Lakeview Capital Partners LLC grew its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 50.8% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 2,774 shares of the wireless technology company’s stock after buying an additional 934 shares during the period. Lakeview Capital Partners LLC’s holdings in QUALCOMM were worth $368,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also bought and sold shares of the company. Boston Trust Walden Corp boosted its position in shares of QUALCOMM by 0.7% during the fourth quarter. Boston Trust Walden Corp now owns 15,354 shares of the wireless technology company’s stock valued at $2,339,000 after purchasing an additional 100 shares in the last quarter. Crescent Capital Consulting LLC bought a new stake in shares of QUALCOMM during the fourth quarter valued at approximately $259,000. Hedeker Wealth LLC boosted its position in shares of QUALCOMM by 25.2% during the fourth quarter. Hedeker Wealth LLC now owns 36,972 shares of the wireless technology company’s stock valued at $5,632,000 after purchasing an additional 7,449 shares in the last quarter. TAP Consulting LLC bought a new stake in shares of QUALCOMM during the fourth quarter valued at approximately $200,000. Finally, Investment Partners LTD. bought a new stake in shares of QUALCOMM during the fourth quarter valued at approximately $221,000. 74.76% of the stock is currently owned by hedge funds and other institutional investors.
Several research firms recently weighed in on QCOM. Raymond James lifted their price target on QUALCOMM from $150.00 to $190.00 and gave the company a “strong-buy” rating in a research report on Tuesday, January 19th. Morgan Stanley boosted their target price on QUALCOMM from $167.00 to $173.00 and gave the stock an “overweight” rating in a report on Wednesday, May 5th. Canaccord Genuity boosted their target price on QUALCOMM from $180.00 to $188.00 and gave the stock a “buy” rating in a report on Wednesday, May 5th. Citigroup dropped their target price on QUALCOMM from $165.00 to $154.00 in a report on Thursday, April 29th. Finally, Susquehanna Bancshares downgraded QUALCOMM to a “neutral” rating and dropped their target price for the stock from $175.00 to $155.00 in a report on Monday, April 19th. Twelve analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $163.65.
QUALCOMM (NASDAQ:QCOM) last issued its quarterly earnings results on Wednesday, April 28th. The wireless technology company reported $1.90 EPS for the quarter, topping analysts’ consensus estimates of $1.41 by $0.49. The business had revenue of $7.93 billion during the quarter, compared to analysts’ expectations of $7.62 billion. QUALCOMM had a return on equity of 90.74% and a net margin of 22.09%. The business’s quarterly revenue was up 52.2% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.88 earnings per share. As a group, sell-side analysts predict that QUALCOMM Incorporated will post 6.33 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, June 24th. Shareholders of record on Thursday, June 3rd will be given a $0.68 dividend. This is a boost from QUALCOMM’s previous quarterly dividend of $0.65. The ex-dividend date of this dividend is Wednesday, June 2nd. This represents a $2.72 dividend on an annualized basis and a yield of 2.10%. QUALCOMM’s dividend payout ratio is presently 77.84%.
In other QUALCOMM news, EVP Brian Modoff sold 1,510 shares of the company’s stock in a transaction dated Friday, May 14th. The stock was sold at an average price of $129.32, for a total value of $195,273.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.12% of the company’s stock.
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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