QUALCOMM, Inc. (QCOM) Holdings Raised by North Star Investment Management Corp.
North Star Investment Management Corp. boosted its position in QUALCOMM, Inc. (NASDAQ:QCOM) by 219.6% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 30,710 shares of the wireless technology company’s stock after purchasing an additional 21,101 shares during the period. North Star Investment Management Corp.’s holdings in QUALCOMM were worth $1,966,000 as of its most recent SEC filing.
A number of other hedge funds have also recently modified their holdings of the business. United Asset Strategies Inc. purchased a new position in QUALCOMM in the second quarter valued at about $5,249,000. Wrapmanager Inc. purchased a new position in QUALCOMM in the third quarter valued at about $369,000. Conning Inc. boosted its stake in QUALCOMM by 16.4% in the third quarter. Conning Inc. now owns 719,378 shares of the wireless technology company’s stock valued at $37,293,000 after acquiring an additional 101,483 shares during the last quarter. Stephens Inc. AR boosted its stake in QUALCOMM by 10.8% in the second quarter. Stephens Inc. AR now owns 115,483 shares of the wireless technology company’s stock valued at $6,377,000 after acquiring an additional 11,232 shares during the last quarter. Finally, Ffcm LLC boosted its stake in QUALCOMM by 44.7% in the third quarter. Ffcm LLC now owns 101,475 shares of the wireless technology company’s stock valued at $5,261,000 after acquiring an additional 31,326 shares during the last quarter. 76.16% of the stock is owned by institutional investors and hedge funds.
In other QUALCOMM news, EVP Michelle M. Sterling sold 7,840 shares of the stock in a transaction that occurred on Tuesday, November 21st. The shares were sold at an average price of $66.56, for a total value of $521,830.40. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Alexander H. Rogers sold 713 shares of the stock in a transaction that occurred on Monday, January 29th. The stock was sold at an average price of $68.20, for a total transaction of $48,626.60. Following the completion of the sale, the executive vice president now owns 10,403 shares in the company, valued at $709,484.60. The disclosure for this sale can be found here. Insiders sold a total of 53,346 shares of company stock worth $3,499,504 over the last quarter. Corporate insiders own 0.17% of the company’s stock.
QUALCOMM (NASDAQ:QCOM) last posted its earnings results on Wednesday, January 31st. The wireless technology company reported $0.98 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.91 by $0.07. QUALCOMM had a negative net margin of 18.65% and a positive return on equity of 18.10%. The business had revenue of $6.10 billion for the quarter, compared to analysts’ expectations of $5.93 billion. During the same period in the prior year, the company posted $1.19 EPS. The business’s revenue for the quarter was up 1.7% compared to the same quarter last year. equities analysts anticipate that QUALCOMM, Inc. will post 2.8 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 21st. Shareholders of record on Wednesday, February 28th will be paid a $0.57 dividend. This represents a $2.28 annualized dividend and a yield of 3.56%. The ex-dividend date of this dividend is Tuesday, February 27th. QUALCOMM’s dividend payout ratio is presently -80.57%.
A number of research analysts have weighed in on the stock. KeyCorp boosted their target price on shares of QUALCOMM from $68.00 to $73.00 and gave the company a “buy” rating in a research note on Thursday, February 1st. Canaccord Genuity boosted their target price on shares of QUALCOMM from $83.00 to $86.00 and gave the company a “buy” rating in a research note on Wednesday, January 17th. Vetr cut shares of QUALCOMM from a “strong-buy” rating to a “buy” rating and set a $76.42 target price on the stock. in a research note on Thursday, February 1st. ValuEngine upgraded shares of QUALCOMM from a “hold” rating to a “buy” rating in a research note on Friday, February 2nd. Finally, Sanford C. Bernstein reiterated a “hold” rating on shares of QUALCOMM in a research note on Monday, November 13th. One equities research analyst has rated the stock with a sell rating, sixteen have issued a hold rating and fourteen have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $68.25.
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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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