Bank of Montreal Can Acquires 1,208,659 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Bank of Montreal Can raised its position in shares of QUALCOMM Incorporated (NASDAQ:QCOMGet Rating) by 42.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,056,374 shares of the wireless technology company’s stock after acquiring an additional 1,208,659 shares during the quarter. Bank of Montreal Can owned about 0.36% of QUALCOMM worth $745,318,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Ten Capital Wealth Advisors LLC raised its holdings in shares of QUALCOMM by 263.2% during the third quarter. Ten Capital Wealth Advisors LLC now owns 276 shares of the wireless technology company’s stock valued at $36,000 after purchasing an additional 200 shares during the period. MFA Wealth Advisors LLC purchased a new stake in QUALCOMM in the 3rd quarter valued at about $36,000. Jackson Wealth Management LLC increased its stake in QUALCOMM by 0.3% in the 3rd quarter. Jackson Wealth Management LLC now owns 39,836 shares of the wireless technology company’s stock valued at $37,000 after buying an additional 103 shares during the last quarter. Old North State Trust LLC increased its stake in QUALCOMM by 58.9% in the 4th quarter. Old North State Trust LLC now owns 205 shares of the wireless technology company’s stock valued at $37,000 after buying an additional 76 shares during the last quarter. Finally, Stuart Chaussee & Associates Inc. increased its stake in QUALCOMM by 49.6% in the 4th quarter. Stuart Chaussee & Associates Inc. now owns 202 shares of the wireless technology company’s stock valued at $37,000 after buying an additional 67 shares during the last quarter. 73.61% of the stock is currently owned by institutional investors and hedge funds.

QCOM has been the subject of a number of research reports. Canaccord Genuity Group increased their target price on shares of QUALCOMM from $225.00 to $250.00 and gave the company a “buy” rating in a research report on Thursday, February 3rd. Barclays reduced their target price on shares of QUALCOMM from $185.00 to $160.00 and set an “equal weight” rating for the company in a research report on Monday, April 25th. Cowen increased their target price on shares of QUALCOMM from $210.00 to $220.00 and gave the company an “outperform” rating in a research report on Thursday, February 3rd. Sumitomo Mitsui Financial Group downgraded shares of QUALCOMM from an “outperform” rating to a “neutral” rating and reduced their target price for the company from $215.00 to $155.00 in a research report on Monday, April 18th. Finally, Mizuho lowered their target price on shares of QUALCOMM from $210.00 to $185.00 and set a “buy” rating on the stock in a research note on Monday, April 18th. Ten investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $194.77.

QUALCOMM stock traded up $5.78 during mid-day trading on Tuesday, reaching $139.69. 9,085,390 shares of the company’s stock traded hands, compared to its average volume of 11,364,762. The company has a market cap of $156.45 billion, a price-to-earnings ratio of 13.71, a PEG ratio of 0.75 and a beta of 1.20. The stock has a 50 day moving average of $144.48 and a two-hundred day moving average of $163.77. The company has a quick ratio of 1.27, a current ratio of 1.61 and a debt-to-equity ratio of 0.91. QUALCOMM Incorporated has a 12-month low of $122.17 and a 12-month high of $193.58.

QUALCOMM (NASDAQ:QCOMGet Rating) last released its quarterly earnings results on Wednesday, April 27th. The wireless technology company reported $2.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.67 by $0.19. The company had revenue of $11.16 billion for the quarter, compared to the consensus estimate of $10.58 billion. QUALCOMM had a net margin of 28.42% and a return on equity of 103.73%. During the same quarter in the prior year, the firm earned $1.59 earnings per share. As a group, sell-side analysts forecast that QUALCOMM Incorporated will post 11.12 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 23rd. Stockholders of record on Thursday, June 2nd will be paid a $0.75 dividend. The ex-dividend date is Wednesday, June 1st. This represents a $3.00 annualized dividend and a dividend yield of 2.15%. This is an increase from QUALCOMM’s previous quarterly dividend of $0.68. QUALCOMM’s dividend payout ratio is currently 27.84%.

QUALCOMM Profile (Get Rating)

QUALCOMM Incorporated engages in the development and commercialization of foundational technologies for the wireless industry worldwide. The company 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 3G/4G/5G and other technologies for use in wireless voice and data communications, networking, application processing, multimedia, and global positioning system products.

See Also

Institutional Ownership by Quarter for QUALCOMM (NASDAQ:QCOM)

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