KG&L Capital Management LLC raised its position in QUALCOMM, Inc. (NASDAQ:QCOM) by 20.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 23,792 shares of the wireless technology company’s stock after acquiring an additional 4,068 shares during the quarter. QUALCOMM accounts for about 1.4% of KG&L Capital Management LLC’s investment portfolio, making the stock its 17th largest holding. KG&L Capital Management LLC’s holdings in QUALCOMM were worth $1,355,000 at the end of the most recent reporting period.
A number of other large investors have also recently modified their holdings of the business. HL Financial Services LLC grew its position in QUALCOMM by 0.6% in the first quarter. HL Financial Services LLC now owns 20,371 shares of the wireless technology company’s stock valued at $1,162,000 after acquiring an additional 128 shares in the last quarter. Harrington Investments INC grew its position in shares of QUALCOMM by 1.1% during the first quarter. Harrington Investments INC now owns 13,751 shares of the wireless technology company’s stock worth $784,000 after buying an additional 150 shares in the last quarter. Atlas Brown Inc. grew its position in shares of QUALCOMM by 3.5% during the first quarter. Atlas Brown Inc. now owns 5,305 shares of the wireless technology company’s stock worth $303,000 after buying an additional 179 shares in the last quarter. Paulson Wealth Management Inc. grew its position in shares of QUALCOMM by 3.3% during the first quarter. Paulson Wealth Management Inc. now owns 5,920 shares of the wireless technology company’s stock worth $338,000 after buying an additional 191 shares in the last quarter. Finally, ACG Wealth grew its position in shares of QUALCOMM by 2.6% during the first quarter. ACG Wealth now owns 7,749 shares of the wireless technology company’s stock worth $442,000 after buying an additional 197 shares in the last quarter. 77.95% of the stock is owned by institutional investors.
In related news, President Cristiano R. Amon sold 13,466 shares of the firm’s stock in a transaction on Tuesday, April 16th. The stock was sold at an average price of $60.00, for a total transaction of $807,960.00. Following the transaction, the president now directly owns 37,614 shares in the company, valued at $2,256,840. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Clark T. Jr. Randt sold 2,000 shares of the firm’s stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $89.58, for a total value of $179,160.00. The disclosure for this sale can be found here. Insiders have sold 949,832 shares of company stock worth $37,443,538 over the last 90 days. 0.11% of the stock is currently owned by company insiders.
A number of research firms have recently weighed in on QCOM. Macquarie set a $90.00 price target on shares of QUALCOMM and gave the stock a “buy” rating in a research report on Thursday. Bank of America dropped coverage on shares of QUALCOMM in a research report on Thursday. Cfra set a $80.00 price target on shares of QUALCOMM and gave the stock a “buy” rating in a research report on Thursday. Deutsche Bank downgraded shares of QUALCOMM from a “buy” rating to a “hold” rating and decreased their price target for the stock from $98.00 to $74.00 in a research report on Thursday. Finally, DZ Bank downgraded shares of QUALCOMM from a “buy” rating to a “hold” rating and decreased their price target for the stock from $98.00 to $74.00 in a research report on Thursday. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. QUALCOMM has an average rating of “Buy” and an average target price of $80.05.
Shares of QCOM opened at $66.21 on Friday. QUALCOMM, Inc. has a 12-month low of $49.10 and a 12-month high of $90.34. The firm has a market cap of $80.49 billion, a P/E ratio of 20.76, a PEG ratio of 1.71 and a beta of 1.45. The company has a current ratio of 1.55, a quick ratio of 1.39 and a debt-to-equity ratio of 3.98.
QUALCOMM (NASDAQ:QCOM) last announced its quarterly earnings data on Wednesday, May 1st. The wireless technology company reported $0.61 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.54 by $0.07. QUALCOMM had a return on equity of 56.69% and a net margin of 11.57%. The firm had revenue of $4.88 billion for the quarter, compared to analysts’ expectations of $4.83 billion. During the same period last year, the business posted $0.80 earnings per share. The firm’s revenue for the quarter was down 5.9% on a year-over-year basis. As a group, analysts predict that QUALCOMM, Inc. will post 3.32 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 27th. Investors of record on Thursday, June 6th will be paid a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a yield of 3.75%. The ex-dividend date of this dividend is Wednesday, June 5th. QUALCOMM’s dividend payout ratio (DPR) is presently 77.74%.
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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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