Strs Ohio cut its holdings in shares of QUALCOMM, Inc. (NASDAQ:QCOM) by 9.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 762,198 shares of the wireless technology company’s stock after selling 78,733 shares during the period. Strs Ohio’s holdings in QUALCOMM were worth $67,248,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds have also bought and sold shares of the company. Peddock Capital Advisors LLC bought a new stake in shares of QUALCOMM in the fourth quarter valued at about $30,000. Mechanics Bank Trust Department bought a new stake in shares of QUALCOMM in the third quarter valued at about $34,000. Proffitt & Goodson Inc. bought a new stake in shares of QUALCOMM in the third quarter valued at about $38,000. Ellevest Inc. lifted its holdings in shares of QUALCOMM by 217.8% in the third quarter. Ellevest Inc. now owns 518 shares of the wireless technology company’s stock valued at $40,000 after purchasing an additional 355 shares in the last quarter. Finally, Garrett Wealth Advisory Group LLC bought a new stake in shares of QUALCOMM in the third quarter valued at about $42,000. Hedge funds and other institutional investors own 77.38% of the company’s stock.
In other QUALCOMM news, CAO Erin L. Polek sold 3,190 shares of the business’s stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $84.65, for a total transaction of $270,033.50. Following the transaction, the chief accounting officer now owns 1,040 shares of the company’s stock, valued at $88,036. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, President Cristiano R. Amon sold 19,045 shares of the business’s stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $85.18, for a total value of $1,622,253.10. Following the transaction, the president now directly owns 58,780 shares in the company, valued at approximately $5,006,880.40. The disclosure for this sale can be found here. In the last three months, insiders have sold 109,458 shares of company stock worth $9,349,683. Company insiders own 0.11% of the company’s stock.
QUALCOMM (NASDAQ:QCOM) last announced its quarterly earnings results on Wednesday, November 6th. The wireless technology company reported $0.78 earnings per share for the quarter, topping analysts’ consensus estimates of $0.71 by $0.07. The firm had revenue of $4.80 billion for the quarter, compared to the consensus estimate of $4.71 billion. QUALCOMM had a return on equity of 77.78% and a net margin of 18.07%. The business’s revenue was down 17.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.90 earnings per share. On average, analysts forecast that QUALCOMM, Inc. will post 3.48 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 26th. Shareholders of record on Thursday, March 5th will be given a dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a yield of 2.77%. The ex-dividend date of this dividend is Wednesday, March 4th. QUALCOMM’s dividend payout ratio (DPR) is presently 87.32%.
A number of analysts have recently commented on QCOM shares. Argus boosted their price target on QUALCOMM from $95.00 to $110.00 and gave the company a “buy” rating in a report on Friday, November 8th. Cowen reiterated a “buy” rating and set a $100.00 target price on shares of QUALCOMM in a report on Wednesday, November 20th. Royal Bank of Canada upped their target price on QUALCOMM to $88.00 and gave the stock a “sector perform” rating in a report on Thursday, November 7th. Deutsche Bank upped their target price on QUALCOMM from $82.00 to $96.00 and gave the stock a “hold” rating in a report on Wednesday, November 20th. Finally, Morgan Stanley lowered QUALCOMM from an “overweight” rating to an “equal” rating and upped their target price for the stock from $89.00 to $90.00 in a report on Monday, November 11th. They noted that the move was a valuation call. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $88.84.
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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