Cim Investment Mangement Inc. Has $770,000 Stake in QUALCOMM, Inc. (QCOM)
Cim Investment Mangement Inc. increased its stake in QUALCOMM, Inc. (NASDAQ:QCOM) by 1.1% during the fourth quarter, Holdings Channel reports. The institutional investor owned 11,806 shares of the wireless technology company’s stock after buying an additional 132 shares during the period. Cim Investment Mangement Inc.’s holdings in QUALCOMM were worth $770,000 at the end of the most recent reporting period.
A number of other large investors also recently modified their holdings of QCOM. Massey Quick & Co. LLC bought a new stake in shares of QUALCOMM during the fourth quarter valued at $105,000. Orrstown Financial Services Inc. raised its stake in shares of QUALCOMM by 53.2% in the third quarter. Orrstown Financial Services Inc. now owns 1,627 shares of the wireless technology company’s stock valued at $111,000 after buying an additional 565 shares in the last quarter. Edmond DE Rothschild Monaco bought a new stake in shares of QUALCOMM during the third quarter valued at $112,000. Kelman Lazarov Inc. raised its stake in shares of QUALCOMM by 6.1% in the third quarter. Kelman Lazarov Inc. now owns 1,735 shares of the wireless technology company’s stock valued at $116,000 after buying an additional 100 shares in the last quarter. Finally, Tradewinds Capital Management LLC raised its stake in shares of QUALCOMM by 4.8% in the third quarter. Tradewinds Capital Management LLC now owns 1,785 shares of the wireless technology company’s stock valued at $122,000 after buying an additional 81 shares in the last quarter. 79.28% of the stock is currently owned by hedge funds and other institutional investors.
QUALCOMM, Inc. (NASDAQ:QCOM) opened at 57.81 on Tuesday. The company’s 50-day moving average price is $55.89 and its 200 day moving average price is $63.12. The company has a market cap of $85.39 billion, a PE ratio of 17.63 and a beta of 1.31. QUALCOMM, Inc. has a 52 week low of $49.67 and a 52 week high of $71.62.
QUALCOMM (NASDAQ:QCOM) last issued its quarterly earnings data on Wednesday, January 25th. The wireless technology company reported $1.19 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.18 by $0.01. QUALCOMM had a return on equity of 20.25% and a net margin of 20.56%. The firm earned $5.99 billion during the quarter, compared to the consensus estimate of $6.12 billion. During the same quarter in the previous year, the company posted $0.97 EPS. The business’s revenue for the quarter was up 3.9% compared to the same quarter last year. On average, analysts anticipate that QUALCOMM, Inc. will post $4.66 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 given a $0.53 dividend. The ex-dividend date of this dividend is Monday, February 27th. This represents a $2.12 annualized dividend and a yield of 3.67%. QUALCOMM’s payout ratio is 64.63%.
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Several equities research analysts have weighed in on the company. Instinet dropped their target price on QUALCOMM to $65.00 in a research report on Thursday, January 26th. Cowen and Company lowered their price target on QUALCOMM to $73.00 in a report on Thursday, January 26th. Royal Bank of Canada lowered their price target on QUALCOMM from $70.00 to $60.00 and set a “sector perform” rating on the stock in a report on Thursday, January 26th. Oppenheimer Holdings Inc. reissued a “market perform” rating on shares of QUALCOMM in a report on Monday, January 30th. Finally, Brean Capital reissued a “hold” rating on shares of QUALCOMM in a report on Wednesday, December 21st. One research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company. QUALCOMM currently has a consensus rating of “Buy” and an average price target of $66.98.
In other QUALCOMM news, EVP Alexander H. Rogers sold 8,993 shares of QUALCOMM stock in a transaction on Thursday, December 29th. The stock was sold at an average price of $65.50, for a total value of $589,041.50. Following the completion of the transaction, the executive vice president now owns 655 shares in the company, valued at approximately $42,902.50. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Anthony J. Vinciquerra acquired 1,000 shares of the business’s stock in a transaction on Monday, January 30th. The stock was acquired at an average price of $53.99 per share, with a total value of $53,990.00. Following the transaction, the director now owns 1,281 shares in the company, valued at approximately $69,161.19. The disclosure for this purchase can be found here. In the last quarter, insiders sold 22,614 shares of company stock valued at $1,484,029. Corporate insiders own 0.24% of the company’s stock.
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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