Camelot Portfolios LLC Raises Stake in QUALCOMM, Inc. (QCOM)
Camelot Portfolios LLC lifted its stake in shares of QUALCOMM, Inc. (NASDAQ:QCOM) by 1.9% in the 4th quarter, HoldingsChannel reports. The fund owned 11,742 shares of the wireless technology company’s stock after acquiring an additional 221 shares during the quarter. Camelot Portfolios LLC’s holdings in QUALCOMM were worth $668,000 as of its most recent SEC filing.
Several other hedge funds also recently modified their holdings of QCOM. Oregon Public Employees Retirement Fund increased its position in shares of QUALCOMM by 9,505.7% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 33,612,696 shares of the wireless technology company’s stock worth $591,000 after acquiring an additional 33,262,770 shares in the last quarter. Bank of New York Mellon Corp increased its position in shares of QUALCOMM by 1,897,041.6% during the third quarter. Bank of New York Mellon Corp now owns 20,830,615 shares of the wireless technology company’s stock worth $1,500,428,000 after acquiring an additional 20,829,517 shares in the last quarter. Morgan Stanley increased its position in shares of QUALCOMM by 163.2% during the third quarter. Morgan Stanley now owns 18,891,278 shares of the wireless technology company’s stock worth $1,360,740,000 after acquiring an additional 11,713,988 shares in the last quarter. Point72 Asset Management L.P. bought a new stake in shares of QUALCOMM during the third quarter worth $357,926,000. Finally, Capital World Investors increased its position in shares of QUALCOMM by 33.5% during the third quarter. Capital World Investors now owns 18,580,637 shares of the wireless technology company’s stock worth $1,338,363,000 after acquiring an additional 4,662,437 shares in the last quarter. 82.67% of the stock is owned by institutional investors.
QCOM has been the subject of several recent research reports. Bank of America set a $67.00 target price on shares of QUALCOMM and gave the stock a “hold” rating in a report on Tuesday, December 11th. Evercore ISI restated an “in-line” rating and set a $60.00 target price (down previously from $68.00) on shares of QUALCOMM in a report on Monday, January 14th. BidaskClub upgraded shares of QUALCOMM from a “sell” rating to a “hold” rating in a report on Tuesday, December 11th. Zacks Investment Research cut shares of QUALCOMM from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 8th. Finally, Morgan Stanley upgraded shares of QUALCOMM from an “underweight” rating to an “equal weight” rating in a report on Thursday, November 15th. Thirteen investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $66.00.
QUALCOMM (NASDAQ:QCOM) last announced its quarterly earnings results on Wednesday, January 30th. The wireless technology company reported $1.20 EPS for the quarter, beating analysts’ consensus estimates of $1.09 by $0.11. The firm had revenue of $4.80 billion during the quarter, compared to analysts’ expectations of $4.89 billion. QUALCOMM had a net margin of 10.03% and a return on equity of 36.66%. The company’s revenue for the quarter was down 21.3% compared to the same quarter last year. During the same quarter last year, the company posted $0.98 earnings per share. As a group, equities research analysts predict that QUALCOMM, Inc. will post 3.21 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, March 28th. Shareholders of record on Thursday, March 7th will be paid a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a yield of 4.48%. The ex-dividend date is Wednesday, March 6th. QUALCOMM’s dividend payout ratio is currently 77.74%.
In other QUALCOMM news, EVP James H. Thompson sold 40,000 shares of the stock in a transaction on Monday, February 11th. The shares were sold at an average price of $50.75, for a total value of $2,030,000.00. Following the completion of the sale, the executive vice president now owns 62,301 shares in the company, valued at $3,161,775.75. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 0.11% of the company’s stock.
TRADEMARK VIOLATION NOTICE: “Camelot Portfolios LLC Raises Stake in QUALCOMM, Inc. (QCOM)” was posted by Daily Political and is the property of of Daily Political. If you are accessing this piece on another website, it was illegally stolen and republished in violation of U.S. and international trademark and copyright law. The correct version of this piece can be read at https://www.dailypolitical.com/2019/03/14/camelot-portfolios-llc-raises-stake-in-qualcomm-inc-qcom.html.
QUALCOMM Incorporated designs, develops, manufactures, and markets digital communication products worldwide. It operates through three 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 code division multiple access (CDMA), orthogonal frequency division multiple access, and other technologies for use in wireless voice and data communications, networking, application processing, multimedia, and global positioning system products.
See Also: Fundamental Analysis and Choosing Stocks
Want to see what other hedge funds are holding QCOM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for QUALCOMM, Inc. (NASDAQ:QCOM).
Receive News & Ratings for QUALCOMM Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for QUALCOMM and related companies with MarketBeat.com's FREE daily email newsletter.