Franklin Resources Inc. lowered its position in QUALCOMM, Inc. (NASDAQ:QCOM) by 1.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 8,190,606 shares of the wireless technology company’s stock after selling 105,818 shares during the period. Franklin Resources Inc.’s holdings in QUALCOMM were worth $534,036,000 at the end of the most recent quarter.
Other hedge funds have also made changes to their positions in the company. Massey Quick & Co. LLC acquired a new stake in shares of QUALCOMM during the fourth quarter worth about $105,000. Orrstown Financial Services Inc. increased its stake in shares of 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 period. Edmond DE Rothschild Monaco acquired a new stake in shares of QUALCOMM during the third quarter worth about $112,000. Kelman Lazarov Inc. increased its stake in shares of 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 period. Finally, Tradewinds Capital Management LLC increased its stake in shares of 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 period. 79.28% of the stock is owned by institutional investors.
Shares of QUALCOMM, Inc. (NASDAQ:QCOM) opened at 56.66 on Tuesday. The company has a 50 day moving average price of $56.52 and a 200-day moving average price of $62.86. The firm has a market cap of $83.69 billion, a PE ratio of 17.28 and a beta of 1.31. QUALCOMM, Inc. has a 12-month low of $49.67 and a 12-month high of $71.62.
QUALCOMM (NASDAQ:QCOM) last released its quarterly earnings results on Wednesday, January 25th. The wireless technology company reported $1.19 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.18 by $0.01. The company had revenue of $5.99 billion for the quarter, compared to analysts’ expectations of $6.12 billion. QUALCOMM had a return on equity of 20.25% and a net margin of 20.56%. The business’s revenue for the quarter was up 3.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.97 earnings per share. Analysts expect that QUALCOMM, Inc. will post $4.66 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 22nd. Stockholders of record on Wednesday, March 1st were issued a dividend of $0.53 per share. The ex-dividend date of this dividend was Monday, February 27th. This represents a $2.12 dividend on an annualized basis and a dividend yield of 3.74%. QUALCOMM’s dividend payout ratio (DPR) is presently 64.63%.
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A number of brokerages have issued reports on QCOM. Instinet decreased their price target on QUALCOMM to $65.00 in a report on Thursday, January 26th. Cowen and Company decreased their price target on QUALCOMM to $73.00 in a report on Thursday, January 26th. Royal Bank of Canada decreased their price target on QUALCOMM from $70.00 to $60.00 and set a “sector perform” rating for the company in a report on Thursday, January 26th. Oppenheimer Holdings Inc. reaffirmed a “market perform” rating on shares of QUALCOMM in a report on Monday, January 30th. Finally, Brean Capital reaffirmed a “hold” rating on shares of QUALCOMM in a report on Wednesday, December 21st. One analyst has rated the stock with a sell rating, fifteen have issued a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company. QUALCOMM presently has a consensus rating of “Buy” and a consensus price target of $66.98.
In other QUALCOMM news, EVP Cristiano R. Amon purchased 18,815 shares of the business’s stock in a transaction dated Friday, February 3rd. The shares were bought at an average price of $53.13 per share, with a total value of $999,640.95. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Matthew S. Grob sold 2,000 shares of QUALCOMM stock in a transaction that occurred on Tuesday, January 3rd. The shares were sold at an average price of $65.86, for a total value of $131,720.00. Following the sale, the executive vice president now directly owns 2,000 shares in the company, valued at approximately $131,720. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 22,614 shares of company stock worth $1,484,029. Corporate 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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