Greylin Investment Mangement Inc. decreased its holdings in shares of QUALCOMM, Inc. (NASDAQ:QCOM) by 7.4% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 322,840 shares of the wireless technology company’s stock after selling 25,671 shares during the period. QUALCOMM accounts for 5.9% of Greylin Investment Mangement Inc.’s portfolio, making the stock its 2nd largest position. Greylin Investment Mangement Inc.’s holdings in QUALCOMM were worth $24,626,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also made changes to their positions in QCOM. Larson Financial Group LLC increased its position in shares of QUALCOMM by 169.5% during the third quarter. Larson Financial Group LLC now owns 803 shares of the wireless technology company’s stock valued at $61,000 after acquiring an additional 505 shares in the last quarter. First PREMIER Bank increased its position in shares of QUALCOMM by 19.6% during the third quarter. First PREMIER Bank now owns 9,201 shares of the wireless technology company’s stock valued at $702,000 after acquiring an additional 1,505 shares in the last quarter. Truvestments Capital LLC increased its position in shares of QUALCOMM by 10.6% during the third quarter. Truvestments Capital LLC now owns 27,069 shares of the wireless technology company’s stock valued at $2,065,000 after acquiring an additional 2,599 shares in the last quarter. Pacer Advisors Inc. increased its position in shares of QUALCOMM by 12.4% during the third quarter. Pacer Advisors Inc. now owns 213,908 shares of the wireless technology company’s stock valued at $16,317,000 after acquiring an additional 23,672 shares in the last quarter. Finally, We Are One Seven LLC increased its position in shares of QUALCOMM by 6.3% during the third quarter. We Are One Seven LLC now owns 6,278 shares of the wireless technology company’s stock valued at $479,000 after acquiring an additional 373 shares in the last quarter. 78.45% of the stock is owned by institutional investors and hedge funds.
Several brokerages recently weighed in on QCOM. Mizuho set a $68.00 price target on shares of QUALCOMM and gave the company a “hold” rating in a research report on Monday, August 26th. Barclays downgraded shares of QUALCOMM from an “overweight” rating to an “equal weight” rating and reduced their price target for the company from $90.00 to $75.00 in a research report on Thursday, July 18th. Daiwa Capital Markets began coverage on shares of QUALCOMM in a research report on Thursday, July 18th. They set a “neutral” rating for the company. BidaskClub raised shares of QUALCOMM from a “buy” rating to a “strong-buy” rating in a research report on Saturday, September 7th. Finally, ValuEngine downgraded shares of QUALCOMM from a “buy” rating to a “hold” rating in a research report on Monday. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating, twelve have given a buy rating and two have assigned a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $79.68.
NASDAQ:QCOM traded up $2.69 during trading hours on Friday, reaching $77.66. The company had a trading volume of 3,743,296 shares, compared to its average volume of 6,005,600. The company has a current ratio of 1.77, a quick ratio of 1.61 and a debt-to-equity ratio of 2.46. QUALCOMM, Inc. has a 52 week low of $49.10 and a 52 week high of $90.34. The firm has a market cap of $88.56 billion, a price-to-earnings ratio of 24.34, a PEG ratio of 1.73 and a beta of 1.59. The firm’s 50 day moving average price is $76.75 and its 200-day moving average price is $73.56.
QUALCOMM (NASDAQ:QCOM) last posted its earnings results on Wednesday, July 31st. The wireless technology company reported $0.64 EPS for the quarter, topping analysts’ consensus estimates of $0.62 by $0.02. QUALCOMM had a net margin of 13.41% and a return on equity of 112.21%. The business had revenue of $4.89 billion during the quarter, compared to the consensus estimate of $5.12 billion. During the same quarter in the previous year, the firm posted $1.01 EPS. The firm’s revenue was down 12.7% on a year-over-year basis. On average, analysts forecast that QUALCOMM, Inc. will post 2.84 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Thursday, September 26th. Shareholders of record on Thursday, September 12th were given a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a yield of 3.19%. The ex-dividend date of this dividend was Wednesday, September 11th. QUALCOMM’s dividend payout ratio (DPR) is presently 77.74%.
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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