Clifford Swan Investment Counsel LLC trimmed its holdings in shares of QUALCOMM, Inc. (NASDAQ:QCOM) by 3.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 276,365 shares of the wireless technology company’s stock after selling 9,550 shares during the period. Clifford Swan Investment Counsel LLC’s holdings in QUALCOMM were worth $15,728,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also bought and sold shares of the company. Lavaca Capital LLC bought a new stake in QUALCOMM in the fourth quarter valued at approximately $25,000. Csenge Advisory Group bought a new stake in QUALCOMM in the third quarter valued at approximately $28,000. Transamerica Financial Advisors Inc. increased its stake in QUALCOMM by 688.5% in the fourth quarter. Transamerica Financial Advisors Inc. now owns 615 shares of the wireless technology company’s stock valued at $35,000 after purchasing an additional 537 shares in the last quarter. Pearl River Capital LLC bought a new stake in QUALCOMM in the fourth quarter valued at approximately $40,000. Finally, Essex Savings Bank bought a new stake in QUALCOMM in the fourth quarter valued at approximately $48,000. 82.67% of the stock is owned by institutional investors and hedge funds.
In related news, EVP James H. Thompson sold 40,000 shares of the stock in a transaction on Monday, February 11th. The shares were sold at an average price of $50.75, for a total transaction of $2,030,000.00. Following the completion of the transaction, the executive vice president now owns 62,301 shares in the company, valued at $3,161,775.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.11% of the company’s stock.
Several equities research analysts have commented on the stock. BidaskClub raised shares of QUALCOMM from a “strong sell” rating to a “sell” rating in a research note on Friday, March 1st. Zacks Investment Research downgraded shares of QUALCOMM from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 8th. ValuEngine raised shares of QUALCOMM from a “sell” rating to a “hold” rating in a research note on Tuesday, March 5th. BMO Capital Markets reaffirmed a “market perform” rating on shares of QUALCOMM in a research note on Thursday, January 31st. Finally, Bank of America set a $67.00 target price on shares of QUALCOMM and gave the company a “hold” rating in a research note on Tuesday, December 11th. Twelve equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $66.00.
QUALCOMM stock opened at $56.60 on Friday. The company has a market capitalization of $68.50 billion, a PE ratio of 17.74, a P/E/G ratio of 1.73 and a beta of 1.21. QUALCOMM, Inc. has a twelve month low of $48.56 and a twelve month high of $76.50. The company has a quick ratio of 1.38, a current ratio of 1.54 and a debt-to-equity ratio of 4.25.
QUALCOMM (NASDAQ:QCOM) last released its quarterly earnings results on Wednesday, January 30th. The wireless technology company reported $1.20 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.09 by $0.11. The company had revenue of $4.80 billion during the quarter, compared to analysts’ expectations of $4.89 billion. QUALCOMM had a net margin of 10.03% and a return on equity of 36.66%. The business’s quarterly revenue was down 21.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.98 earnings per share. As a group, equities research analysts predict that QUALCOMM, Inc. will post 3.21 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 28th. Investors of record on Thursday, March 7th will be issued a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a yield of 4.38%. The ex-dividend date is Wednesday, March 6th. QUALCOMM’s payout ratio is 77.74%.
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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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