Howard Capital Management Inc. lifted its position in QUALCOMM Incorporated (NASDAQ:QCOM) by 3.0% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 4,515 shares of the wireless technology company’s stock after purchasing an additional 131 shares during the quarter. Howard Capital Management Inc.’s holdings in QUALCOMM were worth $627,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Kathmere Capital Management LLC acquired a new stake in QUALCOMM during the 3rd quarter worth approximately $129,000. Rockland Trust Co. lifted its position in QUALCOMM by 79.3% during the 4th quarter. Rockland Trust Co. now owns 4,529 shares of the wireless technology company’s stock worth $690,000 after acquiring an additional 2,003 shares during the period. Thomasville National Bank acquired a new stake in QUALCOMM during the 4th quarter worth approximately $247,000. Private Trust Co. NA lifted its position in QUALCOMM by 22.2% during the 4th quarter. Private Trust Co. NA now owns 19,608 shares of the wireless technology company’s stock worth $2,987,000 after acquiring an additional 3,556 shares during the period. Finally, First Financial Bank Trust Division raised its stake in shares of QUALCOMM by 1.2% during the 4th quarter. First Financial Bank Trust Division now owns 37,245 shares of the wireless technology company’s stock worth $5,674,000 after buying an additional 428 shares in the last quarter. 74.76% of the stock is owned by hedge funds and other institutional investors.
Shares of NASDAQ QCOM traded down $4.50 during midday trading on Tuesday, reaching $132.93. 457,571 shares of the company’s stock were exchanged, compared to its average volume of 10,514,027. QUALCOMM Incorporated has a 52-week low of $74.09 and a 52-week high of $167.94. The stock has a market capitalization of $151.01 billion, a PE ratio of 30.34, a price-to-earnings-growth ratio of 1.27 and a beta of 1.34. The company has a debt-to-equity ratio of 2.51, a quick ratio of 1.84 and a current ratio of 2.14. The business’s fifty day moving average price is $135.51 and its two-hundred day moving average price is $142.67.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 24th. Stockholders of record on Thursday, June 3rd will be given a dividend of $0.68 per share. This represents a $2.72 dividend on an annualized basis and a dividend yield of 2.05%. This is a positive change from QUALCOMM’s previous quarterly dividend of $0.65. The ex-dividend date is Wednesday, June 2nd. QUALCOMM’s payout ratio is presently 77.84%.
QCOM has been the subject of a number of analyst reports. Susquehanna reissued a “neutral” rating and set a $155.00 target price (down from $175.00) on shares of QUALCOMM in a research note on Monday, April 26th. Susquehanna Bancshares downgraded QUALCOMM to a “neutral” rating and dropped their price objective for the company from $175.00 to $155.00 in a research note on Monday, April 19th. Barclays raised their price objective on QUALCOMM from $135.00 to $150.00 and gave the company an “equal weight” rating in a research note on Tuesday, January 26th. They noted that the move was a valuation call. Royal Bank of Canada raised their price objective on QUALCOMM from $126.00 to $150.00 and gave the company a “sector perform” rating in a research note on Thursday, February 4th. Finally, Canaccord Genuity increased their target price on QUALCOMM from $180.00 to $188.00 and gave the company a “buy” rating in a report on Thursday, April 29th. Twelve equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company. QUALCOMM has a consensus rating of “Buy” and an average price target of $163.65.
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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