Parallel Advisors LLC bought a new position in QUALCOMM, Inc. (NASDAQ:QCOM) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 4,609 shares of the wireless technology company’s stock, valued at approximately $301,000.
Other hedge funds have also added to or reduced their stakes in the company. Massey Quick & Co. LLC acquired a new stake in QUALCOMM during the fourth quarter worth approximately $105,000. Orrstown Financial Services Inc. increased its stake in QUALCOMM by 53.2% in the third quarter. Orrstown Financial Services Inc. now owns 1,627 shares of the wireless technology company’s stock worth $111,000 after buying an additional 565 shares during the last quarter. Edmond DE Rothschild Monaco acquired a new stake in QUALCOMM during the third quarter worth approximately $112,000. Kelman Lazarov Inc. increased its stake in QUALCOMM by 6.1% in the third quarter. Kelman Lazarov Inc. now owns 1,735 shares of the wireless technology company’s stock worth $116,000 after buying an additional 100 shares during the last quarter. Finally, Tradewinds Capital Management LLC increased its stake in QUALCOMM by 4.8% in the third quarter. Tradewinds Capital Management LLC now owns 1,785 shares of the wireless technology company’s stock worth $122,000 after buying an additional 81 shares during the last quarter. Institutional investors and hedge funds own 79.28% of the company’s stock.
Shares of QUALCOMM, Inc. (NASDAQ:QCOM) traded down 0.30% during trading on Friday, hitting $52.50. 10,943,464 shares of the stock were exchanged. The firm’s 50-day moving average is $56.40 and its 200 day moving average is $61.89. The company has a market cap of $77.54 billion, a P/E ratio of 16.01 and a beta of 1.31. QUALCOMM, Inc. has a 1-year low of $50.11 and a 1-year high of $71.62.
QUALCOMM (NASDAQ:QCOM) last announced its quarterly earnings data on Wednesday, April 19th. The wireless technology company reported $1.34 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.05 by $0.29. The company had revenue of $5.99 billion for the quarter, compared to analysts’ expectations of $5.86 billion. QUALCOMM had a return on equity of 20.25% and a net margin of 20.56%. QUALCOMM’s revenue for the quarter was up 8.1% compared to the same quarter last year. During the same period last year, the firm posted $1.04 EPS. Equities analysts forecast that QUALCOMM, Inc. will post $4.66 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 21st. Investors of record on Wednesday, May 31st will be issued a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a dividend yield of 4.34%. This is a boost from QUALCOMM’s previous quarterly dividend of $0.53. The ex-dividend date of this dividend is Friday, May 26th. QUALCOMM’s dividend payout ratio (DPR) is currently 64.63%.
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A number of equities research analysts have recently issued reports on the stock. BMO Capital Markets restated a “market perform” rating and set a $60.00 price target on shares of QUALCOMM in a report on Thursday, February 16th. Morgan Stanley lowered shares of QUALCOMM from an “overweight” rating to an “equal weight” rating in a report on Tuesday, January 31st. Mizuho restated a “buy” rating and set a $75.00 price target on shares of QUALCOMM in a report on Tuesday, April 11th. Canaccord Genuity restated a “buy” rating and set a $76.00 price target on shares of QUALCOMM in a report on Wednesday, March 8th. Finally, Raymond James Financial, Inc. restated a “market perform” rating on shares of QUALCOMM in a report on Monday, January 30th. One equities research analyst has rated the stock with a sell rating, seventeen have given a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company. QUALCOMM has an average rating of “Hold” and an average price target of $66.98.
In other news, EVP Cristiano R. Amon acquired 18,815 shares of the firm’s stock in a transaction that occurred on Friday, February 3rd. The shares were bought at an average cost of $53.13 per share, with a total value of $999,640.95. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Also, Director Anthony J. Vinciquerra purchased 1,000 shares of the firm’s stock in a transaction on Monday, January 30th. The stock was bought at an average cost of $53.99 per share, for a total transaction of $53,990.00. Following the completion of the purchase, the director now directly owns 1,281 shares in the company, valued at $69,161.19. The disclosure for this purchase can be found here. Company insiders own 0.24% of the company’s stock.
QUALCOMM Company Profile
QUALCOMM Incorporated is engaged in the development and commercialization of a digital communication technology called code division multiple access (CDMA). The Company is engaged in the development and commercialization of the orthogonal frequency division multiple access (OFDMA) family of technologies, including long-term evolution (LTE), which is an Orthogonal Frequency Division Multiplexing (OFDM)-based standard that uses OFDMA and single-carrier Frequency Division Multiple Access (FDMA), for cellular wireless communication applications.
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