Hikari Tsushin Inc. lifted its position in shares of QUALCOMM, Inc. (NASDAQ:QCOM) by 104.9% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 13,303 shares of the wireless technology company’s stock after purchasing an additional 6,810 shares during the quarter. Hikari Tsushin Inc.’s holdings in QUALCOMM were worth $737,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently made changes to their positions in QCOM. Truewealth LLC bought a new position in shares of QUALCOMM during the fourth quarter worth $102,000. Aristotle Capital Management LLC bought a new stake in QUALCOMM in the 1st quarter valued at $105,000. We Are One Seven LLC bought a new stake in QUALCOMM in the 4th quarter valued at $119,000. Gradient Investments LLC bought a new stake in QUALCOMM in the 4th quarter valued at $120,000. Finally, Institutional & Family Asset Management LLC bought a new stake in QUALCOMM in the 1st quarter valued at $121,000. 76.99% of the stock is currently owned by institutional investors.
Several equities research analysts recently commented on the stock. BidaskClub raised shares of QUALCOMM from a “sell” rating to a “hold” rating in a research report on Saturday, May 26th. Cowen assumed coverage on shares of QUALCOMM in a research report on Thursday, May 17th. They issued a “market perform” rating and a $58.00 price objective on the stock. ValuEngine raised shares of QUALCOMM from a “hold” rating to a “buy” rating in a research report on Tuesday, May 1st. Zacks Investment Research cut shares of QUALCOMM from a “hold” rating to a “sell” rating in a research report on Monday, April 30th. Finally, Canaccord Genuity cut their price objective on shares of QUALCOMM from $79.00 to $75.00 and set a “buy” rating on the stock in a research report on Thursday, April 26th. Two equities research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and eleven have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $63.67.
QCOM stock traded up $0.34 during midday trading on Thursday, hitting $59.56. The company’s stock had a trading volume of 70,326 shares, compared to its average volume of 11,819,359. The firm has a market capitalization of $88.87 billion, a P/E ratio of 15.67, a PEG ratio of 1.93 and a beta of 1.50. QUALCOMM, Inc. has a twelve month low of $48.56 and a twelve month high of $69.28. The company has a current ratio of 3.60, a quick ratio of 3.46 and a debt-to-equity ratio of 0.81.
QUALCOMM (NASDAQ:QCOM) last released its quarterly earnings data on Wednesday, April 25th. The wireless technology company reported $0.80 earnings per share for the quarter, topping the consensus estimate of $0.70 by $0.10. The company had revenue of $5.20 billion for the quarter, compared to analyst estimates of $5.21 billion. QUALCOMM had a negative net margin of 20.16% and a positive return on equity of 16.48%. QUALCOMM’s revenue for the quarter was down 13.3% compared to the same quarter last year. During the same period in the previous year, the business earned $1.34 EPS. equities research analysts forecast that QUALCOMM, Inc. will post 2.71 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 20th. Stockholders of record on Wednesday, May 30th will be paid a dividend of $0.62 per share. The ex-dividend date is Tuesday, May 29th. This is a positive change from QUALCOMM’s previous quarterly dividend of $0.57. This represents a $2.48 annualized dividend and a dividend yield of 4.16%. QUALCOMM’s payout ratio is currently 65.61%.
QUALCOMM declared that its board has authorized a stock repurchase program on Wednesday, May 9th that permits the company to buyback $10.00 billion in outstanding shares. This buyback authorization permits the wireless technology company to purchase up to 12.7% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.
QUALCOMM Incorporated designs, develops, manufactures, and markets digital communication products worldwide. It 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 code division multiple access (CDMA), orthogonal frequency division multiple access, and other technologies for use in wireless voice and data communications, networking, application processing, multimedia, and global positioning system products.
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