QUALCOMM Incorporated (NASDAQ:QCOM) shares sold by SlateStone Wealth LLC
SlateStone Wealth LLC reduced its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM – Get Rating) by 72.1% during the fourth quarter, according to its latest filing with the Securities and Exchange Commission (SEC). The fund held 3,110 shares of the wireless technology company after selling 8,046 shares during the quarter. SlateStone Wealth LLC’s holdings in QUALCOMM were worth $569,000 at the end of last quarter.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Bray Capital Advisors increased its position in QUALCOMM shares by 128.0% during the third quarter. Bray Capital Advisors now owns 228 shares of the wireless technology company valued at $29,000 after buying 128 more shares last quarter. Ten Capital Wealth Advisors LLC increased its holdings of QUALCOMM shares by 263.2% in the third quarter. Ten Capital Wealth Advisors LLC now owns 276 shares of the wireless technology company worth $36,000 after purchasing an additional 200 shares during the period. MFA Wealth Advisors LLC acquired a new position in QUALCOMM stock in the third quarter worth approximately $36,000. Jackson Wealth Management LLC increased its holdings of QUALCOMM stock by 0.3% during the third quarter. Jackson Wealth Management LLC now owns 39,836 shares of the wireless technology company worth $37,000 after buying 103 additional shares during the period. Finally, Old North State Trust LLC increased its equity stake in QUALCOMM by 58.9% during the fourth quarter. Old North State Trust LLC now owns 205 shares of the wireless technology company worth $37,000 after buying 76 additional shares during the period. Hedge funds and other institutional investors own 72.78% of the company’s shares.
QCOM shares were down $2.53 on Friday, hitting $136.69. The company’s stock had a trading volume of 12,986,088 shares, compared to an average trading volume of 12,153,806 shares. The company has a market capitalization of $153.09 billion, a price/earnings ratio of 15.66, a P/E/G ratio of 0.80 and a beta of 1.21. The company has a quick ratio of 1.33, a current ratio of 1.65 and a debt ratio of 1.21. The company’s fifty-day moving average price is $160.86 and its 200-day moving average price is $162.22. QUALCOMM Incorporated has a fifty-two week minimum of $122.17 and a fifty-two week maximum of $193.58.
QUALCOMM (NASDAQ:QCOM – Get Rating) last released its quarterly earnings data on Wednesday, February 2. The wireless technology company reported earnings per share (EPS) of $2.96 for the quarter, beating analyst consensus estimates of $2.77 by $0.19. The company posted revenue of $10.70 billion for the quarter, versus $10.43 billion expected by analysts. QUALCOMM had a return on equity of 104.90% and a net margin of 27.71%. The company’s quarterly revenue increased 30.0% year over year. In the same quarter a year earlier, the company posted EPS of $1.97. As a group, stock analysts predict QUALCOMM Incorporated will post earnings per share of 10.62 for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Thursday, March 24. Shareholders of record on Thursday, March 3 received a dividend of $0.68. The ex-dividend date was Wednesday, March 2. This represents an annualized dividend of $2.72 and a dividend yield of 1.99%. QUALCOMM’s payout ratio is currently 34.36%.
Several stock analysts have recently weighed in on the stock. Raymond James raised his price target on QUALCOMM shares from $190.00 to $222.00 and gave the company a “Strong Buy” rating in a Thursday, Feb. 3 research report. Citigroup raised its price target on QUALCOMM shares from $180.00 to $190.00 and gave the stock a “neutral” rating in a Thursday, Feb. 3 research report. Mizuho raised its price target on QUALCOMM shares from $195.00 to $210.00 and gave the stock a “buy” rating in a Thursday, Feb. 3 research report. Sanford C. Bernstein raised its price target on QUALCOMM stock from $225.00 to $250.00 and gave the stock an “outperform” rating in a Thursday, Feb. 3 research note. Finally, Barclays raised its price target on QUALCOMM shares from $180.00 to $185.00 in a Wednesday, January 12 research note. Nine analysts gave the stock a hold rating, fifteen issued a buy rating and two gave the company a strong buy rating. According to MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $202.56.
In other QUALCOMM news, Chief Financial Officer Akash J. Palkhiwala sold 3,100 shares of the company in a trade dated Thursday, February 10. The stock was sold at an average price of $179.83, for a total value of $557,473.00. The transaction was disclosed in a legal filing with the SEC, accessible via this hyperlink. In the past ninety days, insiders have sold 6,268 shares of the company worth $1,127,754. Insiders own 0.05% of the shares of the company.
About QUALCOMM (Get an assessment)
QUALCOMM Incorporated is committed to the development and commercialization of fundamental technologies for the wireless industry worldwide. The Company operates through three segments: Qualcomm CDMA Technologies (QCT); Qualcomm Technology License (QTL); and Qualcomm Strategic Initiatives (QSI). The QCT segment develops and provides integrated circuits and system software based on 3G/4G/5G and other technologies for use in wireless voice and data communications, networking, application processing, multimedia and global positioning system products.
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