Qualcomm Inc. (NASDAQ:QCOM)‘s stock had its “hold” rating reissued by equities research analysts at Sanford C. Bernstein in a research note issued on Thursday.
QCOM has been the topic of several other reports. BMO Capital Markets lowered shares of Qualcomm from a “market perform” rating to an “underperform” rating and set a $50.00 price target on the stock. in a research note on Thursday, July 14th. Mizuho lifted their price target on shares of Qualcomm from $56.00 to $59.00 and gave the company a “neutral” rating in a research note on Tuesday, September 6th. Morgan Stanley reiterated an “overweight” rating and issued a $65.00 price target on shares of Qualcomm in a research note on Tuesday, September 20th. Pacific Crest lifted their price target on shares of Qualcomm from $59.00 to $67.00 and gave the company an “overweight” rating in a research note on Thursday, July 21st. Finally, Evercore ISI lowered shares of Qualcomm from a “buy” rating to a “hold” rating and lowered their price target for the company from $60.00 to $55.00 in a research note on Friday, July 1st. One research analyst has rated the stock with a sell rating, seventeen have issued a hold rating, twenty have issued a buy rating and one has given a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $64.20.
Shares of Qualcomm (NASDAQ:QCOM) traded down 0.18% on Thursday, hitting $65.94. 5,160,476 shares of the stock were exchanged. Qualcomm has a one year low of $42.24 and a one year high of $70.40. The firm has a market capitalization of $97.17 billion, a PE ratio of 19.31 and a beta of 1.25. The company has a 50-day moving average price of $63.99 and a 200-day moving average price of $57.17.
Qualcomm (NASDAQ:QCOM) last issued its quarterly earnings results on Wednesday, July 20th. The wireless technology company reported $1.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.97 by $0.19. Qualcomm had a net margin of 22.64% and a return on equity of 17.70%. The firm had revenue of $5.60 billion for the quarter, compared to analyst estimates of $5.57 billion. During the same period in the previous year, the business earned $0.99 EPS. The company’s revenue was up 2.9% compared to the same quarter last year. Equities research analysts expect that Qualcomm will post $4.30 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 16th. Stockholders of record on Wednesday, November 30th will be issued a $0.53 dividend. The ex-dividend date of this dividend is Monday, November 28th. This represents a $2.12 annualized dividend and a dividend yield of 3.21%. Qualcomm’s dividend payout ratio is currently 62.17%.
In other news, Director Raymond V. Dittamore sold 7,000 shares of the stock in a transaction dated Friday, July 22nd. The shares were sold at an average price of $61.00, for a total value of $427,000.00. Following the completion of the sale, the director now owns 12,765 shares in the company, valued at $778,665. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Matthew S. Grob sold 33,000 shares of the stock in a transaction dated Thursday, July 21st. The shares were sold at an average price of $59.85, for a total transaction of $1,975,050.00. The disclosure for this sale can be found here. 0.24% of the stock is currently owned by insiders.
Several hedge funds have recently made changes to their positions in the stock. Sterling Global Strategies LLC increased its stake in shares of Qualcomm by 0.4% in the second quarter. Sterling Global Strategies LLC now owns 3,951 shares of the wireless technology company’s stock valued at $211,000 after buying an additional 17 shares in the last quarter. Delphi Private Advisors LLC raised its position in Qualcomm by 0.4% in the second quarter. Delphi Private Advisors LLC now owns 4,371 shares of the wireless technology company’s stock valued at $234,000 after buying an additional 19 shares during the last quarter. Sunbelt Securities Inc. raised its position in Qualcomm by 1.0% in the second quarter. Sunbelt Securities Inc. now owns 2,468 shares of the wireless technology company’s stock valued at $132,000 after buying an additional 24 shares during the last quarter. Pinnacle Wealth Management Advisory Group LLC raised its position in Qualcomm by 0.5% in the second quarter. Pinnacle Wealth Management Advisory Group LLC now owns 4,896 shares of the wireless technology company’s stock valued at $262,000 after buying an additional 25 shares during the last quarter. Finally, Greenwich Wealth Management LLC raised its position in Qualcomm by 0.4% in the second quarter. Greenwich Wealth Management LLC now owns 5,851 shares of the wireless technology company’s stock valued at $313,000 after buying an additional 26 shares during the last quarter. Institutional investors own 78.05% 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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