Magnolia Capital Management Ltd. lowered its position in QUALCOMM Incorporated (NASDAQ:QCOM – Get Rating) by 1.3% in the 4th quarter, Holdings Channel reports. The institutional investor owned 7,410 shares of the wireless technology company’s stock after selling 100 shares during the period. QUALCOMM comprises approximately 1.1% of Magnolia Capital Management Ltd.’s investment portfolio, making the stock its 23rd largest position. Magnolia Capital Management Ltd.’s holdings in QUALCOMM were worth $1,355,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also recently modified their holdings of QCOM. Financial Enhancement Group LLC purchased a new stake in shares of QUALCOMM during the third quarter valued at approximately $26,000. Lloyd Advisory Services LLC. increased its holdings in shares of QUALCOMM by 117.3% during the third quarter. Lloyd Advisory Services LLC. now owns 213 shares of the wireless technology company’s stock valued at $27,000 after acquiring an additional 115 shares in the last quarter. Bray Capital Advisors boosted its position in shares of QUALCOMM by 128.0% during the third quarter. Bray Capital Advisors now owns 228 shares of the wireless technology company’s stock valued at $29,000 after buying an additional 128 shares during the last quarter. Itau Unibanco Holding S.A. purchased a new stake in shares of QUALCOMM during the second quarter valued at $34,000. Finally, Ten Capital Wealth Advisors LLC boosted its position in QUALCOMM by 263.2% in the third quarter. Ten Capital Wealth Advisors LLC now owns 276 shares of the wireless technology company’s stock worth $36,000 after purchasing an additional 200 shares during the last quarter. 72.78% of the stock is owned by institutional investors and hedge funds.
In other news, insider Alexander H. Rogers sold 21,006 shares of the stock in a transaction dated Tuesday, December 7th. The stock was sold at an average price of $179.94, for a total value of $3,779,819.64. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CFO Akash J. Palkhiwala sold 3,100 shares of the stock in a transaction dated Thursday, February 10th. The shares were sold at an average price of $179.83, for a total value of $557,473.00. The disclosure for this sale can be found here. Insiders have sold a total of 44,550 shares of company stock worth $8,113,010 over the last ninety days. 0.05% of the stock is currently owned by corporate insiders.
Shares of QCOM traded down $1.08 during trading hours on Tuesday, hitting $170.91. The company had a trading volume of 120,545 shares, compared to its average volume of 11,557,724. The company has a market capitalization of $191.42 billion, a PE ratio of 19.70, a price-to-earnings-growth ratio of 0.98 and a beta of 1.24. The company has a current ratio of 1.65, a quick ratio of 1.33 and a debt-to-equity ratio of 1.21. QUALCOMM Incorporated has a one year low of $122.17 and a one year high of $193.58. The company’s fifty day moving average price is $176.58 and its two-hundred day moving average price is $159.86.
QUALCOMM (NASDAQ:QCOM – Get Rating) last released its quarterly earnings results on Wednesday, February 2nd. The wireless technology company reported $3.23 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $3.01 by $0.22. The firm had revenue of $10.70 billion during the quarter, compared to analyst estimates of $10.43 billion. QUALCOMM had a return on equity of 104.90% and a net margin of 27.71%. The business’s revenue for the quarter was up 30.0% compared to the same quarter last year. During the same period in the previous year, the company posted $1.97 EPS. Analysts forecast that QUALCOMM Incorporated will post 10.65 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 24th. Investors of record on Thursday, March 3rd will be given a dividend of $0.68 per share. This represents a $2.72 annualized dividend and a yield of 1.59%. The ex-dividend date of this dividend is Wednesday, March 2nd. QUALCOMM’s dividend payout ratio is currently 31.16%.
Several research analysts have issued reports on QCOM shares. Raymond James raised their target price on QUALCOMM from $190.00 to $222.00 and gave the stock a “strong-buy” rating in a research report on Thursday, February 3rd. Barclays lifted their price objective on QUALCOMM from $180.00 to $185.00 in a research report on Wednesday, January 12th. Sanford C. Bernstein lifted their price objective on QUALCOMM from $225.00 to $250.00 and gave the company an “outperform” rating in a research report on Thursday, February 3rd. JPMorgan Chase & Co. lifted their target price on QUALCOMM from $225.00 to $240.00 and gave the company an “overweight” rating in a research note on Thursday, February 3rd. Finally, Robert W. Baird lifted their target price on QUALCOMM from $200.00 to $250.00 in a research note on Friday, February 4th. Nine equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, QUALCOMM presently has an average rating of “Buy” and a consensus price target of $203.16.
QUALCOMM Company Profile (Get Rating)
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.
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