Delta Capital Management LLC reduced its stake in shares of QUALCOMM, Inc. (NASDAQ:QCOM) by 0.5% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 40,135 shares of the wireless technology company’s stock after selling 200 shares during the period. Delta Capital Management LLC’s holdings in QUALCOMM were worth $2,289,000 as of its most recent SEC filing.
Several other institutional investors also recently modified their holdings of the company. Mathes Company Inc. increased its position in shares of QUALCOMM by 190.0% during the fourth quarter. Mathes Company Inc. now owns 8,700 shares of the wireless technology company’s stock worth $495,000 after acquiring an additional 5,700 shares during the period. Epstein & White Financial LLC increased its position in shares of QUALCOMM by 34.4% during the fourth quarter. Epstein & White Financial LLC now owns 9,752 shares of the wireless technology company’s stock worth $555,000 after acquiring an additional 2,495 shares during the period. Bogart Wealth LLC increased its position in shares of QUALCOMM by 6.1% during the first quarter. Bogart Wealth LLC now owns 10,342 shares of the wireless technology company’s stock worth $589,000 after acquiring an additional 591 shares during the period. First American Bank increased its position in shares of QUALCOMM by 4.5% during the fourth quarter. First American Bank now owns 27,282 shares of the wireless technology company’s stock worth $1,552,000 after acquiring an additional 1,166 shares during the period. Finally, Clear Harbor Asset Management LLC increased its position in shares of QUALCOMM by 4.8% during the fourth quarter. Clear Harbor Asset Management LLC now owns 16,942 shares of the wireless technology company’s stock worth $964,000 after acquiring an additional 778 shares during the period. Institutional investors and hedge funds own 83.70% of the company’s stock.
Shares of QCOM stock opened at $70.45 on Wednesday. The company has a debt-to-equity ratio of 4.25, a current ratio of 1.54 and a quick ratio of 1.38. The firm has a market cap of $69.21 billion, a P/E ratio of 22.08, a PEG ratio of 1.81 and a beta of 1.22. QUALCOMM, Inc. has a 12 month low of $48.56 and a 12 month high of $76.50.
QUALCOMM (NASDAQ:QCOM) last issued its earnings results on Wednesday, January 30th. The wireless technology company reported $1.20 EPS for the quarter, topping analysts’ consensus estimates of $1.09 by $0.11. The firm had revenue of $4.80 billion during the quarter, compared to the consensus estimate of $4.89 billion. QUALCOMM had a net margin of 10.03% and a return on equity of 36.66%. The company’s revenue was down 21.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.98 earnings per share. On average, sell-side analysts anticipate that QUALCOMM, Inc. will post 3.21 earnings per share for the current year.
In related news, EVP James H. Thompson sold 40,000 shares of the business’s stock in a transaction on Monday, February 11th. The shares were sold at an average price of $50.75, for a total transaction of $2,030,000.00. Following the completion of the transaction, the executive vice president now owns 62,301 shares in the company, valued at $3,161,775.75. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 0.11% of the company’s stock.
A number of research firms have recently weighed in on QCOM. Zacks Investment Research raised QUALCOMM from a “hold” rating to a “buy” rating and set a $58.00 price objective on the stock in a research report on Wednesday, February 13th. JPMorgan Chase & Co. began coverage on QUALCOMM in a research report on Wednesday, March 27th. They set a “neutral” rating and a $54.00 price objective on the stock. BidaskClub lowered QUALCOMM from a “sell” rating to a “strong sell” rating in a research report on Tuesday, January 29th. Raymond James set a $65.00 price objective on QUALCOMM and gave the stock a “buy” rating in a research report on Saturday, February 2nd. Finally, Barclays reaffirmed a “buy” rating and set a $70.00 price objective on shares of QUALCOMM in a research report on Friday, January 18th. Eleven research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. QUALCOMM currently has a consensus rating of “Buy” and an average target price of $65.95.
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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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