Park National Corp OH reduced its stake in shares of QUALCOMM, Inc. (NASDAQ:QCOM) by 10.6% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 9,164 shares of the wireless technology company’s stock after selling 1,092 shares during the quarter. Park National Corp OH’s holdings in QUALCOMM were worth $522,000 at the end of the most recent reporting period.
A number of other hedge funds also recently made changes to their positions in QCOM. Liberty Wealth Management LLC purchased a new stake in shares of QUALCOMM during the fourth quarter worth approximately $77,000. Pinnacle Bank acquired a new position in QUALCOMM during the fourth quarter worth $293,000. Jackson Hole Capital Partners LLC acquired a new position in QUALCOMM during the fourth quarter worth $720,000. Valueworks LLC boosted its stake in QUALCOMM by 7.3% during the fourth quarter. Valueworks LLC now owns 143,416 shares of the wireless technology company’s stock worth $8,162,000 after buying an additional 9,741 shares during the last quarter. Finally, American Century Companies Inc. boosted its stake in QUALCOMM by 24.7% during the fourth quarter. American Century Companies Inc. now owns 2,090,201 shares of the wireless technology company’s stock worth $118,953,000 after buying an additional 413,531 shares during the last quarter. Institutional investors own 83.69% of the company’s stock.
A number of equities analysts have weighed in on QCOM shares. BidaskClub lowered QUALCOMM from a “buy” rating to a “hold” rating in a research note on Monday, January 7th. Zacks Investment Research lowered QUALCOMM from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 8th. Evercore ISI reaffirmed an “in-line” rating and issued a $60.00 price target (down previously from $68.00) on shares of QUALCOMM in a research note on Monday, January 14th. Barclays reaffirmed a “buy” rating and issued a $70.00 price target on shares of QUALCOMM in a research note on Friday, January 18th. Finally, Cowen reaffirmed an “outperform” rating and issued a $70.00 price target (down previously from $73.00) on shares of QUALCOMM in a research note on Thursday, January 31st. Eight research analysts have rated the stock with a hold rating and twenty have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $77.13.
QUALCOMM (NASDAQ:QCOM) last issued its quarterly earnings results on Wednesday, January 30th. The wireless technology company reported $1.20 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.09 by $0.11. QUALCOMM had a return on equity of 36.66% and a net margin of 10.03%. The company had revenue of $4.80 billion for the quarter, compared to the consensus estimate of $4.89 billion. During the same quarter in the prior year, the business earned $0.98 EPS. QUALCOMM’s revenue was down 21.3% on a year-over-year basis. Equities research analysts anticipate that QUALCOMM, Inc. will post 3.14 earnings per share for the current fiscal year.
In other news, major shareholder Inc/De Qualcomm sold 848,877 shares of the stock in a transaction dated Tuesday, April 23rd. The stock was sold at an average price of $34.20, for a total value of $29,031,593.40. Following the transaction, the insider now owns 848,877 shares in the company, valued at approximately $29,031,593.40. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, President Cristiano R. Amon sold 13,466 shares of the stock in a transaction dated Tuesday, April 16th. The shares were sold at an average price of $60.00, for a total value of $807,960.00. Following the completion of the transaction, the president now owns 37,614 shares in the company, valued at approximately $2,256,840. The disclosure for this sale can be found here. In the last quarter, insiders sold 902,343 shares of company stock worth $31,869,553. Company insiders own 0.11% of the company’s stock.
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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