Greenwood Capital Associates LLC decreased its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM – Get Rating) by 98.0% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,128 shares of the wireless technology company’s stock after selling 54,935 shares during the quarter. Greenwood Capital Associates LLC’s holdings in QUALCOMM were worth $172,000 as of its most recent SEC filing.
A number of other hedge funds have also added to or reduced their stakes in QCOM. BlackRock Inc. grew its stake in QUALCOMM by 4.3% in the fourth quarter. BlackRock Inc. now owns 81,379,537 shares of the wireless technology company’s stock valued at $14,881,876,000 after purchasing an additional 3,319,939 shares in the last quarter. State Street Corp raised its position in QUALCOMM by 3.3% during the fourth quarter. State Street Corp now owns 49,174,315 shares of the wireless technology company’s stock worth $8,992,507,000 after acquiring an additional 1,553,359 shares in the last quarter. Alliancebernstein L.P. lifted its stake in QUALCOMM by 10.6% in the fourth quarter. Alliancebernstein L.P. now owns 20,174,284 shares of the wireless technology company’s stock valued at $3,689,271,000 after acquiring an additional 1,934,339 shares during the last quarter. Geode Capital Management LLC grew its position in shares of QUALCOMM by 1.4% in the 4th quarter. Geode Capital Management LLC now owns 18,698,509 shares of the wireless technology company’s stock valued at $3,410,285,000 after acquiring an additional 265,522 shares during the period. Finally, Norges Bank acquired a new position in shares of QUALCOMM during the 4th quarter worth about $2,266,923,000. Institutional investors own 73.61% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of equities analysts have weighed in on the company. Piper Sandler lowered their price target on QUALCOMM from $190.00 to $185.00 and set an “overweight” rating on the stock in a research report on Thursday, July 28th. Deutsche Bank Aktiengesellschaft cut their price target on QUALCOMM from $190.00 to $170.00 in a report on Wednesday, July 20th. Wells Fargo & Company decreased their price objective on shares of QUALCOMM from $150.00 to $135.00 and set an “equal weight” rating on the stock in a report on Monday, July 11th. Susquehanna cut their target price on shares of QUALCOMM from $190.00 to $165.00 in a research note on Thursday, April 28th. Finally, Barclays decreased their price target on shares of QUALCOMM from $185.00 to $160.00 and set an “equal weight” rating on the stock in a research note on Monday, April 25th. Ten research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $191.04.
Insider Buying and Selling
QUALCOMM Price Performance
QUALCOMM stock opened at $150.03 on Wednesday. The company has a market capitalization of $168.48 billion, a PE ratio of 13.29, a P/E/G ratio of 0.88 and a beta of 1.22. The company has a current ratio of 1.61, a quick ratio of 1.15 and a debt-to-equity ratio of 0.85. The stock has a 50-day moving average price of $138.19 and a two-hundred day moving average price of $146.25. QUALCOMM Incorporated has a 12 month low of $118.22 and a 12 month high of $193.58.
QUALCOMM (NASDAQ:QCOM – Get Rating) last posted its earnings results on Wednesday, July 27th. The wireless technology company reported $2.96 EPS for the quarter, topping the consensus estimate of $2.52 by $0.44. QUALCOMM had a net margin of 30.52% and a return on equity of 95.77%. The business had revenue of $10.93 billion for the quarter, compared to the consensus estimate of $10.85 billion. During the same period last year, the company earned $1.66 EPS. The firm’s revenue was up 36.7% compared to the same quarter last year. Analysts expect that QUALCOMM Incorporated will post 10.95 EPS for the current year.
QUALCOMM Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 22nd. Investors of record on Thursday, September 1st will be issued a $0.75 dividend. The ex-dividend date of this dividend is Wednesday, August 31st. This represents a $3.00 dividend on an annualized basis and a yield of 2.00%. QUALCOMM’s payout ratio is 26.57%.
QUALCOMM Company Profile
QUALCOMM Incorporated engages in the development and commercialization of foundational technologies for the wireless industry worldwide. The company 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 3G/4G/5G and other technologies for use in wireless voice and data communications, networking, application processing, multimedia, and global positioning system products.
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