Cullen Frost Bankers Inc. lowered its position in shares of QUALCOMM, Inc. (NASDAQ:QCOM) by 5.7% in the fourth quarter, HoldingsChannel reports. The fund owned 44,198 shares of the wireless technology company’s stock after selling 2,679 shares during the period. Cullen Frost Bankers Inc.’s holdings in QUALCOMM were worth $3,900,000 at the end of the most recent quarter.
Several other hedge funds have also recently added to or reduced their stakes in QCOM. Assenagon Asset Management S.A. grew its stake in shares of QUALCOMM by 787.3% during the fourth quarter. Assenagon Asset Management S.A. now owns 1,540,094 shares of the wireless technology company’s stock worth $135,882,000 after purchasing an additional 1,366,514 shares during the period. Rheos Capital Works Inc. acquired a new stake in shares of QUALCOMM during the fourth quarter worth $112,379,000. Johanson Financial Advisors Inc. grew its stake in QUALCOMM by 9,221.8% in the fourth quarter. Johanson Financial Advisors Inc. now owns 923,234 shares of the wireless technology company’s stock valued at $10,463,000 after acquiring an additional 913,330 shares during the period. Vaughan Nelson Investment Management L.P. acquired a new position in QUALCOMM in the third quarter valued at about $66,793,000. Finally, California Public Employees Retirement System grew its stake in QUALCOMM by 24.1% in the third quarter. California Public Employees Retirement System now owns 2,757,349 shares of the wireless technology company’s stock valued at $210,331,000 after acquiring an additional 535,070 shares during the period. Institutional investors own 77.48% of the company’s stock.
QCOM has been the subject of a number of research analyst reports. UBS Group boosted their target price on QUALCOMM from $87.00 to $91.00 and gave the company a “neutral” rating in a research note on Thursday, February 6th. BidaskClub cut QUALCOMM from a “hold” rating to a “sell” rating in a research note on Saturday, February 1st. Canaccord Genuity boosted their target price on QUALCOMM from $101.00 to $115.00 and gave the company a “buy” rating in a research note on Wednesday, January 15th. Susquehanna Bancshares boosted their target price on QUALCOMM from $102.00 to $105.00 and gave the company a “positive” rating in a research note on Tuesday, January 28th. Finally, Argus boosted their target price on QUALCOMM from $95.00 to $110.00 and gave the company a “buy” rating in a research note on Friday, November 8th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the stock. QUALCOMM presently has an average rating of “Buy” and a consensus price target of $94.38.
Shares of QUALCOMM stock opened at $89.60 on Friday. The firm has a market cap of $102.91 billion, a price-to-earnings ratio of 34.63, a price-to-earnings-growth ratio of 1.25 and a beta of 1.56. The stock’s 50-day moving average is $89.54 and its 200-day moving average is $82.33. QUALCOMM, Inc. has a one year low of $51.60 and a one year high of $96.17. The company has a debt-to-equity ratio of 2.98, a current ratio of 1.76 and a quick ratio of 1.61.
QUALCOMM (NASDAQ:QCOM) last issued its quarterly earnings results on Wednesday, February 5th. The wireless technology company reported $0.99 EPS for the quarter, beating analysts’ consensus estimates of $0.85 by $0.14. The company had revenue of $5.08 billion for the quarter, compared to analyst estimates of $4.86 billion. QUALCOMM had a return on equity of 66.54% and a net margin of 17.31%. The company’s quarterly revenue was up 4.9% compared to the same quarter last year. During the same period in the previous year, the company posted $1.20 earnings per share. On average, equities analysts expect that QUALCOMM, Inc. will post 3.68 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, March 26th. Stockholders of record on Thursday, March 5th will be issued a $0.62 dividend. The ex-dividend date is Wednesday, March 4th. This represents a $2.48 dividend on an annualized basis and a dividend yield of 2.77%. QUALCOMM’s dividend payout ratio (DPR) is 87.32%.
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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