Orion Portfolio Solutions LLC Grows Stake in QUALCOMM Incorporated (NASDAQ:QCOM)

Orion Portfolio Solutions LLC lifted its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOMGet Rating) by 6.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 17,516 shares of the wireless technology company’s stock after purchasing an additional 1,076 shares during the period. Orion Portfolio Solutions LLC’s holdings in QUALCOMM were worth $2,677,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Norges Bank bought a new position in QUALCOMM during the fourth quarter worth about $2,266,923,000. Cowa LLC bought a new position in QUALCOMM in the 1st quarter worth approximately $94,000. BlackRock Inc. grew its stake in QUALCOMM by 4.3% in the 4th quarter. BlackRock Inc. now owns 81,379,537 shares of the wireless technology company’s stock valued at $14,881,876,000 after buying an additional 3,319,939 shares in the last quarter. Capital International Investors raised its holdings in QUALCOMM by 63.2% during the 4th quarter. Capital International Investors now owns 6,843,216 shares of the wireless technology company’s stock valued at $1,251,413,000 after acquiring an additional 2,648,829 shares during the period. Finally, Nuveen Asset Management LLC lifted its position in shares of QUALCOMM by 37.2% during the fourth quarter. Nuveen Asset Management LLC now owns 8,468,283 shares of the wireless technology company’s stock worth $1,548,596,000 after acquiring an additional 2,294,400 shares in the last quarter. Institutional investors own 71.55% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on QCOM shares. KeyCorp boosted their price objective on QUALCOMM from $200.00 to $220.00 in a research note on Monday, June 13th. Deutsche Bank Aktiengesellschaft cut their price objective on shares of QUALCOMM from $190.00 to $170.00 in a research report on Wednesday, July 20th. DZ Bank lowered shares of QUALCOMM from a “buy” rating to a “hold” rating and set a $150.00 target price on the stock. in a report on Friday, July 29th. JPMorgan Chase & Co. cut their price target on shares of QUALCOMM from $205.00 to $185.00 and set an “overweight” rating for the company in a report on Thursday, July 14th. Finally, Cowen set a $185.00 price target on shares of QUALCOMM in a report on Tuesday, July 19th. Ten analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, QUALCOMM currently has an average rating of “Moderate Buy” and an average price target of $191.04.

QUALCOMM Price Performance

QCOM opened at $127.53 on Thursday. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.61 and a quick ratio of 1.15. QUALCOMM Incorporated has a 1 year low of $118.22 and a 1 year high of $193.58. The stock’s 50 day simple moving average is $141.74 and its 200 day simple moving average is $141.11. The firm has a market cap of $143.22 billion, a price-to-earnings ratio of 11.30, a PEG ratio of 0.76 and a beta of 1.23.

QUALCOMM (NASDAQ:QCOMGet Rating) last issued its earnings results on Wednesday, July 27th. The wireless technology company reported $2.96 earnings per share (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 firm had revenue of $10.93 billion for the quarter, compared to analysts’ expectations of $10.85 billion. During the same quarter last year, the business earned $1.66 earnings per share. The business’s revenue was up 36.7% on a year-over-year basis. As a group, analysts predict that QUALCOMM Incorporated will post 10.95 earnings per share for the current year.

QUALCOMM Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 22nd. Stockholders of record on Thursday, September 1st will be issued a dividend of $0.75 per share. The ex-dividend date of this dividend is Wednesday, August 31st. This represents a $3.00 dividend on an annualized basis and a dividend yield of 2.35%. QUALCOMM’s dividend payout ratio is currently 26.57%.

QUALCOMM Company Profile

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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.

Further Reading

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Institutional Ownership by Quarter for QUALCOMM (NASDAQ:QCOM)

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