Ridgewood Investments LLC boosted its holdings in QUALCOMM Incorporated (NASDAQ:QCOM – Get Rating) by 13.8% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 14,660 shares of the wireless technology company’s stock after acquiring an additional 1,782 shares during the quarter. QUALCOMM accounts for 1.1% of Ridgewood Investments LLC’s portfolio, making the stock its 13th largest position. Ridgewood Investments LLC’s holdings in QUALCOMM were worth $1,612,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Mission Wealth Management LP raised its holdings in QUALCOMM by 4.8% during the 3rd quarter. Mission Wealth Management LP now owns 14,528 shares of the wireless technology company’s stock worth $1,641,000 after buying an additional 671 shares during the period. ARGI Investment Services LLC increased its holdings in shares of QUALCOMM by 3.5% in the 3rd quarter. ARGI Investment Services LLC now owns 3,595 shares of the wireless technology company’s stock valued at $406,000 after purchasing an additional 122 shares during the period. Desjardins Global Asset Management Inc. increased its holdings in shares of QUALCOMM by 2.5% in the 3rd quarter. Desjardins Global Asset Management Inc. now owns 10,899 shares of the wireless technology company’s stock valued at $1,231,000 after purchasing an additional 266 shares during the period. IFG Advisory LLC increased its holdings in shares of QUALCOMM by 2.9% in the 3rd quarter. IFG Advisory LLC now owns 7,363 shares of the wireless technology company’s stock valued at $831,000 after purchasing an additional 208 shares during the period. Finally, Massmutual Trust Co. FSB ADV increased its holdings in shares of QUALCOMM by 8.3% in the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 23,802 shares of the wireless technology company’s stock valued at $2,689,000 after purchasing an additional 1,830 shares during the period. 70.87% of the stock is owned by institutional investors.
Analyst Upgrades and Downgrades
A number of equities analysts have recently weighed in on QCOM shares. Susquehanna upgraded QUALCOMM from a “neutral” rating to a “positive” rating and upped their target price for the company from $130.00 to $140.00 in a report on Thursday, March 16th. Raymond James began coverage on QUALCOMM in a report on Wednesday, March 1st. They issued a “market perform” rating on the stock. JPMorgan Chase & Co. dropped their price objective on QUALCOMM from $185.00 to $160.00 and set an “overweight” rating on the stock in a report on Tuesday, December 20th. Barclays upgraded QUALCOMM from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $120.00 to $150.00 in a report on Monday, January 23rd. Finally, Cowen dropped their price objective on QUALCOMM from $165.00 to $155.00 and set an “outperform” rating on the stock in a report on Friday, February 3rd. One investment analyst has rated the stock with a sell rating, six have given a hold rating and seventeen have given a buy rating to the stock. Based on data from MarketBeat, QUALCOMM has an average rating of “Moderate Buy” and a consensus target price of $156.48.
QUALCOMM Price Performance
Shares of QCOM stock traded up $0.61 during trading hours on Friday, reaching $124.76. The company’s stock had a trading volume of 6,987,982 shares, compared to its average volume of 7,666,772. The company has a market capitalization of $139.11 billion, a price-to-earnings ratio of 12.02, a PEG ratio of 0.97 and a beta of 1.28. QUALCOMM Incorporated has a fifty-two week low of $101.93 and a fifty-two week high of $161.30. The firm’s 50 day simple moving average is $125.92 and its 200-day simple moving average is $120.85. The company has a quick ratio of 1.41, a current ratio of 2.09 and a debt-to-equity ratio of 0.82.
QUALCOMM (NASDAQ:QCOM – Get Rating) last issued its earnings results on Thursday, February 2nd. The wireless technology company reported $2.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.35 by $0.02. QUALCOMM had a return on equity of 69.93% and a net margin of 27.40%. The company had revenue of $9.46 billion for the quarter, compared to analysts’ expectations of $9.57 billion. During the same period last year, the business earned $2.96 EPS. QUALCOMM’s quarterly revenue was down 11.6% compared to the same quarter last year. Sell-side analysts forecast that QUALCOMM Incorporated will post 8.21 earnings per share for the current year.
QUALCOMM Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 23rd. Shareholders of record on Thursday, March 2nd were paid a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a yield of 2.40%. The ex-dividend date was Wednesday, March 1st. QUALCOMM’s dividend payout ratio (DPR) is presently 28.90%.
Insider Buying and Selling at QUALCOMM
In other QUALCOMM news, Director Jeffrey William Henderson sold 2,500 shares of the firm’s stock in a transaction on Wednesday, February 22nd. The stock was sold at an average price of $124.05, for a total transaction of $310,125.00. Following the transaction, the director now directly owns 4,605 shares in the company, valued at approximately $571,250.25. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, insider Alexander H. Rogers sold 27,626 shares of QUALCOMM stock in a transaction dated Friday, February 3rd. The stock was sold at an average price of $131.48, for a total value of $3,632,266.48. Following the completion of the sale, the insider now owns 23,637 shares of the company’s stock, valued at approximately $3,107,792.76. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Jeffrey William Henderson sold 2,500 shares of QUALCOMM stock in a transaction dated Wednesday, February 22nd. The stock was sold at an average price of $124.05, for a total value of $310,125.00. Following the completion of the sale, the director now directly owns 4,605 shares of the company’s stock, valued at approximately $571,250.25. The disclosure for this sale can be found here. Company insiders own 0.07% of the company’s stock.
QUALCOMM Profile
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.