Northern Oak Wealth Management Inc. lowered its holdings in QUALCOMM, Inc. (NASDAQ:QCOM) by 15.5% in the fourth quarter, HoldingsChannel reports. The firm owned 98,309 shares of the wireless technology company’s stock after selling 17,981 shares during the quarter. Northern Oak Wealth Management Inc.’s holdings in QUALCOMM were worth $5,594,000 as of its most recent SEC filing.
A number of other institutional investors have also added to or reduced their stakes in the stock. Mathes Company Inc. grew its position in shares of QUALCOMM by 190.0% in the 4th quarter. Mathes Company Inc. now owns 8,700 shares of the wireless technology company’s stock valued at $495,000 after acquiring an additional 5,700 shares during the period. Epstein & White Financial LLC lifted its stake in shares of QUALCOMM by 34.4% during the 4th quarter. Epstein & White Financial LLC now owns 9,752 shares of the wireless technology company’s stock worth $555,000 after buying an additional 2,495 shares during the last quarter. First American Bank lifted its stake in shares of QUALCOMM by 4.5% during the 4th quarter. First American Bank now owns 27,282 shares of the wireless technology company’s stock worth $1,552,000 after buying an additional 1,166 shares during the last quarter. Clear Harbor Asset Management LLC lifted its stake in shares of QUALCOMM by 4.8% during the 4th quarter. Clear Harbor Asset Management LLC now owns 16,942 shares of the wireless technology company’s stock worth $964,000 after buying an additional 778 shares during the last quarter. Finally, Ipswich Investment Management Co. Inc. lifted its stake in shares of QUALCOMM by 7.9% during the 4th quarter. Ipswich Investment Management Co. Inc. now owns 5,125 shares of the wireless technology company’s stock worth $292,000 after buying an additional 375 shares during the last quarter. 82.58% of the stock is owned by institutional investors and hedge funds.
In other QUALCOMM news, EVP James H. Thompson sold 40,000 shares of QUALCOMM stock in a transaction dated Monday, February 11th. The shares were sold at an average price of $50.75, for a total value of $2,030,000.00. Following the completion of the sale, the executive vice president now owns 62,301 shares in the company, valued at approximately $3,161,775.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.11% of the stock is owned by insiders.
Shares of QUALCOMM stock opened at $56.82 on Friday. QUALCOMM, Inc. has a twelve month low of $48.56 and a twelve month high of $76.50. The company has a quick ratio of 1.38, a current ratio of 1.54 and a debt-to-equity ratio of 4.25. The stock has a market capitalization of $69.92 billion, a price-to-earnings ratio of 17.09, a price-to-earnings-growth ratio of 1.83 and a beta of 1.21.
QUALCOMM (NASDAQ:QCOM) last issued its quarterly earnings data on Wednesday, January 30th. The wireless technology company reported $1.20 earnings per share for the quarter, topping the consensus estimate of $1.09 by $0.11. QUALCOMM had a net margin of 10.03% and a return on equity of 36.66%. The business had revenue of $4.80 billion during the quarter, compared to analysts’ expectations of $4.89 billion. During the same quarter in the previous year, the company earned $0.98 EPS. The business’s revenue was down 21.3% on a year-over-year basis. As a group, equities research analysts expect that QUALCOMM, Inc. will post 3.21 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 28th. Shareholders of record on Thursday, March 7th will be paid a $0.62 dividend. This represents a $2.48 annualized dividend and a yield of 4.36%. The ex-dividend date is Wednesday, March 6th. QUALCOMM’s dividend payout ratio (DPR) is 77.74%.
QCOM has been the subject of a number of research reports. Barclays restated a “buy” rating and set a $70.00 target price on shares of QUALCOMM in a research note on Friday, January 18th. Raymond James set a $65.00 target price on shares of QUALCOMM and gave the stock a “buy” rating in a research note on Saturday, February 2nd. BMO Capital Markets restated a “market perform” rating on shares of QUALCOMM in a research note on Thursday, January 31st. BidaskClub upgraded shares of QUALCOMM from a “strong sell” rating to a “sell” rating in a research note on Friday, March 1st. Finally, Bank of America restated a “neutral” rating and set a $60.00 target price (down previously from $67.00) on shares of QUALCOMM in a research note on Thursday, January 31st. Eleven research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. QUALCOMM currently has an average rating of “Buy” and an average price target of $66.58.
TRADEMARK VIOLATION WARNING: “Northern Oak Wealth Management Inc. Has $5.59 Million Position in QUALCOMM, Inc. (QCOM)” was reported by Highlight Press and is owned by of Highlight Press. If you are accessing this report on another website, it was copied illegally and republished in violation of international trademark and copyright legislation. The legal version of this report can be read at https://highlightpress.com/2019/03/23/northern-oak-wealth-management-inc-has-5-59-million-position-in-qualcomm-inc-qcom.html.
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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