McGuire Investment Group LLC reduced its stake in QUALCOMM Incorporated (NASDAQ:QCOM – Get Rating) by 4.1% during the 1st quarter, according to the company in its latest 13F filing with the SEC. The company held 161,870 shares of the wireless technology company after selling 6,944 shares during the quarter. QUALCOMM represents about 4.5% of McGuire Investment Group LLC’s holdings, making the stock its second-largest position. McGuire Investment Group LLC’s holdings in QUALCOMM were worth $24,737,000 when it last filed with the SEC.
A number of other institutional investors have also recently increased or reduced their stake in QCOM. Norges Bank acquired a new position in QUALCOMM in Q4 worth approximately $2,266,923,000. BlackRock Inc. increased its stake in QUALCOMM shares by 4.3% during the 4th quarter. BlackRock Inc. now owns 81,379,537 shares of the wireless technology company worth $14,881,876,000 after buying 3,319,939 additional shares in the last quarter. Capital International Investors increased its equity stake in QUALCOMM by 63.2% during the 4th quarter. Capital International Investors now owns 6,843,216 shares of the wireless technology company worth $1,251,413,000 after buying 2,648,829 additional shares in the last quarter. Nuveen Asset Management LLC increased its equity stake in QUALCOMM by 37.2% during the 4th quarter. Nuveen Asset Management LLC now owns 8,468,283 shares of the wireless technology company worth $1,548,596,000 after buying 2,294,400 additional shares in the last quarter. Finally, Alliancebernstein LP increased its stake in QUALCOMM shares by 10.6% during the 4th quarter. Alliancebernstein LP now owns 20,174,284 shares of the wireless technology company worth $3,689,271,000 after buying an additional 1,934,339 shares in the last quarter. Hedge funds and other institutional investors own 73.61% of the company’s shares.
Separately, CAO Erin L. Polek sold 1,521 QUALCOMM shares in a trade dated Monday, May 23. The shares were sold at an average price of $129.95, for a total transaction of $197,653.95. The sale was disclosed in a filing with the Securities & Exchange Commission, accessible via this link. Insiders of the company own 0.05% of the shares of the company.
Several brokerages have recently commented on QCOM. Deutsche Bank Aktiengesellschaft lowered its price target on QUALCOMM shares from $210.00 to $190.00 and placed a “buy” rating on the stock in a Wednesday, April 20 research note. Morgan Stanley raised its price target on QUALCOMM shares from $167.00 to $170.00 in a Thursday, April 28 research note. Barclays lowered its target price on QUALCOMM shares from $185.00 to $160.00 and set an “equal weight” rating on the stock in a Monday April 25 research note. Susquehanna Bancshares lowered its target price on QUALCOMM shares from $190.00 to $165.00 in a Thursday, April 28 research note. Finally, StockNews.com downgraded QUALCOMM shares from a “strong buy” rating to a “buy” rating in a research rating on Monday. Nine equity research analysts gave the stock a hold rating, fifteen gave the company a buy rating and one gave the company a strong buy rating. According to data from MarketBeat, the stock currently has an average rating of “moderate buy” and a consensus target price of $196.48.
NASDAQ:QCOM opened at $125.83 on Wednesday. The company has a 50-day moving average of $133.66 and a 200-day moving average of $153.32. The company has a market capitalization of $140.93 billion, a price/earnings ratio of 12.88, a PEG ratio of 0.68 and a beta of 1.20. QUALCOMM Incorporated has a 52-week low of $118.22 and a 52-week high of $193.58. The company has a debt ratio of 0.91, a quick ratio of 1.27 and a current ratio of 1.61.
QUALCOMM (NASDAQ:QCOM – Get Rating) last released its quarterly earnings data on Wednesday, April 27. The wireless technology company reported EPS of $2.86 for the quarter, beating analyst consensus estimates of $2.67 by $0.19. The company posted revenue of $11.16 billion in the quarter, versus a consensus estimate of $10.58 billion. QUALCOMM had a net margin of 28.42% and a return on equity of 103.73%. During the same period last year, the company achieved EPS of $1.59. Sell-side analysts expect QUALCOMM Incorporated to post EPS of 11.12 for the current year.
The company also recently declared a quarterly dividend, which was paid on Thursday, June 23. Investors of record on Thursday, June 2 received a dividend of $0.75 per share. This is an increase from QUALCOMM’s previous quarterly dividend of $0.68. This represents an annualized dividend of $3.00 and a yield of 2.38%. The ex-dividend date was Wednesday, June 1. QUALCOMM’s dividend payout ratio (DPR) is currently 30.71%.
About QUALCOMM (Get a rating)
QUALCOMM Incorporated is committed to the development and commercialization of fundamental technologies for the wireless industry worldwide. The Company operates through three segments: Qualcomm CDMA Technologies (QCT); Qualcomm Technology License (QTL); and Qualcomm Strategic Initiatives (QSI). The QCT segment develops and provides 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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