Capital International Sarl grew its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM – Get Rating) by 174.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 33,050 shares of the wireless technology company’s stock after purchasing an additional 21,025 shares during the period. Capital International Sarl’s holdings in QUALCOMM were worth $5,051,000 at the end of the most recent quarter.
Several other hedge funds also recently modified their holdings of QCOM. Joseph P. Lucia & Associates LLC purchased a new position in shares of QUALCOMM during the 1st quarter worth about $28,000. Rise Advisors LLC purchased a new position in shares of QUALCOMM during the 4th quarter worth about $34,000. Crewe Advisors LLC lifted its holdings in shares of QUALCOMM by 444.4% during the 1st quarter. Crewe Advisors LLC now owns 245 shares of the wireless technology company’s stock worth $37,000 after acquiring an additional 200 shares during the period. Activest Wealth Management lifted its holdings in shares of QUALCOMM by 117.1% during the 1st quarter. Activest Wealth Management now owns 267 shares of the wireless technology company’s stock worth $41,000 after acquiring an additional 144 shares during the period. Finally, Tortoise Investment Management LLC lifted its holdings in shares of QUALCOMM by 58.8% during the 1st quarter. Tortoise Investment Management LLC now owns 270 shares of the wireless technology company’s stock worth $41,000 after acquiring an additional 100 shares during the period. 71.55% of the stock is owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
Several research analysts have recently weighed in on the stock. JPMorgan Chase & Co. cut their price objective on shares of QUALCOMM from $205.00 to $185.00 and set an “overweight” rating on the stock in a report on Thursday, July 14th. Piper Sandler cut their price objective on shares of QUALCOMM from $190.00 to $185.00 and set an “overweight” rating on the stock in a report on Thursday, July 28th. Canaccord Genuity Group cut their price objective on shares of QUALCOMM from $250.00 to $225.00 and set a “buy” rating on the stock in a report on Thursday, July 28th. Wells Fargo & Company cut their price target 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. Finally, Mizuho raised their price target on shares of QUALCOMM from $168.00 to $175.00 and gave the company a “buy” rating in a report on Thursday, July 28th. Ten investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $191.04.
QUALCOMM Stock Up 2.1 %
QUALCOMM (NASDAQ:QCOM – Get Rating) last released its quarterly earnings results on Wednesday, July 27th. The wireless technology company reported $2.96 earnings per share for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $10.85 billion. During the same quarter last year, the company earned $1.66 earnings per share. The business’s quarterly revenue was up 36.7% compared to the same quarter last year. On average, equities research analysts predict that QUALCOMM Incorporated will post 10.95 earnings per share for the current fiscal year.
QUALCOMM Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 22nd. Shareholders of record on Thursday, September 1st will be issued a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a yield of 2.35%. The ex-dividend date is Wednesday, August 31st. QUALCOMM’s dividend payout ratio is presently 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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