1832 Asset Management L.P. increased its position in shares of QUALCOMM, Inc. (NASDAQ:QCOM) by 288.1% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,039 shares of the wireless technology company’s stock after purchasing an additional 2,256 shares during the quarter. 1832 Asset Management L.P.’s holdings in QUALCOMM were worth $173,000 at the end of the most recent quarter.
Several other institutional investors have also recently made changes to their positions in QCOM. Oregon Public Employees Retirement Fund lifted its stake in QUALCOMM by 9,505.7% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 33,612,696 shares of the wireless technology company’s stock valued at $591,000 after buying an additional 33,262,770 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in shares of QUALCOMM by 24.1% in the fourth quarter. Bank of New York Mellon Corp now owns 25,852,938 shares of the wireless technology company’s stock valued at $1,471,289,000 after purchasing an additional 5,022,323 shares during the last quarter. Morgan Stanley raised its holdings in shares of QUALCOMM by 163.2% in the third quarter. Morgan Stanley now owns 18,891,278 shares of the wireless technology company’s stock valued at $1,360,740,000 after purchasing an additional 11,713,988 shares during the last quarter. Capital World Investors raised its holdings in shares of QUALCOMM by 33.5% in the third quarter. Capital World Investors now owns 18,580,637 shares of the wireless technology company’s stock valued at $1,338,363,000 after purchasing an additional 4,662,437 shares during the last quarter. Finally, Clearbridge Investments LLC raised its holdings in shares of QUALCOMM by 28.8% in the third quarter. Clearbridge Investments LLC now owns 9,192,851 shares of the wireless technology company’s stock valued at $662,161,000 after purchasing an additional 2,058,096 shares during the last quarter. Institutional investors and hedge funds own 83.69% of the company’s stock.
A number of equities analysts recently weighed in on QCOM shares. BidaskClub upgraded shares of QUALCOMM from a “hold” rating to a “buy” rating in a report on Thursday, December 20th. Zacks Investment Research cut shares of QUALCOMM from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 8th. Evercore ISI reaffirmed an “in-line” rating and set a $60.00 price objective (down from $68.00) on shares of QUALCOMM in a research report on Monday, January 14th. Barclays reaffirmed a “buy” rating and set a $70.00 price objective on shares of QUALCOMM in a research report on Friday, January 18th. Finally, Cowen reissued an “outperform” rating and issued a $70.00 target price (down previously from $73.00) on shares of QUALCOMM in a research report on Thursday, January 31st. Thirteen research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $65.95.
Shares of QUALCOMM stock traded up $0.23 on Monday, reaching $57.18. 10,098,640 shares of the company’s stock were exchanged, compared to its average volume of 14,075,580. QUALCOMM, Inc. has a 52 week low of $48.56 and a 52 week high of $76.50. The company has a debt-to-equity ratio of 4.25, a quick ratio of 1.38 and a current ratio of 1.54. The stock has a market capitalization of $68.93 billion, a price-to-earnings ratio of 17.92, a PEG ratio of 1.77 and a beta of 1.22.
QUALCOMM (NASDAQ:QCOM) last issued its earnings results on Wednesday, January 30th. The wireless technology company reported $1.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.09 by $0.11. The company had revenue of $4.80 billion for the quarter, compared to analysts’ expectations of $4.89 billion. QUALCOMM had a return on equity of 36.66% and a net margin of 10.03%. QUALCOMM’s quarterly revenue was down 21.3% compared to the same quarter last year. During the same period last year, the business earned $0.98 EPS. On average, equities research analysts forecast that QUALCOMM, Inc. will post 3.21 EPS for the current year.
QUALCOMM Company Profile
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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