Parsons Capital Management Inc. RI raised its position in QUALCOMM Incorporated (NASDAQ:QCOM) by 1.2% during the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 7,343 shares of the wireless technology company’s stock after acquiring an additional 86 shares during the quarter. Parsons Capital Management Inc. RI’s holdings in QUALCOMM were worth $974,000 at the end of the most recent quarter.
A number of other hedge funds have also recently bought and sold shares of QCOM. Moser Wealth Advisors LLC lifted its holdings in QUALCOMM by 223.2% in the fourth quarter. Moser Wealth Advisors LLC now owns 181 shares of the wireless technology company’s stock valued at $28,000 after acquiring an additional 125 shares during the period. Capital Directions Investment Advisors LLC lifted its holdings in QUALCOMM by 100.0% in the fourth quarter. Capital Directions Investment Advisors LLC now owns 200 shares of the wireless technology company’s stock valued at $30,000 after acquiring an additional 100 shares during the period. RMR Wealth Builders bought a new position in QUALCOMM in the fourth quarter valued at about $30,000. Valley Brook Capital Group bought a new position in QUALCOMM in the fourth quarter valued at about $30,000. Finally, Addison Advisors LLC bought a new position in QUALCOMM in the fourth quarter valued at about $32,000. 74.76% of the stock is currently owned by institutional investors.
Shares of NASDAQ QCOM opened at $137.43 on Tuesday. The company has a quick ratio of 1.84, a current ratio of 2.14 and a debt-to-equity ratio of 2.51. The business has a fifty day simple moving average of $135.51 and a two-hundred day simple moving average of $142.67. The firm has a market cap of $156.12 billion, a PE ratio of 30.34, a price-to-earnings-growth ratio of 1.27 and a beta of 1.34. QUALCOMM Incorporated has a twelve month low of $74.09 and a twelve month high of $167.94.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 24th. Investors of record on Thursday, June 3rd will be paid a dividend of $0.68 per share. This represents a $2.72 annualized dividend and a yield of 1.98%. This is an increase from QUALCOMM’s previous quarterly dividend of $0.65. The ex-dividend date is Wednesday, June 2nd. QUALCOMM’s payout ratio is 77.84%.
QCOM has been the topic of a number of recent research reports. Piper Sandler increased their target price on QUALCOMM from $160.00 to $175.00 and gave the company an “overweight” rating in a report on Thursday, April 29th. Susquehanna restated a “neutral” rating and issued a $155.00 price target (down previously from $175.00) on shares of QUALCOMM in a research report on Monday, April 26th. Evercore ISI restated an “in-line” rating and issued a $150.00 price target (down previously from $195.00) on shares of QUALCOMM in a research report on Monday, April 19th. Canaccord Genuity upped their price target on QUALCOMM from $180.00 to $188.00 and gave the stock a “buy” rating in a research report on Thursday, April 29th. Finally, Susquehanna Bancshares cut QUALCOMM to a “neutral” rating and reduced their price target for the stock from $175.00 to $155.00 in a research report on Monday, April 19th. Twelve analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $163.65.
QUALCOMM Company Profile
QUALCOMM Incorporated engages in the development and commercialization of foundational technologies and products are used in mobile devices and other wireless products, including network equipment, broadband gateway equipment, consumer electronic devices, and other connected devices worldwide. It operates through three segments: Qualcomm CDMA Technologies (QCT); Qualcomm Technology Licensing (QTL); and Qualcomm Strategic Initiatives (QSI).
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