Oak Ridge Investments LLC raised its stake in QUALCOMM Incorporated (NASDAQ:QCOM) by 0.2% in the first quarter, Holdings Channel.com reports. The firm owned 64,466 shares of the wireless technology company’s stock after acquiring an additional 142 shares during the period. Oak Ridge Investments LLC’s holdings in QUALCOMM were worth $8,548,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors also recently modified their holdings of the business. Wealthcare Capital Management LLC bought a new position in shares of QUALCOMM during the 1st quarter worth about $26,000. Capital Directions Investment Advisors LLC lifted its holdings in shares of QUALCOMM by 100.0% during the 4th quarter. Capital Directions Investment Advisors LLC now owns 200 shares of the wireless technology company’s stock worth $30,000 after acquiring an additional 100 shares during the period. RMR Wealth Builders bought a new position in shares of QUALCOMM during the 4th quarter worth about $30,000. Valley Brook Capital Group acquired a new stake in shares of QUALCOMM during the 4th quarter worth about $30,000. Finally, IronBridge Private Wealth LLC acquired a new stake in shares of QUALCOMM during the 4th quarter worth about $33,000. 72.53% of the stock is owned by hedge funds and other institutional investors.
QCOM has been the subject of a number of recent analyst reports. Canaccord Genuity increased their target price on shares of QUALCOMM from $180.00 to $188.00 and gave the stock a “buy” rating in a research report on Thursday, April 29th. Evercore ISI reiterated an “in-line” rating and set a $150.00 target price (down previously from $195.00) on shares of QUALCOMM in a research report on Monday, April 19th. Mizuho increased their target price 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. JPMorgan Chase & Co. lowered their price objective on shares of QUALCOMM from $185.00 to $170.00 and set an “overweight” rating for the company in a research report on Thursday, March 4th. Finally, Susquehanna restated a “neutral” rating and issued a $155.00 price objective (down previously from $175.00) on shares of QUALCOMM in a research report on Monday, April 26th. Twelve equities research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. QUALCOMM currently has a consensus rating of “Buy” and a consensus price target of $163.65.
QCOM traded up $1.05 during trading on Thursday, reaching $133.94. The company had a trading volume of 222,917 shares, compared to its average volume of 10,068,483. The company has a debt-to-equity ratio of 2.05, a quick ratio of 1.72 and a current ratio of 2.02. QUALCOMM Incorporated has a 12 month low of $83.10 and a 12 month high of $167.94. The company’s fifty day moving average price is $134.75. The stock has a market capitalization of $151.08 billion, a P/E ratio of 19.07, a P/E/G ratio of 0.93 and a beta of 1.32.
QUALCOMM (NASDAQ:QCOM) last posted its quarterly earnings data on Wednesday, April 28th. The wireless technology company reported $1.90 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.41 by $0.49. QUALCOMM had a net margin of 27.28% and a return on equity of 103.71%. The company had revenue of $7.93 billion for the quarter, compared to the consensus estimate of $7.62 billion. During the same period last year, the company earned $0.88 earnings per share. The firm’s revenue was up 52.2% compared to the same quarter last year. On average, research analysts expect that QUALCOMM Incorporated will post 6.66 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 24th. Stockholders of record on Thursday, June 3rd will be issued a $0.68 dividend. The ex-dividend date of this dividend is Wednesday, June 2nd. This is an increase from QUALCOMM’s previous quarterly dividend of $0.65. This represents a $2.72 dividend on an annualized basis and a dividend yield of 2.03%. QUALCOMM’s dividend payout ratio (DPR) is 81.44%.
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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