Fairfield Bush & CO. Trims Position in QUALCOMM, Inc. (NASDAQ:QCOM)
Fairfield Bush & CO. decreased its stake in shares of QUALCOMM, Inc. (NASDAQ:QCOM) by 1.6% in the first quarter, Holdings Channel.com reports. The fund owned 25,949 shares of the wireless technology company’s stock after selling 425 shares during the period. Fairfield Bush & CO.’s holdings in QUALCOMM were worth $1,755,000 at the end of the most recent reporting period.
Several other large investors also recently modified their holdings of QCOM. Adell Harriman & Carpenter Inc. lifted its holdings in QUALCOMM by 1.9% in the fourth quarter. Adell Harriman & Carpenter Inc. now owns 61,514 shares of the wireless technology company’s stock valued at $5,427,000 after acquiring an additional 1,124 shares during the period. 360 Financial Inc. acquired a new position in QUALCOMM during the 4th quarter worth approximately $309,000. Waldron Private Wealth LLC lifted its position in QUALCOMM by 24.9% during the 1st quarter. Waldron Private Wealth LLC now owns 41,508 shares of the wireless technology company’s stock worth $2,808,000 after acquiring an additional 8,268 shares in the last quarter. ANTIPODES PARTNERS Ltd increased its holdings in QUALCOMM by 5.1% during the 4th quarter. ANTIPODES PARTNERS Ltd now owns 1,133,042 shares of the wireless technology company’s stock worth $99,968,000 after purchasing an additional 55,395 shares during the last quarter. Finally, Stock Yards Bank & Trust Co. increased its holdings in QUALCOMM by 1.8% during the 1st quarter. Stock Yards Bank & Trust Co. now owns 30,659 shares of the wireless technology company’s stock worth $2,074,000 after purchasing an additional 545 shares during the last quarter. Hedge funds and other institutional investors own 74.56% of the company’s stock.
Shares of QUALCOMM stock traded down $0.52 during trading on Wednesday, hitting $84.11. The stock had a trading volume of 12,974,995 shares, compared to its average volume of 9,386,989. The firm’s fifty day simple moving average is $77.41 and its 200-day simple moving average is $81.59. The stock has a market cap of $89.69 billion, a PE ratio of 24.83, a PEG ratio of 1.41 and a beta of 1.35. The company has a debt-to-equity ratio of 4.42, a current ratio of 1.57 and a quick ratio of 1.39. QUALCOMM, Inc. has a 12 month low of $58.00 and a 12 month high of $96.17.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 25th. Shareholders of record on Thursday, June 4th will be given a dividend of $0.65 per share. This is an increase from QUALCOMM’s previous quarterly dividend of $0.62. The ex-dividend date is Wednesday, June 3rd. This represents a $2.60 dividend on an annualized basis and a yield of 3.09%. QUALCOMM’s dividend payout ratio (DPR) is 87.32%.
A number of research analysts recently commented on QCOM shares. Cowen upped their price objective on QUALCOMM from $100.00 to $105.00 and gave the stock an “outperform” rating in a research note on Thursday, February 6th. Morgan Stanley upped their price target on QUALCOMM from $78.00 to $83.00 and gave the stock an “equal weight” rating in a research note on Thursday, April 30th. Daiwa Capital Markets raised QUALCOMM from a “neutral” rating to an “outperform” rating in a report on Tuesday, February 11th. Deutsche Bank raised QUALCOMM from a “hold” rating to a “buy” rating and set a $85.00 target price for the company in a research note on Friday, March 27th. Finally, Charter Equity reissued a “hold” rating on shares of QUALCOMM in a research note on Thursday, April 30th. Four investment analysts have rated the stock with a sell rating, eight have issued a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company. QUALCOMM currently has an average rating of “Hold” and a consensus price target of $89.77.
In related news, CAO Erin L. Polek sold 1,646 shares of QUALCOMM stock in a transaction that occurred on Thursday, May 21st. The shares were sold at an average price of $79.47, for a total value of $130,807.62. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.12% of the stock is owned by insiders.
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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