QUALCOMM, Inc. (NASDAQ:QCOM) Shares Bought by Oak Ridge Investments LLC
Oak Ridge Investments LLC grew its holdings in shares of QUALCOMM, Inc. (NASDAQ:QCOM) by 331.9% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 83,679 shares of the wireless technology company’s stock after purchasing an additional 64,306 shares during the quarter. Oak Ridge Investments LLC’s holdings in QUALCOMM were worth $5,661,000 at the end of the most recent quarter.
Several other hedge funds have also recently made changes to their positions in QCOM. Samalin Investment Counsel LLC acquired a new position in shares of QUALCOMM during the 4th quarter valued at about $27,000. FSA Wealth Management LLC acquired a new position in shares of QUALCOMM during the 4th quarter valued at about $27,000. Howard Wealth Management LLC acquired a new position in shares of QUALCOMM during the 4th quarter valued at about $31,000. AlphaMark Advisors LLC purchased a new stake in QUALCOMM in the 4th quarter valued at about $31,000. Finally, BerganKDV Wealth Management LLC purchased a new stake in QUALCOMM in the 4th quarter valued at about $31,000. 74.56% of the stock is currently owned by hedge funds and other institutional investors.
QCOM has been the topic of several research analyst reports. Cowen boosted their price objective on shares of QUALCOMM from $100.00 to $105.00 and gave the company an “outperform” rating in a report on Thursday, February 6th. Mizuho reduced their price objective on shares of QUALCOMM from $95.00 to $91.00 and set a “buy” rating on the stock in a report on Wednesday, April 29th. Charter Equity restated a “hold” rating on shares of QUALCOMM in a report on Thursday, April 30th. Piper Sandler started coverage on shares of QUALCOMM in a research note on Wednesday, March 4th. They set a “neutral” rating and a $80.00 price target on the stock. Finally, Goldman Sachs Group lowered shares of QUALCOMM from a “neutral” rating to a “sell” rating and cut their price target for the stock from $77.00 to $61.00 in a research note on Friday, April 17th. Four analysts have rated the stock with a sell rating, eight have issued a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company. QUALCOMM currently has an average rating of “Hold” and an average price target of $89.77.
QCOM traded down $0.54 on Wednesday, reaching $84.09. The company’s stock had a trading volume of 10,677,034 shares, compared to its average volume of 9,386,989. The stock has a 50 day moving average of $77.41 and a two-hundred day moving average of $81.59. The company has a quick ratio of 1.39, a current ratio of 1.57 and a debt-to-equity ratio of 4.42. The company has a market capitalization of $89.69 billion, a price-to-earnings ratio of 24.83, a P/E/G ratio of 1.41 and a beta of 1.35. QUALCOMM, Inc. has a fifty-two week low of $58.00 and a fifty-two week high of $96.17.
QUALCOMM (NASDAQ:QCOM) last announced its quarterly earnings results on Wednesday, April 29th. The wireless technology company reported $0.88 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.79 by $0.09. The firm had revenue of $5.21 billion during the quarter, compared to the consensus estimate of $5.04 billion. QUALCOMM had a return on equity of 69.92% and a net margin of 16.36%. The firm’s quarterly revenue was up 6.6% compared to the same quarter last year. During the same period in the prior year, the company posted $0.77 earnings per share. As a group, analysts anticipate that QUALCOMM, Inc. will post 3.08 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 25th. Investors of record on Thursday, June 4th will be issued a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a yield of 3.09%. This is an increase from QUALCOMM’s previous quarterly dividend of $0.62. The ex-dividend date is Wednesday, June 3rd. QUALCOMM’s dividend payout ratio is 87.32%.
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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