WealthTrust Axiom LLC increased its stake in QUALCOMM, Inc. (NASDAQ:QCOM) by 14.7% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 3,940 shares of the wireless technology company’s stock after purchasing an additional 504 shares during the period. WealthTrust Axiom LLC’s holdings in QUALCOMM were worth $300,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Krane Funds Advisors LLC bought a new stake in shares of QUALCOMM in the 2nd quarter valued at about $28,000. Ibex Wealth Advisors bought a new stake in shares of QUALCOMM in the 2nd quarter valued at about $28,000. Hexavest Inc. bought a new stake in shares of QUALCOMM in the 2nd quarter valued at about $33,000. Mechanics Bank Trust Department bought a new stake in shares of QUALCOMM in the 3rd quarter valued at about $34,000. Finally, Lenox Wealth Advisors LLC bought a new stake in shares of QUALCOMM in the 2nd quarter valued at about $34,000. 78.30% of the stock is owned by hedge funds and other institutional investors.
A number of equities research analysts have recently issued reports on the stock. Cowen reaffirmed an “outperform” rating and issued a $100.00 target price (up from $80.00) on shares of QUALCOMM in a report on Thursday. UBS Group upped their target price on shares of QUALCOMM from $73.00 to $87.00 and gave the company a “neutral” rating in a report on Thursday. DZ Bank raised shares of QUALCOMM from a “sell” rating to a “hold” rating and set a $92.00 target price on the stock in a report on Friday. Mizuho upped their target price on shares of QUALCOMM from $68.00 to $80.00 and gave the company a “positive” rating in a report on Thursday. Finally, TheStreet raised shares of QUALCOMM from a “c+” rating to a “b-” rating in a report on Thursday, August 1st. One research analyst has rated the stock with a sell rating, twelve have given a hold rating, thirteen have issued a buy rating and two have given a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $85.18.
QUALCOMM (NASDAQ:QCOM) last issued its earnings results on Wednesday, November 6th. The wireless technology company reported $0.78 earnings per share for the quarter, beating analysts’ consensus estimates of $0.71 by $0.07. QUALCOMM had a net margin of 13.41% and a return on equity of 112.21%. The firm had revenue of $4.80 billion for the quarter, compared to analyst estimates of $4.71 billion. During the same quarter last year, the business posted $0.90 earnings per share. The company’s quarterly revenue was down 17.2% on a year-over-year basis. As a group, research analysts expect that QUALCOMM, Inc. will post 3.29 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Thursday, December 5th will be given a $0.62 dividend. The ex-dividend date of this dividend is Wednesday, December 4th. This represents a $2.48 dividend on an annualized basis and a yield of 2.64%. QUALCOMM’s dividend payout ratio is currently 87.32%.
In other QUALCOMM news, Director Mark D. Mclaughlin purchased 2,705 shares of the business’s stock in a transaction dated Wednesday, August 28th. The shares were bought at an average price of $73.84 per share, for a total transaction of $199,737.20. Following the completion of the acquisition, the director now owns 5,220 shares in the company, valued at $385,444.80. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, President Cristiano R. Amon sold 8,611 shares of QUALCOMM stock in a transaction on Friday, October 25th. The stock was sold at an average price of $80.03, for a total transaction of $689,138.33. Following the transaction, the president now owns 50,434 shares in the company, valued at approximately $4,036,233.02. The disclosure for this sale can be found here. Insiders sold 19,118 shares of company stock worth $1,477,392 in the last 90 days. Company insiders own 0.11% of the company’s stock.
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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