Garrison Bradford & Associates Inc. reduced its holdings in shares of QUALCOMM, Inc. (NASDAQ:QCOM) by 22.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 8,600 shares of the wireless technology company’s stock after selling 2,534 shares during the period. Garrison Bradford & Associates Inc.’s holdings in QUALCOMM were worth $551,000 at the end of the most recent quarter.
A number of other hedge funds have also made changes to their positions in QCOM. Westwood Holdings Group Inc. purchased a new stake in QUALCOMM during the second quarter valued at approximately $114,000. Krilogy Financial LLC increased its holdings in QUALCOMM by 47.0% during the second quarter. Krilogy Financial LLC now owns 2,331 shares of the wireless technology company’s stock valued at $129,000 after buying an additional 745 shares during the last quarter. Capstone Investment Advisors Netherlands B.V. purchased a new stake in QUALCOMM during the second quarter valued at approximately $141,000. Jacobi Capital Management LLC increased its holdings in QUALCOMM by 7.8% during the second quarter. Jacobi Capital Management LLC now owns 2,767 shares of the wireless technology company’s stock valued at $154,000 after buying an additional 200 shares during the last quarter. Finally, Penserra Capital Management LLC increased its holdings in QUALCOMM by 40.7% during the second quarter. Penserra Capital Management LLC now owns 2,912 shares of the wireless technology company’s stock valued at $160,000 after buying an additional 842 shares during the last quarter. 75.67% of the stock is owned by institutional investors and hedge funds.
In other QUALCOMM news, EVP Alexander H. Rogers sold 919 shares of the stock in a transaction on Wednesday, December 27th. The shares were sold at an average price of $64.32, for a total transaction of $59,110.08. Following the completion of the transaction, the executive vice president now owns 11,116 shares in the company, valued at $714,981.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Matthew S. Grob sold 43,000 shares of the stock in a transaction on Tuesday, January 9th. The shares were sold at an average price of $65.35, for a total transaction of $2,810,050.00. Following the transaction, the executive vice president now owns 43,000 shares of the company’s stock, valued at approximately $2,810,050. The disclosure for this sale can be found here. Insiders have sold 45,506 shares of company stock valued at $2,977,673 in the last quarter. 0.24% of the stock is owned by company insiders.
QUALCOMM (NASDAQ:QCOM) last issued its earnings results on Wednesday, January 31st. The wireless technology company reported $0.98 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.91 by $0.07. QUALCOMM had a negative net margin of 18.65% and a positive return on equity of 18.10%. The firm had revenue of $6.10 billion during the quarter, compared to analyst estimates of $5.93 billion. During the same quarter in the prior year, the business earned $1.19 earnings per share. QUALCOMM’s revenue for the quarter was up 1.7% on a year-over-year basis. analysts expect that QUALCOMM, Inc. will post 2.8 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 21st. Shareholders of record on Wednesday, February 28th will be given a dividend of $0.57 per share. The ex-dividend date is Tuesday, February 27th. This represents a $2.28 annualized dividend and a yield of 3.56%. QUALCOMM’s dividend payout ratio (DPR) is currently -93.06%.
QCOM has been the subject of a number of research reports. Mizuho reaffirmed a “buy” rating on shares of QUALCOMM in a report on Friday, October 27th. Zacks Investment Research lowered shares of QUALCOMM from a “buy” rating to a “hold” rating in a research report on Friday, October 27th. BMO Capital Markets upped their price target on shares of QUALCOMM from $55.00 to $57.00 and gave the stock a “market perform” rating in a research report on Thursday, November 2nd. Canaccord Genuity upped their price target on shares of QUALCOMM from $70.00 to $76.00 and gave the stock a “buy” rating in a research report on Thursday, November 2nd. Finally, Sanford C. Bernstein upped their price target on shares of QUALCOMM from $50.00 to $55.00 and gave the stock a “market perform” rating in a research report on Thursday, November 2nd. One investment analyst has rated the stock with a sell rating, sixteen have issued a hold rating and fourteen have assigned a buy rating to the stock. QUALCOMM presently has a consensus rating of “Hold” and an average target price of $68.25.
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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