Hedeker Wealth LLC lifted its position in Qualcomm (NASDAQ:QCOM) by 4.7% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 26,448 shares of the wireless technology company’s stock after purchasing an additional 1,179 shares during the quarter. Hedeker Wealth LLC’s holdings in Qualcomm were worth $1,465,000 at the end of the most recent quarter.
Other institutional investors have also recently added to or reduced their stakes in the company. Truewealth LLC purchased a new position in Qualcomm in the fourth quarter worth $102,000. We Are One Seven LLC purchased a new position in Qualcomm in the fourth quarter worth $119,000. Gradient Investments LLC purchased a new position in Qualcomm in the fourth quarter worth $120,000. Cerebellum GP LLC purchased a new stake in Qualcomm during the fourth quarter valued at about $126,000. Finally, Avestar Capital LLC purchased a new stake in Qualcomm during the fourth quarter valued at about $141,000. 78.21% of the stock is currently owned by hedge funds and other institutional investors.
In related news, EVP Alexander H. Rogers sold 1,180 shares of the stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $66.94, for a total value of $78,989.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP James H. Thompson sold 50,126 shares of the stock in a transaction dated Friday, March 9th. The stock was sold at an average price of $62.66, for a total transaction of $3,140,895.16. Following the completion of the transaction, the executive vice president now directly owns 136,482 shares of the company’s stock, valued at $8,551,962.12. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 80,383 shares of company stock valued at $4,762,616. Insiders own 0.24% of the company’s stock.
Shares of Qualcomm opened at $55.23 on Monday, Marketbeat reports. The stock has a market cap of $81.89 billion, a PE ratio of 14.61, a PEG ratio of 1.77 and a beta of 1.47. The company has a quick ratio of 3.46, a current ratio of 3.60 and a debt-to-equity ratio of 0.81. Qualcomm has a 12 month low of $48.56 and a 12 month high of $69.28.
Qualcomm (NASDAQ:QCOM) last issued its quarterly earnings data on Wednesday, April 25th. The wireless technology company reported $0.80 EPS for the quarter, beating the consensus estimate of $0.70 by $0.10. The firm had revenue of $5.20 billion during the quarter, compared to the consensus estimate of $5.21 billion. Qualcomm had a negative net margin of 20.16% and a positive return on equity of 16.48%. The company’s quarterly revenue was down 13.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.34 earnings per share. equities analysts anticipate that Qualcomm will post 2.71 earnings per share for the current year.
Qualcomm declared that its board has initiated a share buyback program on Wednesday, May 9th that authorizes the company to repurchase $10.00 billion in shares. This repurchase authorization authorizes the wireless technology company to repurchase up to 12.7% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s board of directors believes its shares are undervalued.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 20th. Stockholders of record on Wednesday, May 30th will be paid a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a dividend yield of 4.49%. This is an increase from Qualcomm’s previous quarterly dividend of $0.57. The ex-dividend date of this dividend is Tuesday, May 29th. Qualcomm’s dividend payout ratio is 60.32%.
Qualcomm Company Profile
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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