First National Bank of South Miami trimmed its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM – Get Rating) by 9.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,471 shares of the wireless technology company's stock after selling 155 shares during the quarter. First National Bank of South Miami's holdings in QUALCOMM were worth $162,000 at the end of the most recent reporting period.
A number of other institutional investors have also added to or reduced their stakes in the stock. Vanguard Group Inc. increased its position in QUALCOMM by 1.5% during the 3rd quarter. Vanguard Group Inc. now owns 108,549,542 shares of the wireless technology company's stock worth $12,263,927,000 after purchasing an additional 1,608,117 shares in the last quarter. BlackRock Inc. increased its position in QUALCOMM by 0.6% during the 3rd quarter. BlackRock Inc. now owns 82,719,169 shares of the wireless technology company's stock worth $9,345,610,000 after purchasing an additional 492,464 shares in the last quarter. State Street Corp increased its position in QUALCOMM by 1.1% during the 3rd quarter. State Street Corp now owns 47,568,746 shares of the wireless technology company's stock worth $5,374,317,000 after purchasing an additional 524,556 shares in the last quarter. Price T Rowe Associates Inc. MD increased its position in QUALCOMM by 4.2% in the 3rd quarter. Price T Rowe Associates Inc. MD now owns 18,844,528 shares of the wireless technology company's stock valued at $2,129,056,000 after acquiring an additional 765,392 shares during the period. Finally, Bank of New York Mellon Corp increased its position in QUALCOMM by 1.7% in the 3rd quarter. Bank of New York Mellon Corp now owns 12,856,118 shares of the wireless technology company's stock valued at $1,452,484,000 after acquiring an additional 215,229 shares during the period. 70.87% of the stock is currently owned by institutional investors and hedge funds.
Get QUALCOMM alerts:Analyst Ratings Changes
QCOM has been the subject of several recent research reports. KeyCorp upped their price target on shares of QUALCOMM from $150.00 to $160.00 and gave the company an "overweight" rating in a research report on Friday, February 3rd. Wells Fargo & Company upped their price target on shares of QUALCOMM from $105.00 to $130.00 and gave the company an "underweight" rating in a research report on Friday, February 3rd. Bank of America restated a "buy" rating and issued a $150.00 price target on shares of QUALCOMM in a research report on Friday, February 3rd. Morgan Stanley upped their price target on shares of QUALCOMM from $126.00 to $145.00 and gave the company an "overweight" rating in a research report on Friday, February 3rd. Finally, Credit Suisse Group upped their price objective on shares of QUALCOMM from $150.00 to $165.00 and gave the company an "outperform" rating in a research note on Friday, February 3rd. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and seventeen have issued a buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $156.48.
Insider Transactions at QUALCOMM
In related news, Director Jeffrey William Henderson sold 2,500 shares of the business's stock in a transaction dated Wednesday, February 22nd. The shares were sold at an average price of $124.05, for a total transaction of $310,125.00. Following the transaction, the director now directly owns 4,605 shares in the company, valued at $571,250.25. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, Director Jeffrey William Henderson sold 2,500 shares of QUALCOMM stock in a transaction on Wednesday, February 22nd. The stock was sold at an average price of $124.05, for a total transaction of $310,125.00. Following the sale, the director now directly owns 4,605 shares in the company, valued at $571,250.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Alexander H. Rogers sold 27,626 shares of QUALCOMM stock in a transaction on Friday, February 3rd. The stock was sold at an average price of $131.48, for a total value of $3,632,266.48. Following the sale, the insider now owns 23,637 shares in the company, valued at $3,107,792.76. The disclosure for this sale can be found here. Company insiders own 0.07% of the company's stock.
QUALCOMM Stock Up 0.1 %
Shares of QUALCOMM stock traded up $0.08 during trading hours on Monday, reaching $120.81. The company's stock had a trading volume of 1,135,294 shares, compared to its average volume of 7,863,234. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.41 and a current ratio of 2.09. The stock's fifty day simple moving average is $125.43 and its two-hundred day simple moving average is $120.97. The company has a market capitalization of $134.70 billion, a P/E ratio of 11.63, a P/E/G ratio of 0.94 and a beta of 1.28. QUALCOMM Incorporated has a one year low of $101.93 and a one year high of $161.30.
QUALCOMM (NASDAQ:QCOM – Get Rating) last released its quarterly earnings results on Thursday, February 2nd. The wireless technology company reported $2.37 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.35 by $0.02. The business had revenue of $9.46 billion during the quarter, compared to the consensus estimate of $9.57 billion. QUALCOMM had a return on equity of 69.93% and a net margin of 27.40%. The company's quarterly revenue was down 11.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.96 EPS. On average, research analysts forecast that QUALCOMM Incorporated will post 8.21 earnings per share for the current year.
QUALCOMM Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 23rd. Shareholders of record on Thursday, March 2nd will be issued a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a yield of 2.48%. The ex-dividend date of this dividend is Wednesday, March 1st. QUALCOMM's dividend payout ratio is 28.90%.
QUALCOMM Profile
(Get Rating)
QUALCOMM, Inc engages in the development, design, and provision of digital telecommunications products and services. It operates through the following 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 technologies for the use in voice and data communications, networking, application processing, multimedia, and global positioning system products.
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