Panagora Asset Management Inc. grew its holdings in QUALCOMM Incorporated (NASDAQ:QCOM) by 2.8% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 645,746 shares of the wireless technology company’s stock after buying an additional 17,383 shares during the quarter. Panagora Asset Management Inc.’s holdings in QUALCOMM were worth $85,619,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also bought and sold shares of the company. Montrusco Bolton Investments Inc. increased its stake in QUALCOMM by 0.5% in the 1st quarter. Montrusco Bolton Investments Inc. now owns 70,546 shares of the wireless technology company’s stock valued at $9,354,000 after purchasing an additional 354 shares in the last quarter. Insight Wealth Strategies LLC increased its stake in QUALCOMM by 83.9% in the 1st quarter. Insight Wealth Strategies LLC now owns 8,700 shares of the wireless technology company’s stock valued at $1,154,000 after purchasing an additional 3,970 shares in the last quarter. Meristem Family Wealth LLC increased its stake in QUALCOMM by 4.4% in the 1st quarter. Meristem Family Wealth LLC now owns 5,201 shares of the wireless technology company’s stock valued at $690,000 after purchasing an additional 220 shares in the last quarter. E Fund Management Co. Ltd. purchased a new position in QUALCOMM in the 1st quarter valued at approximately $3,513,000. Finally, AMS Capital Ltda purchased a new position in QUALCOMM in the 1st quarter valued at approximately $10,607,000. 72.53% of the stock is owned by institutional investors and hedge funds.
QCOM has been the subject of several recent research reports. Susquehanna reissued a “neutral” rating and set a $155.00 price target (down previously from $175.00) on shares of QUALCOMM in a research report on Monday, April 26th. Mizuho raised their price objective on QUALCOMM from $170.00 to $175.00 and gave the stock a “buy” rating in a report on Thursday, April 29th. Citigroup decreased their price objective on QUALCOMM from $165.00 to $154.00 in a report on Thursday, April 29th. JPMorgan Chase & Co. decreased their price objective on QUALCOMM from $185.00 to $170.00 and set an “overweight” rating on the stock in a report on Thursday, March 4th. Finally, Piper Sandler raised their price objective on QUALCOMM from $160.00 to $175.00 and gave the stock an “overweight” rating in a report on Thursday, April 29th. Twelve analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the company’s stock. QUALCOMM presently has a consensus rating of “Buy” and an average target price of $163.65.
Shares of NASDAQ QCOM opened at $134.17 on Friday. QUALCOMM Incorporated has a 1 year low of $83.10 and a 1 year high of $167.94. The stock has a market capitalization of $151.34 billion, a price-to-earnings ratio of 19.26, a price-to-earnings-growth ratio of 0.93 and a beta of 1.32. The company has a debt-to-equity ratio of 2.05, a quick ratio of 1.72 and a current ratio of 2.02. The stock’s 50-day simple moving average is $134.68.
QUALCOMM (NASDAQ:QCOM) last announced its earnings results on Wednesday, April 28th. The wireless technology company reported $1.90 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.41 by $0.49. The business had revenue of $7.93 billion for the quarter, compared to analyst estimates of $7.62 billion. QUALCOMM had a return on equity of 103.71% and a net margin of 27.28%. The company’s revenue for the quarter was up 52.2% compared to the same quarter last year. During the same period in the previous year, the company earned $0.88 earnings per share. On average, research analysts expect that QUALCOMM Incorporated will post 6.66 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 24th. Investors of record on Thursday, June 3rd will be issued a $0.68 dividend. This is a positive change from QUALCOMM’s previous quarterly dividend of $0.65. This represents a $2.72 annualized dividend and a yield of 2.03%. The ex-dividend date of this dividend is Wednesday, June 2nd. QUALCOMM’s payout ratio is currently 81.44%.
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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