc. (NASDAQ:QCOM) by 26.8% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 11,916 shares of the wireless technology company’s stock after acquiring an additional 2,522 shares during the period. King Luther Capital Management Corp’s holdings in QUALCOMM were worth $678,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors have also modified their holdings of the company. Lavaca Capital LLC purchased a new stake in shares of QUALCOMM during the fourth quarter valued at approximately $25,000. Csenge Advisory Group purchased a new stake in shares of QUALCOMM during the third quarter valued at approximately $28,000. Transamerica Financial Advisors Inc. raised its stake in shares of QUALCOMM by 688.5% during the fourth quarter. Transamerica Financial Advisors Inc. now owns 615 shares of the wireless technology company’s stock valued at $35,000 after purchasing an additional 537 shares during the period. Pearl River Capital LLC purchased a new stake in shares of QUALCOMM during the fourth quarter valued at approximately $40,000. Finally, Essex Savings Bank purchased a new stake in shares of QUALCOMM during the fourth quarter valued at approximately $48,000. 82.67% of the stock is currently owned by hedge funds and other institutional investors.
In other news, EVP James H. Thompson sold 40,000 shares of the business’s stock in a transaction on Monday, February 11th. The shares were sold at an average price of $50.75, for a total transaction of $2,030,000.00. Following the completion of the transaction, the executive vice president now owns 62,301 shares of the company’s stock, valued at $3,161,775.75. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 0.11% of the company’s stock.
A number of analysts have recently issued reports on the stock. Zacks Investment Research upgraded shares of QUALCOMM from a “hold” rating to a “buy” rating and set a $58.00 price objective on the stock in a research note on Wednesday, February 13th. BidaskClub lowered shares of QUALCOMM from a “sell” rating to a “strong sell” rating in a research note on Tuesday, January 29th. Raymond James set a $65.00 price objective on shares of QUALCOMM and gave the company a “buy” rating in a research note on Saturday, February 2nd. Barclays reiterated a “buy” rating and set a $70.00 price objective on shares of QUALCOMM in a research note on Friday, January 18th. Finally, Morgan Stanley upgraded shares of QUALCOMM from an “underweight” rating to an “equal weight” rating in a research note on Thursday, November 15th. Thirteen equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $66.00.
Shares of QCOM opened at $55.40 on Friday. QUALCOMM, Inc. has a 1 year low of $48.56 and a 1 year high of $76.50. The firm has a market cap of $67.05 billion, a PE ratio of 17.37, a PEG ratio of 1.73 and a beta of 1.21. The company has a debt-to-equity ratio of 4.25, a current ratio of 1.54 and a quick ratio of 1.38.
QUALCOMM (NASDAQ:QCOM) last announced its quarterly earnings results on Wednesday, January 30th. The wireless technology company reported $1.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.09 by $0.11. QUALCOMM had a net margin of 10.03% and a return on equity of 36.66%. The company had revenue of $4.80 billion during the quarter, compared to the consensus estimate of $4.89 billion. During the same quarter in the previous year, the company posted $0.98 earnings per share. The company’s revenue for the quarter was down 21.3% compared to the same quarter last year. On average, analysts anticipate that QUALCOMM, Inc. will post 3.21 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, March 28th. Stockholders of record on Thursday, March 7th will be issued a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a dividend yield of 4.48%. The ex-dividend date of this dividend is Wednesday, March 6th. QUALCOMM’s dividend payout ratio (DPR) is 77.74%.
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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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