First Long Island Investors LLC boosted its stake in shares of QUALCOMM, Inc. (NASDAQ:QCOM) by 10.1% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 279,727 shares of the wireless technology company’s stock after purchasing an additional 25,730 shares during the period. QUALCOMM makes up about 2.6% of First Long Island Investors LLC’s portfolio, making the stock its 11th biggest position. First Long Island Investors LLC’s holdings in QUALCOMM were worth $20,149,000 as of its most recent filing with the Securities and Exchange Commission.
Other large investors also recently added to or reduced their stakes in the company. Moneta Group Investment Advisors LLC boosted its holdings in shares of QUALCOMM by 9,686.8% in the 2nd quarter. Moneta Group Investment Advisors LLC now owns 74,282 shares of the wireless technology company’s stock valued at $105,000 after acquiring an additional 73,523 shares during the last quarter. Squar Milner Financial Services LLC purchased a new stake in shares of QUALCOMM in the 2nd quarter valued at $106,000. Kiley Juergens Wealth Management LLC boosted its holdings in shares of QUALCOMM by 1,760.0% in the 3rd quarter. Kiley Juergens Wealth Management LLC now owns 1,860 shares of the wireless technology company’s stock valued at $133,000 after acquiring an additional 1,760 shares during the last quarter. MinichMacGregor Wealth Management LLC boosted its holdings in shares of QUALCOMM by 170.9% in the 3rd quarter. MinichMacGregor Wealth Management LLC now owns 1,850 shares of the wireless technology company’s stock valued at $134,000 after acquiring an additional 1,167 shares during the last quarter. Finally, Enterprise Financial Services Corp boosted its holdings in shares of QUALCOMM by 151.8% in the 3rd quarter. Enterprise Financial Services Corp now owns 1,992 shares of the wireless technology company’s stock valued at $143,000 after acquiring an additional 1,201 shares during the last quarter. 76.93% of the stock is currently owned by institutional investors.
QCOM opened at $56.72 on Friday. The company has a quick ratio of 2.62, a current ratio of 2.73 and a debt-to-equity ratio of 0.67. QUALCOMM, Inc. has a 1 year low of $48.56 and a 1 year high of $76.50. The firm has a market capitalization of $93.48 billion, a P/E ratio of 17.78, a PEG ratio of 1.98 and a beta of 1.69.
QUALCOMM (NASDAQ:QCOM) last posted its quarterly earnings data on Wednesday, November 7th. The wireless technology company reported $0.90 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.70 by $0.20. The company had revenue of $5.83 billion during the quarter, compared to analysts’ expectations of $5.54 billion. QUALCOMM had a negative net margin of 18.41% and a positive return on equity of 19.06%. The firm’s revenue for the quarter was down 2.1% on a year-over-year basis. During the same period in the prior year, the business posted $0.92 earnings per share. As a group, equities research analysts forecast that QUALCOMM, Inc. will post 2.8 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 20th. Shareholders of record on Thursday, December 6th will be given a dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a yield of 4.37%. The ex-dividend date is Wednesday, December 5th. QUALCOMM’s dividend payout ratio is presently 77.74%.
QUALCOMM declared that its board has authorized a share buyback program on Thursday, July 26th that authorizes the company to buyback $30.00 billion in shares. This buyback authorization authorizes the wireless technology company to purchase up to 34.1% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board believes its stock is undervalued.
Several analysts have recently commented on QCOM shares. Barclays began coverage on shares of QUALCOMM in a report on Thursday, September 13th. They issued an “overweight” rating and a $95.00 price objective on the stock. Deutsche Bank decreased their target price on shares of QUALCOMM to $65.00 and set a “hold” rating for the company in a research note on Thursday. ValuEngine upgraded shares of QUALCOMM from a “hold” rating to a “buy” rating in a research note on Tuesday, July 24th. Royal Bank of Canada boosted their target price on shares of QUALCOMM to $77.00 and gave the company an “outperform” rating in a research note on Friday, September 7th. Finally, Nomura boosted their target price on shares of QUALCOMM from $70.00 to $80.00 and gave the company a “buy” rating in a research note on Tuesday, September 4th. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and thirteen have assigned a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $70.86.
In other QUALCOMM news, President Cristiano R. Amon sold 88,625 shares of the company’s stock in a transaction on Wednesday, October 10th. The shares were sold at an average price of $68.81, for a total transaction of $6,098,286.25. Following the completion of the transaction, the president now directly owns 58,045 shares in the company, valued at $3,994,076.45. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Alexander H. Rogers sold 854 shares of the company’s stock in a transaction on Thursday, September 27th. The stock was sold at an average price of $72.18, for a total transaction of $61,641.72. Following the transaction, the executive vice president now owns 5,197 shares of the company’s stock, valued at $375,119.46. The disclosure for this sale can be found here. Insiders have sold 91,638 shares of company stock valued at $6,302,079 over the last 90 days. 0.17% of the stock is currently owned by company insiders.
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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