Northwestern Mutual Wealth Management Co. grew its stake in QUALCOMM, Inc. (NASDAQ:QCOM) by 5.7% during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 104,626 shares of the wireless technology company’s stock after purchasing an additional 5,670 shares during the quarter. Northwestern Mutual Wealth Management Co.’s holdings in QUALCOMM were worth $7,078,000 as of its most recent filing with the SEC.
Several other institutional investors also recently modified their holdings of QCOM. Norges Bank acquired a new stake in shares of QUALCOMM in the 4th quarter valued at about $1,044,613,000. Renaissance Technologies LLC raised its stake in shares of QUALCOMM by 346.1% in the 4th quarter. Renaissance Technologies LLC now owns 5,756,507 shares of the wireless technology company’s stock valued at $507,897,000 after purchasing an additional 4,466,107 shares in the last quarter. Janus Henderson Group PLC raised its stake in shares of QUALCOMM by 238.9% in the 4th quarter. Janus Henderson Group PLC now owns 4,558,447 shares of the wireless technology company’s stock valued at $402,193,000 after purchasing an additional 3,213,243 shares in the last quarter. Alliancebernstein L.P. raised its stake in QUALCOMM by 110.4% during the fourth quarter. Alliancebernstein L.P. now owns 5,969,697 shares of the wireless technology company’s stock worth $526,706,000 after acquiring an additional 3,132,675 shares during the period. Finally, Sumitomo Mitsui Trust Holdings Inc. raised its stake in QUALCOMM by 31.2% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 6,178,776 shares of the wireless technology company’s stock worth $417,994,000 after acquiring an additional 1,467,770 shares during the period. Institutional investors and hedge funds own 76.65% of the company’s stock.
Several equities research analysts recently weighed in on QCOM shares. BNP Paribas lowered shares of QUALCOMM from an “outperform” rating to an “underperform” rating and set a $65.00 price objective on the stock. in a research note on Tuesday, March 24th. Mizuho dropped their price objective on shares of QUALCOMM from $95.00 to $91.00 and set a “buy” rating on the stock in a research note on Wednesday, April 29th. Wells Fargo & Co started coverage on shares of QUALCOMM in a research note on Monday, May 4th. They set an “underweight” rating and a $70.00 price objective on the stock. ValuEngine upgraded shares of QUALCOMM from a “sell” rating to a “hold” rating in a research note on Tuesday, March 3rd. Finally, Piper Sandler started coverage on shares of QUALCOMM in a research note on Wednesday, March 4th. They set a “neutral” rating and a $80.00 price objective on the stock. Five investment analysts have rated the stock with a sell rating, eight have issued a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $88.57.
QUALCOMM stock opened at $78.70 on Friday. The firm has a 50 day simple moving average of $75.19 and a 200-day simple moving average of $82.06. The company has a debt-to-equity ratio of 4.42, a current ratio of 1.57 and a quick ratio of 1.39. The stock has a market capitalization of $87.74 billion, a PE ratio of 23.28, a price-to-earnings-growth ratio of 1.38 and a beta of 1.36. QUALCOMM, Inc. has a 12-month low of $58.00 and a 12-month high of $96.17.
QUALCOMM (NASDAQ:QCOM) last posted its quarterly earnings data on Wednesday, April 29th. The wireless technology company reported $0.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.79 by $0.09. The business had revenue of $5.21 billion during the quarter, compared to analysts’ expectations of $5.04 billion. QUALCOMM had a net margin of 16.36% and a return on equity of 69.92%. The business’s revenue was up 6.6% on a year-over-year basis. During the same period last year, the firm posted $0.77 earnings per share. On average, analysts forecast that QUALCOMM, Inc. will post 3.08 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 25th. Stockholders of record on Thursday, June 4th will be issued a $0.65 dividend. The ex-dividend date of this dividend is Wednesday, June 3rd. This is a boost from QUALCOMM’s previous quarterly dividend of $0.62. This represents a $2.60 annualized dividend and a dividend yield of 3.30%. QUALCOMM’s dividend payout ratio (DPR) is 87.32%.
QUALCOMM Company Profile
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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