IFM Investors Pty Ltd grew its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM – Get Rating) by 19.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 177,701 shares of the wireless technology company’s stock after buying an additional 28,711 shares during the quarter. IFM Investors Pty Ltd’s holdings in QUALCOMM were worth $27,156,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Rise Advisors LLC purchased a new stake in QUALCOMM in the 4th quarter worth about $34,000. Stuart Chaussee & Associates Inc. raised its position in QUALCOMM by 49.6% in the 4th quarter. Stuart Chaussee & Associates Inc. now owns 202 shares of the wireless technology company’s stock worth $37,000 after purchasing an additional 67 shares during the period. Maryland Capital Advisors Inc. purchased a new stake in QUALCOMM in the 4th quarter worth about $38,000. Steward Financial Group LLC purchased a new stake in QUALCOMM in the 4th quarter worth about $38,000. Finally, Core Wealth Advisors Inc. purchased a new stake in QUALCOMM in the 4th quarter worth about $46,000. 73.61% of the stock is owned by hedge funds and other institutional investors.
QUALCOMM Price Performance
Shares of QCOM opened at $145.06 on Monday. The company has a market cap of $162.47 billion, a price-to-earnings ratio of 14.85, a price-to-earnings-growth ratio of 0.86 and a beta of 1.20. QUALCOMM Incorporated has a twelve month low of $118.22 and a twelve month high of $193.58. The company has a quick ratio of 1.27, a current ratio of 1.61 and a debt-to-equity ratio of 0.91. The company has a 50 day moving average of $135.71 and a two-hundred day moving average of $148.03.
QUALCOMM (NASDAQ:QCOM – Get Rating) last posted its quarterly earnings results on Wednesday, July 27th. The wireless technology company reported $2.96 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.52 by $0.44. The business had revenue of $10.93 billion during the quarter, compared to analysts’ expectations of $10.85 billion. QUALCOMM had a net margin of 28.42% and a return on equity of 103.73%. The business’s quarterly revenue was up 36.7% on a year-over-year basis. During the same quarter last year, the company posted $1.66 earnings per share. As a group, analysts predict that QUALCOMM Incorporated will post 11.05 earnings per share for the current fiscal year.
QUALCOMM Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Thursday, September 22nd. Shareholders of record on Thursday, September 1st will be issued a $0.75 dividend. The ex-dividend date of this dividend is Wednesday, August 31st. This represents a $3.00 dividend on an annualized basis and a dividend yield of 2.07%. QUALCOMM’s dividend payout ratio is currently 30.71%.
Insiders Place Their Bets
In other QUALCOMM news, CAO Erin L. Polek sold 1,521 shares of the firm’s stock in a transaction on Monday, May 23rd. The shares were sold at an average price of $129.95, for a total value of $197,653.95. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.05% of the company’s stock.
Analyst Ratings Changes
A number of analysts recently weighed in on the stock. Tigress Financial increased their price objective on shares of QUALCOMM from $195.00 to $238.00 in a research report on Thursday, May 5th. JPMorgan Chase & Co. dropped their target price on shares of QUALCOMM from $205.00 to $185.00 and set an “overweight” rating on the stock in a research note on Thursday, July 14th. Morgan Stanley upped their target price on shares of QUALCOMM from $167.00 to $170.00 in a research note on Thursday, April 28th. Deutsche Bank Aktiengesellschaft dropped their target price on shares of QUALCOMM from $190.00 to $170.00 in a research note on Wednesday, July 20th. Finally, Canaccord Genuity Group dropped their target price on shares of QUALCOMM from $250.00 to $225.00 and set a “buy” rating on the stock in a research note on Thursday. Nine research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $191.69.
QUALCOMM Company Profile
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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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