QUALCOMM Incorporated (QCOM) Earns Hold Rating from Sanford C. Bernstein
QCOM has been the topic of a number of other reports. J P Morgan Chase & Co reissued an overweight rating on shares of QUALCOMM in a research note on Wednesday, September 6th. BidaskClub raised QUALCOMM from a strong sell rating to a sell rating in a research note on Sunday, July 16th. BMO Capital Markets reissued a market perform rating and set a $55.00 price target on shares of QUALCOMM in a research note on Thursday, August 24th. UBS AG cut their price target on QUALCOMM from $58.00 to $53.00 and set a buy rating on the stock in a research note on Monday, November 6th. Finally, Mizuho reissued a buy rating on shares of QUALCOMM in a research note on Friday, October 27th. Two research analysts have rated the stock with a sell rating, eighteen have given a hold rating and twelve have assigned a buy rating to the stock. QUALCOMM currently has a consensus rating of Hold and an average price target of $65.42.
Shares of QUALCOMM (NASDAQ QCOM) traded up $0.08 during mid-day trading on Monday, hitting $66.19. The stock had a trading volume of 3,350,000 shares, compared to its average volume of 15,600,000. QUALCOMM has a 12-month low of $48.92 and a 12-month high of $70.24. The firm has a market capitalization of $97,570.00, a price-to-earnings ratio of 17.36, a price-to-earnings-growth ratio of 1.83 and a beta of 1.26. The company has a quick ratio of 3.81, a current ratio of 4.00 and a debt-to-equity ratio of 0.63.
QUALCOMM (NASDAQ:QCOM) last announced its quarterly earnings results on Wednesday, November 1st. The wireless technology company reported $0.92 EPS for the quarter, beating the Zacks’ consensus estimate of $0.70 by $0.22. QUALCOMM had a return on equity of 18.08% and a net margin of 11.06%. The firm had revenue of $5.96 billion for the quarter, compared to analyst estimates of $5.80 billion. During the same period last year, the firm posted $1.28 earnings per share. The business’s revenue for the quarter was down 3.5% on a year-over-year basis. analysts forecast that QUALCOMM will post 3.07 EPS for the current year.
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The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Wednesday, November 29th will be given a $0.57 dividend. The ex-dividend date of this dividend is Tuesday, November 28th. This represents a $2.28 annualized dividend and a yield of 3.44%. QUALCOMM’s dividend payout ratio is currently 138.18%.
In other news, EVP Michelle M. Sterling sold 4,740 shares of the company’s stock in a transaction on Monday, August 21st. The stock was sold at an average price of $51.88, for a total transaction of $245,911.20. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Matthew S. Grob sold 20,000 shares of the company’s stock in a transaction on Monday, November 6th. The shares were sold at an average price of $60.44, for a total value of $1,208,800.00. The disclosure for this sale can be found here. In the last three months, insiders sold 25,837 shares of company stock worth $1,512,049. Insiders own 0.17% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of the company. Ronald Blue & Co. LLC lifted its position in shares of QUALCOMM by 0.5% during the 2nd quarter. Ronald Blue & Co. LLC now owns 3,760 shares of the wireless technology company’s stock valued at $208,000 after buying an additional 18 shares during the last quarter. Hollencrest Securities LLC raised its stake in shares of QUALCOMM by 0.9% during the 2nd quarter. Hollencrest Securities LLC now owns 4,356 shares of the wireless technology company’s stock valued at $241,000 after purchasing an additional 40 shares during the period. North Star Investment Management Corp. raised its stake in shares of QUALCOMM by 0.4% during the 2nd quarter. North Star Investment Management Corp. now owns 9,459 shares of the wireless technology company’s stock valued at $522,000 after purchasing an additional 42 shares during the period. FCA Corp TX raised its stake in shares of QUALCOMM by 0.9% during the 1st quarter. FCA Corp TX now owns 4,817 shares of the wireless technology company’s stock valued at $276,000 after purchasing an additional 43 shares during the period. Finally, Farmers Trust Co. raised its stake in shares of QUALCOMM by 0.9% during the 2nd quarter. Farmers Trust Co. now owns 5,214 shares of the wireless technology company’s stock valued at $288,000 after purchasing an additional 48 shares during the period. 76.93% of the stock is currently owned by hedge funds and other institutional investors.
QUALCOMM Company Profile
QUALCOMM Incorporated is engaged in the development and commercialization of a digital communication technology called code division multiple access (CDMA). The Company is engaged in the development and commercialization of the orthogonal frequency division multiple access (OFDMA) family of technologies, including long-term evolution (LTE), which is an Orthogonal Frequency Division Multiplexing (OFDM)-based standard that uses OFDMA and single-carrier Frequency Division Multiple Access (FDMA), for cellular wireless communication applications.
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