Holowesko Partners Ltd. raised its holdings in QUALCOMM Incorporated (NASDAQ:QCOM – Free Report) by 5.9% in the first quarter, Holdings Channel.com reports. The fund owned 216,600 shares of the wireless technology company’s stock after buying an additional 12,000 shares during the quarter. QUALCOMM makes up 14.5% of Holowesko Partners Ltd.’s investment portfolio, making the stock its largest position. Holowesko Partners Ltd.’s holdings in QUALCOMM were worth $27,634,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. TD Capital Management LLC lifted its holdings in QUALCOMM by 118.8% in the first quarter. TD Capital Management LLC now owns 221 shares of the wireless technology company’s stock valued at $28,000 after acquiring an additional 120 shares during the period. Corrado Advisors LLC acquired a new stake in QUALCOMM in the 4th quarter valued at about $27,000. Ruedi Wealth Management Inc. purchased a new position in QUALCOMM during the 4th quarter valued at about $28,000. Oliver Lagore Vanvalin Investment Group raised its position in QUALCOMM by 53.9% during the fourth quarter. Oliver Lagore Vanvalin Investment Group now owns 257 shares of the wireless technology company’s stock worth $28,000 after acquiring an additional 90 shares during the last quarter. Finally, Tanglewood Legacy Advisors LLC acquired a new position in QUALCOMM during the fourth quarter worth about $32,000. Institutional investors and hedge funds own 71.10% of the company’s stock.
Insiders Place Their Bets
In other QUALCOMM news, insider James J. Cathey sold 1,000 shares of the business’s stock in a transaction that occurred on Friday, August 11th. The shares were sold at an average price of $114.16, for a total transaction of $114,160.00. Following the completion of the sale, the insider now directly owns 6,745 shares in the company, valued at $770,009.20. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.07% of the stock is owned by insiders.
QUALCOMM Trading Up 0.7 %
QUALCOMM (NASDAQ:QCOM – Get Free Report) last released its quarterly earnings data on Wednesday, August 2nd. The wireless technology company reported $1.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.35 by $0.05. QUALCOMM had a net margin of 22.33% and a return on equity of 45.94%. The company had revenue of $8.45 billion during the quarter, compared to the consensus estimate of $8.51 billion. As a group, equities analysts expect that QUALCOMM Incorporated will post 6.41 earnings per share for the current fiscal year.
QUALCOMM Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 21st. Shareholders of record on Thursday, August 31st will be paid a dividend of $0.80 per share. The ex-dividend date of this dividend is Wednesday, August 30th. This represents a $3.20 annualized dividend and a yield of 2.77%. QUALCOMM’s dividend payout ratio is currently 41.88%.
Wall Street Analysts Forecast Growth
A number of equities analysts have issued reports on the stock. JPMorgan Chase & Co. cut their target price on shares of QUALCOMM from $159.00 to $148.00 in a research report on Thursday, August 3rd. UBS Group lifted their target price on shares of QUALCOMM from $120.00 to $130.00 and gave the stock a “neutral” rating in a research report on Monday, July 24th. Susquehanna cut their target price on shares of QUALCOMM from $145.00 to $140.00 and set a “positive” rating for the company in a research report on Thursday, August 3rd. Deutsche Bank Aktiengesellschaft cut shares of QUALCOMM from a “buy” rating to a “hold” rating and cut their target price for the stock from $130.00 to $121.00 in a research report on Thursday, August 3rd. Finally, Bank of America lifted their price target on shares of QUALCOMM from $130.00 to $145.00 in a report on Friday, June 16th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and fifteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $143.26.
QUALCOMM Incorporated engages in the development and commercialization of foundational technologies for the wireless industry 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 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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