First Commonwealth Financial Corp PA boosted its position in QUALCOMM, Inc. (NASDAQ:QCOM) by 128.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 38,263 shares of the wireless technology company’s stock after buying an additional 21,520 shares during the period. QUALCOMM comprises approximately 2.3% of First Commonwealth Financial Corp PA’s holdings, making the stock its 6th largest position. First Commonwealth Financial Corp PA’s holdings in QUALCOMM were worth $1,835,000 at the end of the most recent quarter.
A number of other large investors have also recently modified their holdings of the company. Massey Quick & Co. LLC acquired a new position in shares of QUALCOMM during the fourth quarter worth about $105,000. Edmond DE Rothschild Monaco acquired a new position in shares of QUALCOMM during the third quarter worth about $112,000. Tradewinds Capital Management LLC increased its position in shares of QUALCOMM by 4.8% in the third quarter. Tradewinds Capital Management LLC now owns 1,785 shares of the wireless technology company’s stock worth $122,000 after buying an additional 81 shares in the last quarter. Penserra Capital Management LLC increased its position in shares of QUALCOMM by 94.0% in the third quarter. Penserra Capital Management LLC now owns 1,911 shares of the wireless technology company’s stock worth $129,000 after buying an additional 926 shares in the last quarter. Finally, Peddock Capital Advisors LLC acquired a new position in shares of QUALCOMM during the third quarter worth about $149,000. Institutional investors and hedge funds own 79.28% of the company’s stock.
QUALCOMM, Inc. (NASDAQ:QCOM) traded down 0.3735% during trading on Thursday, hitting $52.4135. 15,001,659 shares of the stock traded hands. The firm has a market cap of $77.42 billion, a PE ratio of 15.9846 and a beta of 1.31. QUALCOMM, Inc. has a 12 month low of $50.11 and a 12 month high of $71.62. The firm has a 50-day moving average price of $56.53 and a 200 day moving average price of $61.96.
QUALCOMM (NASDAQ:QCOM) last announced its quarterly earnings data on Wednesday, April 19th. The wireless technology company reported $1.34 earnings per share for the quarter, beating analysts’ consensus estimates of $1.05 by $0.29. The firm earned $5.99 billion during the quarter, compared to analysts’ expectations of $5.86 billion. QUALCOMM had a net margin of 20.56% and a return on equity of 20.25%. The business’s quarterly revenue was up 8.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.04 earnings per share. On average, equities analysts forecast that QUALCOMM, Inc. will post $4.66 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 21st. Investors of record on Wednesday, May 31st will be issued a $0.57 dividend. The ex-dividend date is Friday, May 26th. This represents a $2.28 dividend on an annualized basis and a dividend yield of 4.33%. This is a boost from QUALCOMM’s previous quarterly dividend of $0.53. QUALCOMM’s payout ratio is 64.63%.
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QCOM has been the topic of a number of research reports. Citigroup Inc initiated coverage on QUALCOMM in a research note on Wednesday, December 21st. They set a “neutral” rating and a $70.00 price target on the stock. Brean Capital reaffirmed a “hold” rating on shares of QUALCOMM in a research note on Wednesday, December 21st. Vetr downgraded QUALCOMM from a “strong-buy” rating to a “buy” rating and set a $73.01 price target on the stock. in a research note on Thursday, December 22nd. Sanford C. Bernstein reissued a “market perform” rating and set a $80.00 price objective on shares of QUALCOMM in a report on Wednesday, December 28th. Finally, Canaccord Genuity reissued a “buy” rating and set a $81.00 price objective on shares of QUALCOMM in a report on Thursday, January 12th. One analyst has rated the stock with a sell rating, seventeen have assigned a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $66.98.
In other news, EVP Cristiano R. Amon purchased 18,815 shares of the stock in a transaction on Friday, February 3rd. The stock was bought at an average price of $53.13 per share, for a total transaction of $999,640.95. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Anthony J. Vinciquerra purchased 1,000 shares of the stock in a transaction on Monday, January 30th. The shares were purchased at an average price of $53.99 per share, with a total value of $53,990.00. Following the acquisition, the director now directly owns 1,281 shares in the company, valued at $69,161.19. The disclosure for this purchase can be found here. Insiders own 0.24% of the company’s stock.
QUALCOMM Company Profile
QUALCOMM Incorporated is engaged in the development and commercialization of a digital communication technology called code division multiple access (CDMA). The Company is engaged in the development and commercialization of the orthogonal frequency division multiple access (OFDMA) family of technologies, including long-term evolution (LTE), which is an Orthogonal Frequency Division Multiplexing (OFDM)-based standard that uses OFDMA and single-carrier Frequency Division Multiple Access (FDMA), for cellular wireless communication applications.
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