Feltz Wealth PLAN Inc. Has $254,000 Stake in QUALCOMM Incorporated (QCOM)
Feltz Wealth PLAN Inc. lowered its stake in QUALCOMM Incorporated (NASDAQ:QCOM) by 48.4% during the third quarter, Holdings Channel reports. The firm owned 3,808 shares of the wireless technology company’s stock after selling 3,577 shares during the period. Feltz Wealth PLAN Inc.’s holdings in QUALCOMM were worth $254,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Riggs Asset Managment Co. Inc. purchased a new position in QUALCOMM during the second quarter valued at approximately $2,072,000. Hedeker Wealth LLC purchased a new position in QUALCOMM during the second quarter valued at approximately $779,000. GW Henssler & Associates Ltd. boosted its position in QUALCOMM by 1.8% in the second quarter. GW Henssler & Associates Ltd. now owns 219,425 shares of the wireless technology company’s stock valued at $11,755,000 after buying an additional 3,882 shares during the period. BP PLC boosted its position in QUALCOMM by 18.5% in the second quarter. BP PLC now owns 211,000 shares of the wireless technology company’s stock valued at $11,301,000 after buying an additional 33,000 shares during the period. Finally, Kornitzer Capital Management Inc. KS boosted its position in QUALCOMM by 6.7% in the second quarter. Kornitzer Capital Management Inc. KS now owns 622,727 shares of the wireless technology company’s stock valued at $33,359,000 after buying an additional 38,842 shares during the period. Institutional investors own 79.28% of the company’s stock.
QUALCOMM Incorporated (NASDAQ:QCOM) opened at 56.88 on Friday. The stock’s 50 day moving average is $59.14 and its 200-day moving average is $63.81. QUALCOMM Incorporated has a 1-year low of $48.76 and a 1-year high of $71.62. The firm has a market capitalization of $84.01 billion, a PE ratio of 17.35 and a beta of 1.31.
QUALCOMM (NASDAQ:QCOM) last released its quarterly earnings data on Wednesday, January 25th. The wireless technology company reported $1.19 EPS for the quarter, topping analysts’ consensus estimates of $1.18 by $0.01. The firm earned $5.99 billion during the quarter, compared to the consensus estimate of $6.12 billion. QUALCOMM had a net margin of 20.56% and a return on equity of 20.25%. The firm’s revenue was up 3.9% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.97 earnings per share. Equities research analysts forecast that QUALCOMM Incorporated will post $4.67 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 22nd. Shareholders of record on Wednesday, March 1st will be issued a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a yield of 3.73%. The ex-dividend date is Monday, February 27th. QUALCOMM’s dividend payout ratio is presently 64.63%.
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Several research analysts have commented on QCOM shares. Vetr upgraded shares of QUALCOMM from a “hold” rating to a “strong-buy” rating and set a $79.32 price target for the company in a report on Monday, October 24th. BMO Capital Markets upgraded shares of QUALCOMM from a “market perform” rating to an “outperform” rating and boosted their price target for the stock from $53.00 to $70.00 in a report on Friday, October 28th. They noted that the move was a valuation call. RBC Capital Markets restated a “sector perform” rating and set a $70.00 price objective on shares of QUALCOMM in a research report on Friday, October 28th. Cowen and Company restated an “outperform” rating and set a $74.00 price objective on shares of QUALCOMM in a research report on Saturday, October 29th. Finally, Nomura upgraded shares of QUALCOMM from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $55.00 to $80.00 in a research report on Monday, October 31st. One research analyst has rated the stock with a sell rating, seventeen have issued a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the stock. QUALCOMM presently has a consensus rating of “Hold” and an average target price of $67.66.
In other QUALCOMM news, SVP John Francis Murphy sold 9,344 shares of QUALCOMM stock in a transaction on Wednesday, December 7th. The shares were sold at an average price of $68.24, for a total value of $637,634.56. Following the completion of the transaction, the senior vice president now owns 9,122 shares of the company’s stock, valued at $622,485.28. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Matthew S. Grob sold 2,000 shares of QUALCOMM stock in a transaction on Tuesday, December 13th. The stock was sold at an average price of $70.00, for a total transaction of $140,000.00. Following the completion of the transaction, the executive vice president now directly owns 2,000 shares of the company’s stock, valued at approximately $140,000. The disclosure for this sale can be found here. In the last ninety days, insiders sold 60,758 shares of company stock valued at $4,050,326. 0.24% of the stock is currently owned by corporate insiders.
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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