Mutual of America Capital Management LLC increased its position in QUALCOMM Incorporated (NASDAQ:QCOM) by 0.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 158,393 shares of the wireless technology company’s stock after buying an additional 776 shares during the period. Mutual of America Capital Management LLC’s holdings in QUALCOMM were worth $20,430,000 as of its most recent SEC filing.
Several other large investors have also recently bought and sold shares of QCOM. Financial Enhancement Group LLC acquired a new position in QUALCOMM during the third quarter worth approximately $26,000. Lloyd Advisory Services LLC. increased its position in QUALCOMM by 117.3% during the third quarter. Lloyd Advisory Services LLC. now owns 213 shares of the wireless technology company’s stock worth $27,000 after purchasing an additional 115 shares during the last quarter. Bray Capital Advisors increased its position in shares of QUALCOMM by 128.0% in the third quarter. Bray Capital Advisors now owns 228 shares of the wireless technology company’s stock worth $29,000 after acquiring an additional 128 shares in the last quarter. Itau Unibanco Holding S.A. acquired a new stake in shares of QUALCOMM in the second quarter worth $34,000. Finally, Samalin Investment Counsel LLC acquired a new stake in shares of QUALCOMM in the second quarter worth $48,000. 72.08% of the stock is owned by institutional investors and hedge funds.
Several research firms have recently issued reports on QCOM. The Goldman Sachs Group raised shares of QUALCOMM from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $162.00 to $194.00 in a research report on Thursday, November 4th. Piper Sandler upped their target price on shares of QUALCOMM from $190.00 to $225.00 and gave the company an “overweight” rating in a research note on Wednesday, November 17th. JPMorgan Chase & Co. upped their target price on shares of QUALCOMM from $180.00 to $200.00 and gave the company an “overweight” rating in a research note on Thursday, November 4th. Zacks Investment Research downgraded shares of QUALCOMM from a “buy” rating to a “hold” rating and set a $135.00 price objective on the stock. in a research note on Monday, October 4th. Finally, Susquehanna upped their target price on shares of QUALCOMM from $157.00 to $175.00 and gave the company a “neutral” rating in a research note on Wednesday, November 17th. Eleven investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Buy” and an average target price of $183.87.
Shares of NASDAQ QCOM traded up $5.01 during mid-day trading on Friday, reaching $188.90. 338,563 shares of the company traded hands, compared to its average volume of 9,597,828. QUALCOMM Incorporated has a fifty-two week low of $122.17 and a fifty-two week high of $193.58. The company has a debt-to-equity ratio of 1.38, a current ratio of 1.68 and a quick ratio of 1.41. The firm has a market cap of $211.57 billion, a PE ratio of 23.37, a price-to-earnings-growth ratio of 1.26 and a beta of 1.24. The stock has a fifty day simple moving average of $179.76 and a 200-day simple moving average of $153.22.
QUALCOMM (NASDAQ:QCOM) last posted its quarterly earnings data on Wednesday, November 3rd. The wireless technology company reported $2.55 EPS for the quarter, beating the Zacks’ consensus estimate of $2.06 by $0.49. QUALCOMM had a net margin of 26.94% and a return on equity of 104.16%. The business had revenue of $9.34 billion for the quarter, compared to analyst estimates of $8.88 billion. During the same quarter last year, the business earned $1.23 earnings per share. As a group, analysts predict that QUALCOMM Incorporated will post 9.58 EPS for the current fiscal year.
QUALCOMM announced that its Board of Directors has approved a share buyback program on Tuesday, October 12th that allows the company to buyback $10.00 billion in shares. This buyback authorization allows the wireless technology company to purchase up to 7.2% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s management believes its stock is undervalued.
QUALCOMM, Inc engages in the development, design, and provision of digital telecommunications products and services. It operates through the following 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 technologies for the use in voice and data communications, networking, application processing, multimedia, and global positioning system products.
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