Traynor Capital Management Inc. boosted its position in QUALCOMM Incorporated (NASDAQ:QCOM – Get Rating) by 1.7% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,089 shares of the wireless technology company’s stock after purchasing an additional 100 shares during the period. Traynor Capital Management Inc.’s holdings in QUALCOMM were worth $930,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Rise Advisors LLC purchased a new position in shares of QUALCOMM in the fourth quarter valued at $34,000. MFA Wealth Advisors LLC purchased a new position in QUALCOMM during the 3rd quarter valued at about $36,000. Jackson Wealth Management LLC increased its holdings in QUALCOMM by 0.3% during the 3rd quarter. Jackson Wealth Management LLC now owns 39,836 shares of the wireless technology company’s stock valued at $37,000 after acquiring an additional 103 shares in the last quarter. Old North State Trust LLC raised its position in QUALCOMM by 58.9% during the fourth quarter. Old North State Trust LLC now owns 205 shares of the wireless technology company’s stock worth $37,000 after acquiring an additional 76 shares during the last quarter. Finally, Stuart Chaussee & Associates Inc. lifted its holdings in shares of QUALCOMM by 49.6% in the fourth quarter. Stuart Chaussee & Associates Inc. now owns 202 shares of the wireless technology company’s stock valued at $37,000 after purchasing an additional 67 shares in the last quarter. 73.61% of the stock is owned by hedge funds and other institutional investors.
Several brokerages recently issued reports on QCOM. StockNews.com upgraded QUALCOMM from a “buy” rating to a “strong-buy” rating in a research report on Saturday, May 7th. Susquehanna Bancshares cut their price target on QUALCOMM from $190.00 to $165.00 in a report on Thursday, April 28th. Sumitomo Mitsui Financial Group lowered QUALCOMM from an “outperform” rating to a “neutral” rating and decreased their price objective for the company from $215.00 to $155.00 in a research note on Monday, April 18th. Tigress Financial lifted their price objective on QUALCOMM from $195.00 to $238.00 in a research report on Thursday, May 5th. Finally, Barclays reduced their target price on shares of QUALCOMM from $185.00 to $160.00 and set an “equal weight” rating on the stock in a report on Monday, April 25th. Nine investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $196.48.
NASDAQ QCOM opened at $122.16 on Thursday. The stock has a market capitalization of $136.82 billion, a P/E ratio of 12.50, a P/E/G ratio of 0.69 and a beta of 1.20. QUALCOMM Incorporated has a one year low of $118.36 and a one year high of $193.58. The company has a debt-to-equity ratio of 0.91, a current ratio of 1.61 and a quick ratio of 1.27. The business has a 50 day simple moving average of $135.63 and a 200 day simple moving average of $157.00.
QUALCOMM (NASDAQ:QCOM – Get Rating) last posted its quarterly earnings results on Wednesday, April 27th. The wireless technology company reported $2.86 EPS for the quarter, topping analysts’ consensus estimates of $2.67 by $0.19. QUALCOMM had a net margin of 28.42% and a return on equity of 103.73%. The business had revenue of $11.16 billion during the quarter, compared to analysts’ expectations of $10.58 billion. During the same period last year, the company posted $1.59 earnings per share. Equities analysts expect that QUALCOMM Incorporated will post 11.12 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 23rd. Shareholders of record on Thursday, June 2nd will be given a $0.75 dividend. The ex-dividend date of this dividend is Wednesday, June 1st. This represents a $3.00 annualized dividend and a yield of 2.46%. This is a boost from QUALCOMM’s previous quarterly dividend of $0.68. QUALCOMM’s payout ratio is currently 30.71%.
QUALCOMM Profile (Get Rating)
QUALCOMM Incorporated engages in the development and commercialization of foundational technologies for the wireless industry worldwide. The company 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 3G/4G/5G and other technologies for use in wireless voice and data communications, networking, application processing, multimedia, and global positioning system products.
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